KBC Group NV Increases Stake in Essential Utilities, Inc. (NYSE:WTRG)

KBC Group NV grew its position in Essential Utilities, Inc. (NYSE:WTRG) by 24.0% during the 4th quarter, HoldingsChannel reports. The fund owned 22,255 shares of the company’s stock after purchasing an additional 4,307 shares during the period. KBC Group NV’s holdings in Essential Utilities were worth $809,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc increased its stake in Essential Utilities by 1.8% in the 3rd quarter. CIBC Asset Management Inc now owns 14,243 shares of the company’s stock worth $549,000 after buying an additional 250 shares during the period. First Horizon Advisors Inc. increased its stake in Essential Utilities by 61.4% in 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 increased its stake in Essential Utilities by 21.7% in 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. GAMMA Investing LLC grew its holdings in Essential Utilities by 7.2% during the 4th quarter. GAMMA Investing LLC now owns 4,946 shares of the company’s stock worth $180,000 after acquiring an additional 332 shares in the last quarter. Finally, V Square Quantitative Management LLC grew 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 acquiring an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

Essential Utilities stock opened at $35.46 on Friday. The company’s fifty day moving average price is $36.72 and its 200 day moving average price is $38.46. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78. The stock has a market capitalization of $9.74 billion, a P/E ratio of 17.73, a P/E/G ratio of 2.52 and a beta of 0.86. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $435.30 million for the quarter, compared to analysts’ expectations of $416.95 million. During the same quarter last year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be paid a $0.3255 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.30 dividend on an annualized basis and a yield of 3.67%. Essential Utilities’s dividend payout ratio is currently 65.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company cut shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $43.00 to $39.00 in a report on Tuesday, January 7th. UBS Group reduced their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. 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 report on Wednesday, November 6th. Finally, Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Tuesday, January 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Essential Utilities Company Profile

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.