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

First National Bank & Trust Co. of Newtown lessened its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 123,168 shares of the company’s stock after selling 1,205 shares during the period. Essential Utilities comprises 1.0% of First National Bank & Trust Co. of Newtown’s investment portfolio, making the stock its 17th largest holding. First National Bank & Trust Co. of Newtown’s holdings in Essential Utilities were worth $4,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of WTRG. American Century Companies Inc. raised its holdings in Essential Utilities by 15.7% during the 1st quarter. American Century Companies Inc. now owns 11,774 shares of the company’s stock worth $602,000 after buying an additional 1,602 shares during the period. Natixis Advisors L.P. raised its holdings in Essential Utilities by 80.7% during the 1st quarter. Natixis Advisors L.P. now owns 37,787 shares of the company’s stock worth $1,932,000 after buying an additional 16,871 shares during the period. Dimensional Fund Advisors LP raised its holdings in Essential Utilities by 12.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,186,342 shares of the company’s stock worth $60,662,000 after buying an additional 127,695 shares during the period. Aviva PLC acquired a new stake in Essential Utilities during the 1st quarter worth about $5,907,000. Finally, Allianz Asset Management GmbH increased its holdings in shares of Essential Utilities by 3,972.9% in the 1st quarter. Allianz Asset Management GmbH now owns 524,708 shares of the company’s stock valued at $26,828,000 after purchasing an additional 511,825 shares during the period. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Essential Utilities stock traded up $0.37 during trading hours on Friday, reaching $35.53. 275,122 shares of the company were exchanged, compared to its average volume of 1,762,333. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 3.00 and a beta of 0.82. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The stock has a 50-day moving average of $35.69 and a 200 day moving average of $35.62. Essential Utilities, Inc. has a 12 month low of $32.07 and a 12 month high of $44.05.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The firm had revenue of $479.40 million during the quarter, compared to analysts’ expectations of $708.50 million. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. The company’s revenue was down 32.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 earnings per share. As a group, research analysts anticipate that Essential Utilities, Inc. will post 2 earnings per share for the current year.

Essential Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a $0.3071 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.46%. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 9th. Essential Utilities’s dividend payout ratio is currently 66.13%.

Analyst Ratings Changes

Separately, Evercore ISI dropped their target price on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Activity

In other news, CAO Robert A. Rubin sold 5,565 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.21, for a total value of $207,073.65. Following the completion of the sale, the chief accounting officer now directly owns 57,756 shares of the company’s stock, valued at $2,149,100.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by company insiders.

Essential Utilities 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.