Manchester Capital Management LLC Acquires 1,398 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Manchester Capital Management LLC grew its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 15.1% in the fourth quarter, HoldingsChannel reports. The fund owned 10,668 shares of the company’s stock after buying an additional 1,398 shares during the period. Manchester Capital Management LLC’s holdings in Essential Utilities were worth $387,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in Essential Utilities by 16.7% during the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after purchasing an additional 972,803 shares during the period. Geode Capital Management LLC lifted its position in Essential Utilities by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company’s stock worth $165,701,000 after purchasing an additional 82,456 shares during the period. Duff & Phelps Investment Management Co. lifted its position in Essential Utilities by 4.2% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock worth $97,632,000 after purchasing an additional 100,990 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Essential Utilities by 7.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company’s stock worth $83,088,000 after purchasing an additional 145,767 shares during the period. Finally, Boston Trust Walden Corp lifted its position in Essential Utilities by 8.4% during the fourth quarter. Boston Trust Walden Corp now owns 2,126,907 shares of the company’s stock worth $77,249,000 after purchasing an additional 164,215 shares during the period. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

Shares of WTRG opened at $35.21 on Friday. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The business’s fifty day moving average is $35.92 and its 200 day moving average is $38.13. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The stock has a market cap of $9.67 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.53 and a beta of 0.86.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company downgraded Essential Utilities from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $43.00 to $39.00 in a research note on Tuesday, January 7th. Robert W. Baird upped their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. UBS Group lowered their price objective on 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, Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.00.

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.