Cambridge Trust Co. Acquires 768 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Cambridge Trust Co. boosted its position in Essential Utilities, Inc. (NYSE:WTRG) by 1.6% during the first quarter, HoldingsChannel reports. The fund owned 47,993 shares of the company’s stock after buying an additional 768 shares during the quarter. Cambridge Trust Co.’s holdings in Essential Utilities were worth $1,778,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bare Financial Services Inc bought a new stake in shares of Essential Utilities during the fourth quarter valued at about $25,000. Tradewinds Capital Management LLC increased its position in shares of Essential Utilities by 857.5% during the first quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock valued at $26,000 after buying an additional 626 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Essential Utilities by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after purchasing an additional 325 shares in the last quarter. Valley National Advisers Inc. grew its holdings in shares of Essential Utilities by 4,210.0% during the fourth quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after purchasing an additional 842 shares in the last quarter. Finally, VisionPoint Advisory Group LLC grew its holdings in shares of Essential Utilities by 52.9% during the fourth quarter. VisionPoint Advisory Group LLC now owns 977 shares of the company’s stock worth $36,000 after purchasing an additional 338 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Price Performance

WTRG traded up $0.39 during midday trading on Friday, hitting $41.49. The stock had a trading volume of 2,037,312 shares, compared to its average volume of 1,417,242. The company has a market cap of $11.35 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 3.63 and a beta of 0.83. The business has a fifty day moving average of $38.37 and a 200 day moving average of $37.11. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.52 and a current ratio of 0.62. Essential Utilities, Inc. has a 1 year low of $32.07 and a 1 year high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Thursday, May 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.03). Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. The firm had revenue of $612.07 million during the quarter, compared to the consensus estimate of $747.44 million. As a group, equities analysts forecast that Essential Utilities, Inc. will post 1.97 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be issued a $0.3255 dividend. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date is Monday, August 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.14%. Essential Utilities’s dividend payout ratio (DPR) is currently 58.29%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday. Robert W. Baird cut their price objective on Essential Utilities from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Monday, May 6th. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Essential Utilities presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.40.

Insider Transactions at Essential Utilities

In other news, CAO Robert A. Rubin sold 2,342 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.43, for a total value of $87,661.06. Following the transaction, the chief accounting officer now owns 53,391 shares in the company, valued at $1,998,425.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

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.