Cetera Investment Advisers Buys 2,965 Shares of Essential Utilities Inc. (NYSE:WTRG)

Cetera Investment Advisers raised its stake in Essential Utilities Inc. (NYSE:WTRG) by 6.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,737 shares of the company’s stock after acquiring an additional 2,965 shares during the quarter. Cetera Investment Advisers’ holdings in Essential Utilities were worth $1,887,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WTRG. Avantax Advisory Services Inc. grew its position in shares of Essential Utilities by 4.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 149,946 shares of the company’s stock worth $5,927,000 after purchasing an additional 6,494 shares in the last quarter. Hamilton Point Investment Advisors LLC grew its position in shares of Essential Utilities by 1.8% during the 1st quarter. Hamilton Point Investment Advisors LLC now owns 133,698 shares of the company’s stock worth $5,285,000 after purchasing an additional 2,427 shares in the last quarter. Carnegie Investment Counsel grew its position in shares of Essential Utilities by 2.8% during the 1st quarter. Carnegie Investment Counsel now owns 21,997 shares of the company’s stock worth $844,000 after purchasing an additional 600 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Essential Utilities during the 1st quarter worth approximately $1,128,000. Finally, KLP Kapitalforvaltning AS grew its position in shares of Essential Utilities by 6.7% during the 1st quarter. KLP Kapitalforvaltning AS now owns 239,300 shares of the company’s stock worth $9,460,000 after purchasing an additional 15,100 shares in the last quarter. 74.78% of the stock is owned by institutional investors.

Essential Utilities Stock Performance

NYSE WTRG opened at $38.81 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 3.53 and a beta of 0.78. The firm’s 50 day simple moving average is $37.54 and its 200 day simple moving average is $38.02. Essential Utilities Inc. has a 1 year low of $33.18 and a 1 year high of $41.65.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.09. Essential Utilities had a net margin of 27.62% and a return on equity of 10.10%. The business had revenue of $514.91 million for the quarter, compared to analyst estimates of $462.70 million. During the same quarter last year, the business posted $0.28 EPS. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. As a group, research analysts expect that Essential Utilities Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be given a $0.3426 dividend. This is an increase from Essential Utilities’s previous quarterly dividend of $0.33. This represents a $1.37 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, August 12th. Essential Utilities’s dividend payout ratio (DPR) is 55.79%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Essential Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Robert W. Baird increased their target price on shares of Essential Utilities from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.67.

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.