Essential Utilities Inc. (NYSE:WTRG) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in shares of Essential Utilities Inc. (NYSE:WTRG) by 3.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,240 shares of the company’s stock after purchasing an additional 4,015 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Essential Utilities were worth $4,239,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Bfsg LLC boosted its holdings in shares of Essential Utilities by 22.1% during the first quarter. Bfsg LLC now owns 1,453 shares of the company’s stock worth $57,000 after purchasing an additional 263 shares during the last quarter. Blair William & Co. IL raised its stake in Essential Utilities by 1.2% during the fourth quarter. Blair William & Co. IL now owns 24,652 shares of the company’s stock worth $895,000 after purchasing an additional 285 shares during the period. Community Bank N.A. raised its stake in Essential Utilities by 1.3% during the first quarter. Community Bank N.A. now owns 23,928 shares of the company’s stock worth $946,000 after purchasing an additional 304 shares during the period. Apella Capital LLC raised its stake in Essential Utilities by 4.4% during the first quarter. Apella Capital LLC now owns 7,914 shares of the company’s stock worth $299,000 after purchasing an additional 334 shares during the period. Finally, HM Payson & Co. raised its stake in Essential Utilities by 0.3% during the first quarter. HM Payson & Co. now owns 115,963 shares of the company’s stock worth $4,584,000 after purchasing an additional 334 shares during the period. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Trading Down 0.3%

NYSE:WTRG opened at $37.07 on Friday. The business’s 50-day moving average is $37.74 and its two-hundred day moving average is $37.81. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.57. Essential Utilities Inc. has a 12 month low of $33.18 and a 12 month high of $41.78. The firm has a market capitalization of $10.39 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 3.42 and a beta of 0.79.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Monday, May 12th. The company reported $1.03 EPS for the quarter, beating the consensus estimate 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 period last year, the company posted $0.97 earnings per share. The firm’s revenue was up 28.0% compared to the same quarter last year. Research analysts predict that Essential Utilities Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Essential Utilities from a “sell” rating to a “hold” rating in a research note on Saturday. Robert W. Baird cut their price target on shares of Essential Utilities from $47.00 to $46.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.50.

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.