Essential Utilities, Inc. (NYSE:WTRG) Stock Position Decreased by Intech Investment Management LLC

Intech Investment Management LLC lowered its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 67.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,664 shares of the company’s stock after selling 15,537 shares during the period. Intech Investment Management LLC’s holdings in Essential Utilities were worth $278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in shares of Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after purchasing an additional 972,803 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Essential Utilities in the third quarter valued at $30,842,000. Allianz Asset Management GmbH boosted its holdings in shares of Essential Utilities by 51.3% during the fourth quarter. Allianz Asset Management GmbH now owns 1,935,818 shares of the company’s stock valued at $70,309,000 after acquiring an additional 656,136 shares during the period. Cbre Investment Management Listed Real Assets LLC grew its position in shares of Essential Utilities by 42.6% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,043,011 shares of the company’s stock worth $74,202,000 after acquiring an additional 609,915 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Essential Utilities by 33.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company’s stock worth $36,795,000 after acquiring an additional 237,096 shares during the period. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Price Performance

Shares of NYSE WTRG opened at $38.58 on Thursday. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month 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 50-day moving average of $36.85 and a two-hundred day moving average of $37.82. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 2.57 and a beta of 0.79.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. As a group, analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s dividend payout ratio (DPR) is presently 59.91%.

Analyst Ratings Changes

Several research firms have commented on WTRG. Wells Fargo & Company upped their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. UBS Group cut their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI increased their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Essential Utilities currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.50.

About Essential Utilities

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.