Janus Henderson Group PLC Has $1.80 Million Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Janus Henderson Group PLC lifted its position in Essential Utilities, Inc. (NYSE:WTRGFree Report) by 15.7% during the third quarter, HoldingsChannel.com reports. The fund owned 46,753 shares of the company’s stock after purchasing an additional 6,344 shares during the period. Janus Henderson Group PLC’s holdings in Essential Utilities were worth $1,803,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc raised its position in shares of Essential Utilities by 1.8% in the 3rd quarter. CIBC Asset Management Inc now owns 14,243 shares of the company’s stock valued at $549,000 after acquiring an additional 250 shares during the period. First Horizon Advisors Inc. raised its holdings in Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares during the period. Tompkins Financial Corp raised its holdings in Essential Utilities by 21.7% during the 3rd quarter. Tompkins Financial Corp now owns 1,685 shares of the company’s stock worth $65,000 after buying an additional 300 shares during the period. V Square Quantitative Management LLC raised its holdings in Essential Utilities by 10.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,477 shares of the company’s stock worth $134,000 after buying an additional 333 shares during the period. Finally, First Trust Direct Indexing L.P. raised its holdings in Essential Utilities by 4.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 8,024 shares of the company’s stock worth $309,000 after buying an additional 337 shares during the period. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Price Performance

NYSE:WTRG opened at $39.08 on Friday. Essential Utilities, Inc. has a 1-year low of $33.57 and a 1-year high of $41.78. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The firm has a fifty day simple moving average of $39.32 and a 200 day simple moving average of $38.91. The stock has a market capitalization of $10.73 billion, a PE ratio of 19.31, a P/E/G ratio of 3.06 and a beta of 0.85.

Essential Utilities (NYSE:WTRGGet Free Report) last released its earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $416.95 million. During the same period last year, the business earned $0.30 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. On average, research analysts expect that Essential Utilities, Inc. will post 2.02 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be given a dividend of $0.3255 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 dividend on an annualized basis and a yield of 3.33%. Essential Utilities’s dividend payout ratio (DPR) is 65.00%.

Analysts Set New Price Targets

WTRG has been the subject of several research reports. Wells Fargo & Company decreased their price target on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Robert W. Baird raised their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Bank of America reaffirmed a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. Finally, Jefferies Financial Group cut shares of Essential Utilities from a “buy” rating to a “hold” rating and decreased their price target for the stock from $44.00 to $41.00 in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Check Out Our Latest Research Report on WTRG

Essential Utilities Profile

(Free Report)

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. The company operates through Regulated Water and Regulated Natural Gas segments. It offers water services through operating and maintenance contract with municipal authorities and other parties.

Further Reading

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Institutional Ownership by Quarter for Essential Utilities (NYSE:WTRG)

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