Qsemble Capital Management LP Invests $748,000 in Essential Utilities, Inc. (NYSE:WTRG)

Qsemble Capital Management LP acquired a new stake in shares of Essential Utilities, Inc. (NYSE:WTRG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,400 shares of the company’s stock, valued at approximately $748,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of WTRG. Pathway Financial Advisers LLC increased its stake in Essential Utilities by 4,309.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company’s stock valued at $48,424,000 after purchasing an additional 1,227,010 shares in the last quarter. Boston Trust Walden Corp grew its holdings in shares of Essential Utilities by 117.3% during the third quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company’s stock valued at $75,701,000 after buying an additional 1,059,320 shares during the last quarter. AMF Tjanstepension AB acquired a new position in shares of Essential Utilities in the 2nd quarter valued at $11,853,000. Dimensional Fund Advisors LP raised its stake in Essential Utilities by 18.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,500,150 shares of the company’s stock worth $56,002,000 after acquiring an additional 234,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Essential Utilities by 8.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,871,932 shares of the company’s stock worth $72,200,000 after acquiring an additional 149,162 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WTRG has been the subject of several analyst reports. Jefferies Financial Group cut shares of Essential Utilities from a “buy” rating to a “hold” rating and decreased their target price for the company from $44.00 to $41.00 in a research note on Thursday, November 7th. Robert W. Baird raised their target price on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Bank of America reaffirmed a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Evercore ISI upped their target price on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, 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 report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Essential Utilities Stock Performance

Shares of NYSE:WTRG opened at $40.05 on Wednesday. The business’s 50 day moving average price is $39.06 and its 200-day moving average price is $38.86. Essential Utilities, Inc. has a 1 year low of $33.57 and a 1 year high of $41.78. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The firm has a market capitalization of $11.00 billion, a PE ratio of 20.02, a P/E/G ratio of 3.17 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $435.30 million for 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 7.89%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. As a group, equities research analysts expect that Essential Utilities, Inc. will post 2.01 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently declared 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 is Tuesday, November 12th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.25%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

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.