Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. grew its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 0.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,034,497 shares of the company’s stock after buying an additional 10,560 shares during the period. Essential Utilities accounts for approximately 3.0% of Tandem Investment Advisors Inc.’s portfolio, making the stock its 19th largest position. Tandem Investment Advisors Inc.’s holdings in Essential Utilities were worth $78,471,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Friedenthal Financial purchased a new position in Essential Utilities in the third quarter worth $25,000. Voisard Asset Management Group Inc. acquired a new position in Essential Utilities in the second quarter valued at $37,000. Farther Finance Advisors LLC grew its holdings in Essential Utilities by 81.2% in the third quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company’s stock valued at $44,000 after purchasing an additional 515 shares during the period. Bfsg LLC grew its stake in shares of Essential Utilities by 157.0% during the 3rd quarter. Bfsg LLC now owns 1,190 shares of the company’s stock valued at $46,000 after buying an additional 727 shares during the period. Finally, Mascoma Wealth Management LLC purchased a new stake in Essential Utilities during the second quarter valued at about $66,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Down 3.1 %

Shares of Essential Utilities stock opened at $39.12 on Friday. Essential Utilities, Inc. has a 12-month low of $33.28 and a 12-month high of $41.78. The stock’s fifty day moving average is $39.03 and its 200-day moving average is $38.67. The firm has a market capitalization of $10.70 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.14.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.94%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 earnings per share. Equities analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, November 12th. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Wall Street Analysts Forecast Growth

WTRG has been the subject of several recent research reports. Bank of America reissued a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a research report on Friday, September 20th. Jefferies Financial Group downgraded Essential Utilities from a “buy” rating to a “hold” rating and lowered their price target for the company from $44.00 to $41.00 in a report on Thursday. Robert W. Baird boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday. Evercore ISI raised their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company cut their price objective on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

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.