Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by BLB&B Advisors LLC

BLB&B Advisors LLC lowered its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 9.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,737 shares of the company’s stock after selling 6,845 shares during the period. BLB&B Advisors LLC’s holdings in Essential Utilities were worth $2,574,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Friedenthal Financial bought a new stake in Essential Utilities during the third quarter worth approximately $25,000. Tradewinds Capital Management LLC boosted its stake in shares of Essential Utilities by 857.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after acquiring an additional 626 shares in the last quarter. Voisard Asset Management Group Inc. acquired a new position in shares of Essential Utilities in the 2nd quarter worth $37,000. Webster Bank N. A. acquired a new stake in shares of Essential Utilities during the first quarter worth $41,000. Finally, Riverview Trust Co purchased a new stake in shares of Essential Utilities during the first quarter valued at $43,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

NYSE WTRG opened at $40.49 on Wednesday. The company has a market cap of $11.08 billion, a P/E ratio of 19.75, a P/E/G ratio of 3.52 and a beta of 0.84. 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, Inc. has a 1 year low of $32.42 and a 1 year high of $41.78. The company has a fifty day simple moving average of $39.07 and a 200 day simple moving average of $38.38.

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

Essential Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a $0.3255 dividend. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, August 12th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.22%. Essential Utilities’s dividend payout ratio is currently 63.41%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Jefferies Financial Group initiated coverage on shares of Essential Utilities in a report on Monday, October 7th. They set a “buy” rating and a $44.00 price target on the stock. Robert W. Baird raised their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. 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. Finally, Evercore ISI raised their target price on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.