KLP Kapitalforvaltning AS Takes Position in Essential Utilities, Inc. (NYSE:WTRG)

KLP Kapitalforvaltning AS bought a new position in shares of Essential Utilities, Inc. (NYSE:WTRG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 224,200 shares of the company’s stock, valued at approximately $8,143,000.

Several other institutional investors have also recently added to or reduced their stakes in WTRG. Brooklyn Investment Group acquired a new stake in shares of Essential Utilities during the third quarter worth approximately $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Essential Utilities in the 4th quarter valued at $26,000. First Horizon Advisors Inc. raised its stake in Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares during the period. IFP Advisors Inc raised its stake in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after buying an additional 473 shares during the period. Finally, Truvestments Capital LLC bought a new position in Essential Utilities during the third quarter worth about $42,000. 74.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. UBS Group dropped their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, January 28th. Wells Fargo & Company upped their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Finally, Evercore ISI raised their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.50.

Essential Utilities Stock Down 1.0 %

WTRG stock opened at $38.12 on Tuesday. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. The business has a 50 day moving average price of $36.69 and a two-hundred day moving average price of $37.82. 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 (NYSE:WTRG) last released its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.42%. Essential Utilities’s dividend payout ratio is presently 59.91%.

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.