Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by Secure Asset Management LLC

Secure Asset Management LLC lifted its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,255 shares of the company’s stock after acquiring an additional 1,248 shares during the quarter. Secure Asset Management LLC’s holdings in Essential Utilities were worth $1,428,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Essential Utilities by 3.0% in 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. Nordea Investment Management AB raised its holdings in Essential Utilities by 17,553.7% in the first quarter. Nordea Investment Management AB now owns 3,425,350 shares of the company’s stock valued at $126,156,000 after acquiring an additional 3,405,947 shares in the last quarter. Duff & Phelps Investment Management Co. boosted its stake in Essential Utilities by 11.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 3,069,377 shares of the company’s stock valued at $114,641,000 after acquiring an additional 313,277 shares during the last quarter. Norges Bank bought a new position in Essential Utilities during the 4th quarter valued at $97,288,000. Finally, Tandem Investment Advisors Inc. grew its holdings in Essential Utilities by 7.7% during the 1st quarter. Tandem Investment Advisors Inc. now owns 2,010,380 shares of the company’s stock worth $74,485,000 after acquiring an additional 144,030 shares in the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WTRG. Evercore ISI lifted their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Wells Fargo & Company lifted their target price on Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird upped their price target on Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat, Essential Utilities presently has a consensus rating of “Moderate Buy” and an average price target of $44.40.

Insider Activity

In related news, CAO Robert A. Rubin sold 2,342 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $37.43, for a total value of $87,661.06. Following the completion of the transaction, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at approximately $1,998,425.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

Essential Utilities Stock Performance

WTRG traded up $0.20 during trading on Friday, reaching $39.24. 1,276,262 shares of the company were exchanged, compared to its average volume of 1,556,748. Essential Utilities, Inc. has a 52 week low of $32.07 and a 52 week high of $41.78. The company has a current ratio of 0.58, a quick ratio of 0.44 and a debt-to-equity ratio of 1.14. The firm has a 50 day moving average of $39.09 and a 200 day moving average of $37.41. The stock has a market cap of $10.74 billion, a P/E ratio of 18.60, a PEG ratio of 3.52 and a beta of 0.83.

Essential Utilities (NYSE:WTRG) last released 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). The firm had revenue of $434.40 million for 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%. The firm’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 EPS. On average, sell-side analysts forecast that Essential Utilities, Inc. will post 1.96 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be paid a $0.3255 dividend. The ex-dividend date is Monday, August 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.32%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s dividend payout ratio (DPR) is presently 61.61%.

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.