Van ECK Associates Corp Increases Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Van ECK Associates Corp boosted its stake in Essential Utilities, Inc. (NYSE:WTRGFree Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,437 shares of the company’s stock after purchasing an additional 1,575 shares during the quarter. Van ECK Associates Corp’s holdings in Essential Utilities were worth $2,313,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of WTRG. Bare Financial Services Inc purchased a new stake in Essential Utilities in the 4th quarter worth $25,000. Tradewinds Capital Management LLC raised its position in shares of Essential Utilities by 857.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock valued at $26,000 after buying an additional 626 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position 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 in the last quarter. Lindbrook Capital LLC raised 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 valued at $28,000 after buying an additional 325 shares in the last quarter. Finally, Valley National Advisers Inc. raised its position 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 in the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Essential Utilities stock opened at $37.49 on Friday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.62 and a quick ratio of 0.52. Essential Utilities, Inc. has a 1-year low of $32.07 and a 1-year high of $43.26. The firm has a market capitalization of $10.25 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 3.31 and a beta of 0.83. The company’s 50-day moving average is $37.66 and its 200 day moving average is $36.75.

Essential Utilities (NYSE:WTRGGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. The firm had revenue of $612.07 million during the quarter, compared to analysts’ expectations of $747.44 million. Research analysts forecast that Essential Utilities, Inc. will post 1.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their target price on shares of Essential Utilities from $44.00 to $43.00 and set an “outperform” rating on the stock in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Read Our Latest Research Report on Essential Utilities

Insider Buying and Selling

In related news, CAO Robert A. Rubin sold 2,342 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $37.43, for a total value of $87,661.06. Following the sale, the chief accounting officer now directly owns 53,391 shares of the company’s stock, valued at approximately $1,998,425.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Essential Utilities news, CAO Robert A. Rubin sold 2,023 shares of the company’s 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 transaction, the chief accounting officer now directly owns 13,358 shares in the company, valued at approximately $488,368.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Robert A. Rubin sold 2,342 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $37.43, for a total transaction of $87,661.06. Following the completion of the transaction, the chief accounting officer now owns 53,391 shares in the company, valued at $1,998,425.13. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

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.

Further Reading

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

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