Stephens Inc. AR Reduces Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Stephens Inc. AR lessened its stake in Essential Utilities, Inc. (NYSE:WTRG) by 3.9% in the fourth quarter, Holdings Channel reports. The fund owned 60,948 shares of the company’s stock after selling 2,498 shares during the quarter. Stephens Inc. AR’s holdings in Essential Utilities were worth $2,214,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in shares of Essential Utilities in the second quarter valued at $630,000. CWM LLC lifted its holdings in Essential Utilities by 13.2% in the 3rd quarter. CWM LLC now owns 11,995 shares of the company’s stock worth $463,000 after buying an additional 1,397 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Essential Utilities by 710.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 8,100 shares of the company’s stock valued at $312,000 after buying an additional 7,100 shares during the last quarter. Inspire Investing LLC acquired a new stake in shares of Essential Utilities during the third quarter valued at about $293,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Essential Utilities by 2.1% during the third quarter. Exchange Traded Concepts LLC now owns 67,784 shares of the company’s stock worth $2,614,000 after acquiring an additional 1,412 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Stock Up 1.3 %

NYSE:WTRG opened at $35.38 on Wednesday. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78. The firm has a market capitalization of $9.71 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 2.53 and a beta of 0.87. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The stock has a 50 day moving average of $36.15 and a 200-day moving average of $38.20.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s dividend payout ratio (DPR) is 65.00%.

Analysts Set New Price Targets

WTRG has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Wells Fargo & Company downgraded shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $43.00 to $39.00 in a research report on Tuesday, January 7th. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, January 28th. Finally, UBS Group decreased their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.