CENTRAL TRUST Co Sells 1,250 Shares of Essential Utilities, Inc. (NYSE:WTRG)

CENTRAL TRUST Co lowered its position in Essential Utilities, Inc. (NYSE:WTRG) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,851 shares of the company’s stock after selling 1,250 shares during the period. CENTRAL TRUST Co’s holdings in Essential Utilities were worth $903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its stake in Essential Utilities by 1.6% in the third quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock worth $2,001,000 after purchasing an additional 803 shares during the last quarter. Empower Advisory Group LLC raised its stake in shares of Essential Utilities by 5.6% during the third quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company’s stock valued at $61,152,000 after acquiring an additional 84,596 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Essential Utilities by 16.7% during the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after acquiring an additional 972,803 shares in the last quarter. Synergy Asset Management LLC raised its stake in shares of Essential Utilities by 92.8% during the fourth quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock valued at $5,529,000 after acquiring an additional 71,222 shares in the last quarter. Finally, Brighton Jones LLC bought a new stake in shares of Essential Utilities during the fourth quarter valued at approximately $638,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $36.03 on Tuesday. The company’s 50 day moving average is $36.72 and its 200 day moving average is $38.43. 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 $33.18 and a 52-week high of $41.78. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 2.54 and a beta of 0.86.

Essential Utilities (NYSE:WTRG) last released its quarterly 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. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $435.30 million for the quarter, compared to analyst estimates of $416.95 million. During the same period in the previous year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be issued a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s dividend payout ratio is currently 65.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WTRG. Robert W. Baird lifted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, January 28th. UBS Group decreased their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company lowered shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $43.00 to $39.00 in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.00.

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.