Baird Financial Group Inc. increased its stake in shares of Essential Utilities, Inc. (NYSE:WTRG – Get Rating) by 5.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,616 shares of the company’s stock after purchasing an additional 2,627 shares during the period. Baird Financial Group Inc.’s holdings in Essential Utilities were worth $2,275,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the stock. Hazlett Burt & Watson Inc. acquired a new position in Essential Utilities in the 1st quarter valued at $25,000. MCF Advisors LLC acquired a new position in Essential Utilities in the 1st quarter valued at $38,000. 1832 Asset Management L.P. acquired a new position in Essential Utilities in the 1st quarter valued at $38,000. Herold Advisors Inc. acquired a new position in Essential Utilities in the 1st quarter valued at $41,000. Finally, ACG Wealth acquired a new position in Essential Utilities in the 2nd quarter valued at $41,000. 69.79% of the stock is currently owned by institutional investors and hedge funds.
Essential Utilities Stock Down 0.2 %
Shares of Essential Utilities stock opened at $47.20 on Thursday. The company has a fifty day moving average price of $43.77 and a 200 day moving average price of $46.11. The company has a current ratio of 0.64, a quick ratio of 0.37 and a debt-to-equity ratio of 1.16. Essential Utilities, Inc. has a twelve month low of $38.50 and a twelve month high of $53.93. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 4.27 and a beta of 0.77.
Essential Utilities Dividend Announcement
Analysts Set New Price Targets
Several brokerages have weighed in on WTRG. HSBC upgraded Essential Utilities from a “hold” rating to a “buy” rating and boosted their price target for the company from $53.00 to $57.00 in a report on Thursday, August 18th. Robert W. Baird upped their price objective on Essential Utilities from $50.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. StockNews.com downgraded Essential Utilities from a “hold” rating to a “sell” rating in a report on Wednesday. Evercore ISI dropped their price objective on Essential Utilities to $44.00 in a report on Thursday, October 20th. Finally, Bank of America downgraded Essential Utilities from a “buy” rating to a “neutral” rating and set a $52.00 price objective for the company. in a report on Friday, September 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.83.
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. It offers water services through operating and maintenance contract with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through a third-party.
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