Essential Utilities, Inc. (NYSE:WTRG) Holdings Lifted by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its position in shares of Essential Utilities, Inc. (NYSE:WTRGGet Rating) by 60.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,670 shares of the company’s stock after buying an additional 4,767 shares during the quarter. Advisors Asset Management Inc.’s holdings in Essential Utilities were worth $581,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc lifted its holdings in shares of Essential Utilities by 94.1% during the second quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,472,661 shares of the company’s stock valued at $67,507,000 after purchasing an additional 714,060 shares during the last quarter. Aaron Wealth Advisors LLC lifted its holdings in shares of Essential Utilities by 4,998.4% during the first quarter. Aaron Wealth Advisors LLC now owns 572,707 shares of the company’s stock valued at $11,201,000 after purchasing an additional 561,474 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Essential Utilities by 3,972.9% during the first quarter. Allianz Asset Management GmbH now owns 524,708 shares of the company’s stock valued at $26,828,000 after purchasing an additional 511,825 shares during the last quarter. Electron Capital Partners LLC lifted its holdings in shares of Essential Utilities by 90.7% during the first quarter. Electron Capital Partners LLC now owns 1,030,801 shares of the company’s stock valued at $52,705,000 after purchasing an additional 490,352 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Essential Utilities by 3.5% during the first quarter. State Street Corp now owns 13,218,964 shares of the company’s stock valued at $675,886,000 after purchasing an additional 449,065 shares during the last quarter. Institutional investors own 69.79% of the company’s stock.

Essential Utilities Stock Up 2.3 %

WTRG opened at $47.12 on Friday. Essential Utilities, Inc. has a fifty-two week low of $38.50 and a fifty-two week high of $53.93. The business has a 50-day moving average of $43.71 and a 200-day moving average of $46.13. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.64 and a quick ratio of 0.37. The company has a market capitalization of $12.36 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 4.33 and a beta of 0.77.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be paid a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Wednesday, November 9th. Essential Utilities’s dividend payout ratio (DPR) is presently 64.97%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Robert W. Baird upped their target price on Essential Utilities from $50.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, August 5th. HSBC raised Essential Utilities from a “hold” rating to a “buy” rating and increased their price objective for the stock from $53.00 to $57.00 in a research note on Thursday, August 18th. StockNews.com downgraded Essential Utilities from a “hold” rating to a “sell” rating in a research note on Wednesday. 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 research note on Friday, September 9th. Finally, Evercore ISI reduced their price objective on Essential Utilities to $44.00 in a research note on Thursday, October 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.83.

About Essential Utilities

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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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Institutional Ownership by Quarter for Essential Utilities (NYSE:WTRG)

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