Cambridge Investment Research Advisors Inc. Acquires 10,718 Shares of Essential Utilities Inc. (NYSE:WTRG)

Cambridge Investment Research Advisors Inc. grew its holdings in Essential Utilities Inc. (NYSE:WTRG) by 13.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 92,272 shares of the company’s stock after purchasing an additional 10,718 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Essential Utilities were worth $3,648,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

WTRG has been the topic of several recent research reports. Evercore ISI lifted their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. Robert W. Baird cut 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. Finally, Wall Street Zen raised Essential Utilities from a “sell” rating to a “hold” rating in a report on Sunday, April 20th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.50.

Essential Utilities Stock Down 0.1%

Shares of NYSE:WTRG opened at $36.95 on Friday. The company has a market capitalization of $10.36 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 3.40 and a beta of 0.81. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.57. The business’s 50-day moving average is $38.85 and its 200-day moving average is $37.72. Essential Utilities Inc. has a 1 year low of $33.18 and a 1 year high of $41.78.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.23. The company had revenue of $783.63 million for the quarter, compared to the consensus estimate of $713.80 million. Essential Utilities had a return on equity of 9.81% and a net margin of 27.17%. The firm’s revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.97 EPS. Equities research analysts predict that Essential Utilities Inc. will post 1.99 earnings per share for the current year.

About Essential Utilities

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.