Essential Utilities Inc. (NYSE:WTRG) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its position in Essential Utilities Inc. (NYSE:WTRG) by 31.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,598 shares of the company’s stock after selling 1,172 shares during the period. Fifth Third Bancorp’s holdings in Essential Utilities were worth $103,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. VSM Wealth Advisory LLC acquired a new stake in Essential Utilities during the 4th quarter valued at $26,000. American National Bank & Trust acquired a new stake in Essential Utilities during the 1st quarter valued at $35,000. IFP Advisors Inc grew its holdings in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after buying an additional 473 shares during the last quarter. Orion Capital Management LLC acquired a new stake in Essential Utilities during the 4th quarter valued at $41,000. Finally, CX Institutional acquired a new stake in Essential Utilities during the 1st quarter valued at $42,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Trading Up 0.8%

Shares of Essential Utilities stock opened at $37.35 on Friday. Essential Utilities Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The firm has a market cap of $10.47 billion, a PE ratio of 16.75, a P/E/G ratio of 3.44 and a beta of 0.81. The business’s fifty day moving average is $39.17 and its two-hundred day moving average is $37.81. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.16.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.23. Essential Utilities had a return on equity of 9.81% and a net margin of 27.17%. The company had revenue of $783.63 million for the quarter, compared to analyst estimates of $713.80 million. During the same quarter in the prior year, the company posted $0.97 EPS. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. Analysts anticipate that Essential Utilities Inc. will post 1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WTRG. Wells Fargo & Company increased their target price on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Evercore ISI increased their target price on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Wall Street Zen upgraded Essential Utilities from a “sell” rating to a “hold” rating in a report on Sunday, April 20th. Finally, Robert W. Baird lowered their target price on Essential Utilities from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Essential Utilities currently has an average rating of “Moderate Buy” and a consensus target price of $43.50.

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.