Xponance Inc. Raises Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Xponance Inc. boosted its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,957 shares of the company’s stock after purchasing an additional 610 shares during the quarter. Xponance Inc.’s holdings in Essential Utilities were worth $1,119,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its position in Essential Utilities by 604.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock worth $27,000 after purchasing an additional 610 shares in the last quarter. Valley National Advisers Inc. boosted its position in Essential Utilities by 4,210.0% during the fourth quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after purchasing an additional 842 shares in the last quarter. Resources Management Corp CT ADV boosted its position in Essential Utilities by 250.0% during the third quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company’s stock worth $36,000 after purchasing an additional 750 shares in the last quarter. Orion Capital Management LLC purchased a new position in Essential Utilities during the third quarter worth approximately $39,000. Finally, Larson Financial Group LLC purchased a new position in shares of Essential Utilities in the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Insider Activity

In other news, CAO Robert A. Rubin sold 5,565 shares of Essential Utilities stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.21, for a total value of $207,073.65. Following the completion of the sale, the chief accounting officer now directly owns 57,756 shares of the company’s stock, valued at $2,149,100.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.21% of the company’s stock.

Essential Utilities Price Performance

WTRG stock opened at $36.54 on Thursday. The business has a fifty day moving average of $35.74 and a two-hundred day moving average of $35.72. The company has a quick ratio of 0.48, a current ratio of 0.62 and a debt-to-equity ratio of 1.16. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 3.15 and a beta of 0.82. Essential Utilities, Inc. has a 52-week low of $32.07 and a 52-week high of $44.05.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. The company had revenue of $479.40 million during the quarter, compared to analysts’ expectations of $708.50 million. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. The firm’s quarterly revenue was down 32.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. As a group, research analysts anticipate that Essential Utilities, Inc. will post 2 earnings per share for the current year.

Essential Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.3071 per share. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.23 annualized dividend and a yield of 3.36%. Essential Utilities’s dividend payout ratio (DPR) is 66.13%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI decreased their target price on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.