Cbre Investment Management Listed Real Assets LLC Boosts Position in Essential Utilities, Inc. (NYSE:WTRG)

Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 42.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,043,011 shares of the company’s stock after buying an additional 609,915 shares during the period. Essential Utilities accounts for approximately 1.3% of Cbre Investment Management Listed Real Assets LLC’s portfolio, making the stock its 26th biggest holding. Cbre Investment Management Listed Real Assets LLC owned about 0.74% of Essential Utilities worth $74,202,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its holdings in shares of Essential Utilities by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 29,256 shares of the company’s stock valued at $1,128,000 after purchasing an additional 1,985 shares during the period. First Trust Direct Indexing L.P. increased its holdings in shares of Essential Utilities by 4.4% in the third quarter. First Trust Direct Indexing L.P. now owns 8,024 shares of the company’s stock valued at $309,000 after purchasing an additional 337 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of 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. Chicago Partners Investment Group LLC acquired a new position in shares of Essential Utilities in the third quarter valued at approximately $302,000. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Essential Utilities by 5.1% in the third quarter. Janney Montgomery Scott LLC now owns 139,864 shares of the company’s stock valued at $5,395,000 after purchasing an additional 6,823 shares during the period. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Stock Down 0.6 %

WTRG opened at $38.86 on Wednesday. The business’s fifty day moving average is $35.71 and its two-hundred day moving average is $37.82. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The company has a market cap of $10.67 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.57 and a beta of 0.86. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. Analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.35%. Essential Utilities’s dividend payout ratio is currently 59.91%.

Analyst Ratings Changes

WTRG has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Robert W. Baird upped their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group dropped their price objective on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.33.

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.