Essential Utilities, Inc. (NYSE:WTRG) Shares Bought by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina increased its position in shares of Essential Utilities, Inc. (NYSE:WTRGFree Report) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,688 shares of the company’s stock after buying an additional 1,050 shares during the period. Treasurer of the State of North Carolina’s holdings in Essential Utilities were worth $4,022,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bare Financial Services Inc purchased a new stake in Essential Utilities during the 4th quarter worth about $25,000. Massmutual Trust Co. FSB ADV lifted its stake 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 during the last quarter. Lindbrook Capital LLC boosted its holdings in Essential Utilities by 78.9% in the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock valued at $28,000 after purchasing an additional 325 shares in the last quarter. Valley National Advisers Inc. increased its stake in Essential Utilities by 4,210.0% in the fourth quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock valued at $32,000 after purchasing an additional 842 shares during the last quarter. Finally, Resources Management Corp CT ADV increased its stake 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 purchasing an additional 750 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WTRG. Robert W. Baird lowered their target price on shares of Essential Utilities from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, May 6th. Evercore ISI cut 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 equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.00.

View Our Latest Stock Analysis on WTRG

Insider Buying and Selling at Essential Utilities

In other news, CAO Robert A. Rubin sold 2,023 shares of Essential Utilities stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total value of $73,960.88. Following the sale, the chief accounting officer now owns 13,358 shares of the company’s stock, valued at $488,368.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Robert A. Rubin sold 2,023 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total transaction of $73,960.88. Following the completion of the transaction, the chief accounting officer now directly owns 13,358 shares of the company’s stock, valued at approximately $488,368.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Robert A. Rubin sold 5,565 shares of Essential Utilities stock in a transaction that occurred on Monday, April 1st. The shares were 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 owns 57,756 shares in the company, valued at $2,149,100.76. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Essential Utilities Price Performance

Shares of WTRG opened at $38.01 on Wednesday. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 3.34 and a beta of 0.84. Essential Utilities, Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $43.26. The firm has a 50-day simple moving average of $37.04 and a 200-day simple moving average of $36.53. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.52 and a current ratio of 0.62.

Essential Utilities (NYSE:WTRGGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.03). Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. The company had revenue of $612.07 million during the quarter, compared to analysts’ expectations of $747.44 million. On average, equities research analysts anticipate that Essential Utilities, Inc. will post 1.97 earnings per share for the current year.

Essential Utilities Company Profile

(Free Report)

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.

Read More

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

Receive News & Ratings for Essential Utilities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Essential Utilities and related companies with MarketBeat.com's FREE daily email newsletter.