8,002 Shares in Essential Utilities, Inc. (NYSE:WTRG) Acquired by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC acquired a new position in shares of Essential Utilities, Inc. (NYSE:WTRG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,002 shares of the company’s stock, valued at approximately $299,000.

Other large investors have also recently modified their holdings of the company. Nordea Investment Management AB increased its stake in Essential Utilities by 17,553.7% during the 1st quarter. Nordea Investment Management AB now owns 3,425,350 shares of the company’s stock valued at $126,156,000 after purchasing an additional 3,405,947 shares in the last quarter. Norges Bank acquired a new position in Essential Utilities during the 4th quarter valued at approximately $97,288,000. Epoch Investment Partners Inc. acquired a new position in Essential Utilities during the 1st quarter valued at approximately $46,280,000. UBS Group AG increased its stake in Essential Utilities by 271.9% during the 4th quarter. UBS Group AG now owns 1,225,849 shares of the company’s stock valued at $45,785,000 after purchasing an additional 896,223 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Essential Utilities by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 27,992,080 shares of the company’s stock valued at $1,045,504,000 after purchasing an additional 823,495 shares in the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

NYSE WTRG traded down $0.27 during mid-day trading on Wednesday, reaching $39.26. 626,865 shares of the stock were exchanged, compared to its average volume of 1,562,163. The business’s 50 day moving average is $39.01 and its 200-day moving average is $37.38. Essential Utilities, Inc. has a 1 year low of $32.07 and a 1 year high of $41.78. The company has a market capitalization of $10.74 billion, a P/E ratio of 18.61, a P/E/G ratio of 3.50 and a beta of 0.83. 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 (NYSE:WTRG) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The company had revenue of $434.40 million for the quarter, compared to analyst estimates of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. On average, equities research analysts forecast that Essential Utilities, Inc. will post 1.96 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be given a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Monday, August 12th. Essential Utilities’s dividend payout ratio is 61.61%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Robert W. Baird upped their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Finally, Evercore ISI upped their price objective 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. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.40.

Insider Transactions at Essential Utilities

In other news, CAO Robert A. Rubin sold 2,342 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $37.43, for a total value of $87,661.06. Following the transaction, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at $1,998,425.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Essential Utilities Company 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.