Tokio Marine Asset Management Co. Ltd. Purchases 737 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 7.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,145 shares of the company’s stock after buying an additional 737 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Essential Utilities were worth $430,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Friedenthal Financial purchased a new position in shares of Essential Utilities during the third quarter valued at approximately $25,000. Voisard Asset Management Group Inc. bought a new stake in Essential Utilities in the 2nd quarter worth approximately $37,000. Farther Finance Advisors LLC raised its stake in Essential Utilities by 81.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company’s stock valued at $44,000 after buying an additional 515 shares during the last quarter. Bfsg LLC lifted its holdings in shares of Essential Utilities by 157.0% during the 3rd quarter. Bfsg LLC now owns 1,190 shares of the company’s stock valued at $46,000 after buying an additional 727 shares during the period. Finally, Sanctuary Wealth Management L.L.C. purchased a new position in shares of Essential Utilities in the 3rd quarter worth $50,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WTRG shares. Jefferies Financial Group cut Essential Utilities from a “buy” rating to a “hold” rating and reduced their price objective for the company from $44.00 to $41.00 in a research report on Thursday, November 7th. Robert W. Baird upped their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Evercore ISI upped their target price 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. Finally, Bank of America reiterated a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Essential Utilities Trading Up 0.9 %

Shares of NYSE:WTRG opened at $38.60 on Friday. Essential Utilities, Inc. has a 12-month low of $33.57 and a 12-month high of $41.78. The company has a market cap of $10.60 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 3.05 and a beta of 0.84. The stock has a 50 day moving average of $39.03 and a 200 day moving average of $38.80. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $416.95 million. During the same period in the prior year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect that Essential Utilities, Inc. will post 2.01 EPS for the current year.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.37%. Essential Utilities’s payout ratio is 65.00%.

About Essential Utilities

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.