First National Bank & Trust Co. of Newtown Decreases Stake in Essential Utilities, Inc. (NYSE:WTRG)

First National Bank & Trust Co. of Newtown lessened its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,459 shares of the company’s stock after selling 1,645 shares during the quarter. Essential Utilities comprises 0.9% of First National Bank & Trust Co. of Newtown’s portfolio, making the stock its 19th biggest holding. First National Bank & Trust Co. of Newtown’s holdings in Essential Utilities were worth $4,491,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Tandem Investment Advisors Inc. grew its position in Essential Utilities by 0.5% in the third quarter. Tandem Investment Advisors Inc. now owns 2,034,497 shares of the company’s stock worth $78,471,000 after acquiring an additional 10,560 shares in the last quarter. Radnor Capital Management LLC increased its position in shares of Essential Utilities by 13.1% during the 3rd quarter. Radnor Capital Management LLC now owns 67,153 shares of the company’s stock valued at $2,590,000 after purchasing an additional 7,801 shares during the last quarter. QRG Capital Management Inc. raised its holdings in Essential Utilities by 16.7% during the 3rd quarter. QRG Capital Management Inc. now owns 14,001 shares of the company’s stock valued at $540,000 after buying an additional 1,999 shares during the period. Van ECK Associates Corp lifted its position in Essential Utilities by 6.8% in the third quarter. Van ECK Associates Corp now owns 72,211 shares of the company’s stock worth $2,909,000 after buying an additional 4,573 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Essential Utilities by 5.1% during the third quarter. Janney Montgomery Scott LLC now owns 139,864 shares of the company’s stock valued at $5,395,000 after acquiring an additional 6,823 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Down 3.1 %

NYSE:WTRG opened at $39.12 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.58 and a quick ratio of 0.44. Essential Utilities, Inc. has a 1-year low of $33.28 and a 1-year high of $41.78. The company has a 50-day moving average of $39.03 and a 200 day moving average of $38.67. The firm has a market cap 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.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the company earned $0.30 EPS. As a group, research analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WTRG. Evercore ISI upped 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. Jefferies Financial Group cut Essential Utilities from a “buy” rating to a “hold” rating and cut their target price for the company from $44.00 to $41.00 in a research note on Thursday. Robert W. Baird raised their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wells Fargo & Company dropped their price objective on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Bank of America reiterated a “buy” rating and issued a $45.00 target price on shares of Essential Utilities in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $44.00.

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.