DRW Securities LLC Takes Position in Essential Utilities, Inc. (NYSE:WTRG)

DRW Securities LLC acquired a new stake in Essential Utilities, Inc. (NYSE:WTRG) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 101,300 shares of the company’s stock, valued at approximately $3,907,000.

Other institutional investors also recently bought and sold shares of the company. Friedenthal Financial acquired a new position in Essential Utilities in the 3rd quarter valued at $25,000. Darwin Wealth Management LLC acquired a new position in Essential Utilities in the 3rd quarter valued at $28,000. First Horizon Advisors Inc. increased its stake in Essential Utilities by 61.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 294 shares during the period. Voisard Asset Management Group Inc. acquired a new position in Essential Utilities in the 2nd quarter valued at $37,000. Finally, Farther Finance Advisors LLC grew its stake in shares of Essential Utilities by 81.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company’s stock worth $44,000 after purchasing an additional 515 shares during the period. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Trading Up 0.4 %

NYSE WTRG opened at $39.53 on Monday. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 3.13 and a beta of 0.84. The company’s 50 day moving average price is $39.04 and its 200 day moving average price is $38.85. Essential Utilities, Inc. has a one year low of $33.57 and a one year high of $41.78. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $435.30 million for the quarter, compared to analyst estimates of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. On average, sell-side analysts predict that Essential Utilities, Inc. will post 2.01 EPS for the current year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 dividend on an annualized basis and a dividend yield of 3.29%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WTRG. Robert W. Baird upped their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $44.00 to $41.00 in a research report on Thursday, November 7th. Bank of America reiterated a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a research report on Friday, September 20th. Wells Fargo & Company decreased their price objective on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Evercore ISI raised their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.00.

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.