Mediolanum International Funds Ltd Has $361,000 Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Mediolanum International Funds Ltd grew its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 62.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 9,414 shares of the company’s stock after acquiring an additional 3,624 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Essential Utilities were worth $361,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WTRG. Friedenthal Financial bought a new stake in Essential Utilities during the third quarter worth about $25,000. Tradewinds Capital Management LLC increased its stake in Essential Utilities by 857.5% in the first quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock valued at $26,000 after acquiring an additional 626 shares during the last quarter. Voisard Asset Management Group Inc. bought a new position in Essential Utilities in the second quarter valued at approximately $37,000. Bfsg LLC raised its position in Essential Utilities by 157.0% during the third quarter. Bfsg LLC now owns 1,190 shares of the company’s stock valued at $46,000 after purchasing an additional 727 shares in the last quarter. Finally, Mascoma Wealth Management LLC bought a new stake in Essential Utilities during the second quarter worth $66,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

NYSE:WTRG opened at $38.84 on Monday. The stock’s 50-day moving average is $39.07 and its 200-day moving average is $38.45. The stock has a market cap of $10.62 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 3.52 and a beta of 0.84. Essential Utilities, Inc. has a 1-year low of $32.95 and a 1-year high of $41.78. The company has a current ratio of 0.58, a quick ratio of 0.44 and a debt-to-equity ratio of 1.14.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). The business had revenue of $434.40 million during the quarter, compared to analyst estimates of $442.76 million. Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The company’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. Equities research analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s payout ratio is 61.61%.

Analyst Ratings Changes

WTRG has been the subject of a number of research analyst reports. Bank of America reissued a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Jefferies Financial Group assumed coverage on Essential Utilities in a research note on Monday, October 7th. They set a “buy” rating and a $44.00 target price for the company. Evercore ISI raised their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Wells Fargo & Company lifted their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird increased their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.80.

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.