Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its stake in Essential Utilities, Inc. (NYSE:WTRG) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 349,952 shares of the company’s stock after selling 4,736 shares during the quarter. Retirement Systems of Alabama’s holdings in Essential Utilities were worth $13,498,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Friedenthal Financial acquired a new stake in shares of Essential Utilities in the third quarter valued at about $25,000. Brooklyn Investment Group acquired a new stake in shares of Essential Utilities in the third quarter valued at about $26,000. Darwin Wealth Management LLC acquired a new stake in shares of Essential Utilities in the third quarter valued at about $28,000. First Horizon Advisors Inc. lifted its stake in shares of Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Essential Utilities in the third quarter worth about $42,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Price Performance

Shares of WTRG stock opened at $38.69 on Monday. 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’s 50-day moving average is $39.34 and its two-hundred day moving average is $38.96. Essential Utilities, Inc. has a 12 month low of $33.57 and a 12 month high of $41.78. The company has a market capitalization of $10.62 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 3.06 and a beta of 0.85.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Monday, November 4th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $435.30 million for the quarter, compared to the consensus estimate of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Essential Utilities’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share. Analysts predict that Essential Utilities, Inc. will post 2.01 earnings per share for the current year.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be issued a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s dividend payout ratio (DPR) is currently 65.00%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WTRG shares. Wells Fargo & Company decreased their price target on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Robert W. Baird raised 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. Bank of America reissued a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. Finally, Jefferies Financial Group downgraded shares of Essential Utilities from a “buy” rating to a “hold” rating and decreased their price target for the stock from $44.00 to $41.00 in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.00.

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.