Tokio Marine Asset Management Co. Ltd. Purchases 531 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Tokio Marine Asset Management Co. Ltd. grew its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,378 shares of the company’s stock after buying an additional 531 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Essential Utilities were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Essential Utilities by 604.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock valued at $27,000 after buying an additional 610 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Essential Utilities by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock valued at $28,000 after buying an additional 325 shares during the period. Valley National Advisers Inc. lifted its holdings in shares of Essential Utilities by 4,210.0% during the 4th quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock valued at $32,000 after buying an additional 842 shares during the period. Resources Management Corp CT ADV raised its holdings in Essential Utilities by 250.0% in the 3rd 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 during the period. Finally, Orion Capital Management LLC bought a new position in Essential Utilities in the 3rd quarter worth $39,000. 74.78% of the stock is owned by institutional investors.

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 report on Monday, March 4th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.00.

Insider Activity at Essential Utilities

In related news, CAO Robert A. Rubin sold 5,565 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.21, for a total transaction of $207,073.65. Following the completion of the transaction, 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 filing with the SEC, which is available through this link. 0.21% of the stock is owned by corporate insiders.

Essential Utilities Price Performance

NYSE:WTRG opened at $36.09 on Monday. 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 business’s 50-day simple moving average is $35.74 and its two-hundred day simple moving average is $35.76. The stock has a market cap of $9.87 billion, a PE ratio of 19.40, a P/E/G 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 $43.74.

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

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a dividend of $0.3071 per share. The ex-dividend date is Thursday, May 9th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.23 dividend on an annualized basis and a yield of 3.40%. Essential Utilities’s dividend payout ratio is presently 66.13%.

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. 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.