Pathway Financial Advisers LLC Sells 1,221,996 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Pathway Financial Advisers LLC decreased its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 97.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,487 shares of the company’s stock after selling 1,221,996 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Essential Utilities were worth $1,216,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WTRG. CIBC Asset Management Inc raised its holdings in shares of Essential Utilities by 1.8% in the third 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 in the last quarter. First Horizon Advisors Inc. lifted its position in shares of 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 purchasing an additional 294 shares during the period. Tompkins Financial Corp boosted its stake in shares of Essential Utilities by 21.7% during the third quarter. Tompkins Financial Corp now owns 1,685 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Essential Utilities by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company’s stock valued at $2,546,000 after acquiring an additional 300 shares during the period. Finally, GAMMA Investing LLC grew its stake in Essential Utilities by 7.2% in the fourth quarter. GAMMA Investing LLC now owns 4,946 shares of the company’s stock valued at $180,000 after purchasing an additional 332 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

Shares of WTRG opened at $35.75 on Thursday. The company has a market capitalization of $9.82 billion, a P/E ratio of 17.88, a P/E/G ratio of 2.53 and a beta of 0.86. The business’s 50-day moving average is $35.99 and its two-hundred day moving average is $38.15. 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, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78.

Essential Utilities Announces Dividend

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 given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.64%. The ex-dividend date is Monday, February 10th. Essential Utilities’s dividend payout ratio is currently 65.00%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, January 28th. UBS Group dropped their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company downgraded Essential Utilities from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $43.00 to $39.00 in a report on Tuesday, January 7th. Finally, Robert W. Baird boosted their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Essential Utilities 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.