Exchange Traded Concepts LLC Purchases 1,412 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Exchange Traded Concepts LLC increased its position in Essential Utilities, Inc. (NYSE:WTRG) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,784 shares of the company’s stock after buying an additional 1,412 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Essential Utilities were worth $2,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC lifted its holdings in shares of Essential Utilities by 4.5% during the second quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company’s stock worth $259,000 after purchasing an additional 297 shares during the period. Sanibel Captiva Trust Company Inc. grew its position in shares of Essential Utilities by 5.4% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 6,491 shares of the company’s stock valued at $240,000 after buying an additional 334 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Essential Utilities by 5.5% in the first quarter. Meeder Advisory Services Inc. now owns 6,506 shares of the company’s stock valued at $241,000 after buying an additional 339 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Essential Utilities by 8.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,416 shares of the company’s stock valued at $165,000 after buying an additional 352 shares during the period. Finally, First Affirmative Financial Network lifted its stake in shares of Essential Utilities by 5.1% in the first quarter. First Affirmative Financial Network now owns 7,910 shares of the company’s stock worth $293,000 after acquiring an additional 386 shares during the period. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Up 1.9 %

WTRG stock opened at $39.90 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.44 and a current ratio of 0.58. Essential Utilities, Inc. has a fifty-two week low of $32.42 and a fifty-two week high of $41.78. The stock’s 50 day simple moving average is $38.97 and its 200 day simple moving average is $38.21. The company has a market cap of $10.91 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The firm had revenue of $434.40 million during the quarter, compared to the consensus estimate of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. Essential Utilities’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 earnings per share. On average, research analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a $0.3255 dividend. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, August 12th. This represents a $1.30 annualized dividend and a yield of 3.26%. Essential Utilities’s dividend payout ratio (DPR) is presently 61.61%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Bank of America reissued a “buy” rating and set a $45.00 target price on shares of Essential Utilities in a research note on Friday, September 20th. Robert W. Baird upped their price target on shares of Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Evercore ISI boosted their price objective on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, 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. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.80.

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.