Sigma Planning Corp Has $203,000 Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Sigma Planning Corp lessened its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 38.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,442 shares of the company’s stock after selling 3,335 shares during the quarter. Sigma Planning Corp’s holdings in Essential Utilities were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its holdings in Essential Utilities by 604.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock valued at $27,000 after purchasing an additional 610 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of Essential Utilities by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after buying an additional 325 shares during the period. Valley National Advisers Inc. boosted its stake in Essential Utilities by 4,210.0% in 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 in the last quarter. Resources Management Corp CT ADV grew its position in Essential Utilities by 250.0% in the third quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company’s stock valued at $36,000 after acquiring an additional 750 shares during the period. Finally, Orion Capital Management LLC acquired a new position in Essential Utilities during the third quarter worth $39,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Essential Utilities news, CAO Robert A. Rubin sold 5,565 shares of the 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 transaction, the chief accounting officer now directly owns 57,756 shares in the company, valued at approximately $2,149,100.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by corporate insiders.

Essential Utilities Stock Up 1.0 %

NYSE WTRG opened at $36.46 on Tuesday. The stock’s 50 day simple moving average is $35.75 and its 200 day simple moving average is $35.79. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.62 and a quick ratio of 0.48. Essential Utilities, Inc. has a one year low of $32.07 and a one year high of $43.74. The firm has a market cap of $9.97 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 3.15 and a beta of 0.82.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) 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 business had revenue of $479.40 million during the quarter, compared to analysts’ expectations of $708.50 million. During the same period in the previous year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was down 32.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Essential Utilities, Inc. will post 2 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders 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. This represents a $1.23 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Thursday, May 9th. Essential Utilities’s dividend payout ratio is 66.13%.

Analysts Set New Price Targets

Separately, Evercore ISI lowered their target price on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Essential Utilities 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.