Community Bank N.A. Sells 410 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Community Bank N.A. reduced its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 1.7% in the fourth quarter, HoldingsChannel reports. The firm owned 23,624 shares of the company’s stock after selling 410 shares during the period. Community Bank N.A.’s holdings in Essential Utilities were worth $858,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in Essential Utilities in the third quarter worth approximately $26,000. VSM Wealth Advisory LLC acquired a new stake in Essential Utilities in the fourth quarter valued at approximately $26,000. First Horizon Advisors Inc. grew its stake in Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after acquiring an additional 294 shares during the period. IFP Advisors Inc grew its stake in Essential Utilities by 75.0% in the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after acquiring an additional 473 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in Essential Utilities in the third quarter valued at approximately $42,000. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Stock Down 1.2 %

Shares of NYSE:WTRG opened at $38.39 on Friday. The stock has a market cap of $10.55 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.57 and a beta of 0.79. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The business’s 50 day moving average is $36.61 and its 200 day moving average is $37.83.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business had revenue of $604.38 million for the quarter, compared to analysts’ expectations of $698.77 million. On average, sell-side analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a yield of 3.39%. Essential Utilities’s dividend payout ratio is currently 59.91%.

Analysts Set New Price Targets

A number of brokerages have commented on WTRG. Wells Fargo & Company raised their price objective on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. UBS Group reduced their price objective on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, January 28th. Finally, Evercore ISI lifted their target price on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Essential Utilities has a consensus rating of “Moderate Buy” and a consensus target price 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.