DnB Asset Management AS Buys 3,245 Shares of Essential Utilities, Inc. (NYSE:WTRG)

DnB Asset Management AS lifted its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 5.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 65,386 shares of the company’s stock after buying an additional 3,245 shares during the period. DnB Asset Management AS’s holdings in Essential Utilities were worth $2,375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. VSM Wealth Advisory LLC purchased a new stake in shares of Essential Utilities in the fourth quarter valued at about $26,000. IFP Advisors Inc lifted its position in shares of Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after buying an additional 473 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Essential Utilities in the 4th quarter worth approximately $45,000. Stonebridge Financial Group LLC bought a new position in shares of Essential Utilities in the fourth quarter valued at approximately $60,000. Finally, Crews Bank & Trust bought a new stake in Essential Utilities during the fourth quarter worth $90,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group lowered 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 lifted their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Evercore ISI raised their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Essential Utilities Stock Up 0.0 %

WTRG opened at $39.54 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The firm has a market capitalization of $10.89 billion, a P/E ratio of 19.77, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. The company has a fifty day moving average price of $37.19 and a 200-day moving average price of $37.81.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Wednesday, February 26th. The company reported $0.67 EPS 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 during the quarter, compared to analysts’ expectations of $698.77 million. Equities research 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. Investors of record on Tuesday, May 13th will be paid a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s dividend payout ratio is currently 59.91%.

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.