Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,133 shares of the company’s stock after selling 2,380 shares during the quarter. MetLife Investment Management LLC’s holdings in Essential Utilities were worth $5,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WTRG. Friedenthal Financial acquired a new position in shares of Essential Utilities during the third quarter worth about $25,000. Brooklyn Investment Group acquired a new position in Essential Utilities during the 3rd quarter worth approximately $26,000. Darwin Wealth Management LLC purchased a new position in Essential Utilities in the 3rd quarter worth approximately $28,000. First Horizon Advisors Inc. grew its position in Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after acquiring an additional 294 shares in the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new stake in shares of Essential Utilities during the second quarter valued at approximately $37,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Essential Utilities Trading Down 0.6 %

NYSE:WTRG opened at $40.03 on Monday. The company has a market cap of $10.99 billion, a PE ratio of 20.02, a P/E/G ratio of 3.17 and a beta of 0.84. The business’s 50 day moving average is $39.18 and its two-hundred day moving average is $38.88. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 52 week low of $33.57 and a 52 week high of $41.78.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Monday, November 4th. The company reported $0.25 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 the consensus estimate of $416.95 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. On average, analysts predict that Essential Utilities, Inc. will post 2.01 EPS for the current year.

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued 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 yield of 3.25%. Essential Utilities’s dividend payout ratio is currently 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.