Essential Utilities, Inc. (NYSE:WTRG) Stock Position Reduced by Cetera Investment Advisers

Cetera Investment Advisers trimmed its position in Essential Utilities, Inc. (NYSE:WTRG) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,772 shares of the company’s stock after selling 1,197 shares during the quarter. Cetera Investment Advisers’ holdings in Essential Utilities were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. VSM Wealth Advisory LLC bought a new stake in shares of Essential Utilities in the 4th quarter worth about $26,000. IFP Advisors Inc raised its position in shares of Essential Utilities by 75.0% in the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after acquiring an additional 473 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Essential Utilities during the 4th quarter worth approximately $45,000. Bessemer Group Inc. grew its stake in shares of Essential Utilities by 98.9% during the 4th quarter. Bessemer Group Inc. now owns 1,565 shares of the company’s stock worth $56,000 after acquiring an additional 778 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in shares of Essential Utilities in the fourth quarter valued at $60,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WTRG has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. StockNews.com upgraded Essential Utilities from a “sell” rating to a “hold” rating in a research note on Sunday, April 20th. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, January 28th. Evercore ISI raised their price target on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Finally, Robert W. Baird reduced their price target on Essential Utilities from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.50.

Essential Utilities Stock Performance

NYSE:WTRG opened at $39.30 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The stock has a 50-day moving average price of $39.48 and a 200 day moving average price of $38.00. The stock has a market capitalization of $11.02 billion, a P/E ratio of 19.65, a P/E/G ratio of 2.57 and a beta of 0.85.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.23. The business had revenue of $783.63 million during the quarter, compared to analysts’ expectations of $713.80 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. Equities research analysts forecast that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.31%. Essential Utilities’s dividend payout ratio is presently 58.30%.

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.