Tompkins Financial Corp Grows Stake in Essential Utilities, Inc. (NYSE:WTRG)

Tompkins Financial Corp lifted its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 21.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,685 shares of the company’s stock after acquiring an additional 300 shares during the quarter. Tompkins Financial Corp’s holdings in Essential Utilities were worth $65,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WTRG. Kingswood Wealth Advisors LLC grew its position in shares of Essential Utilities by 4.5% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company’s stock worth $259,000 after buying an additional 297 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Essential Utilities by 10.6% during the third quarter. V Square Quantitative Management LLC now owns 3,477 shares of the company’s stock valued at $134,000 after purchasing an additional 333 shares in the last quarter. Sanibel Captiva Trust Company Inc. lifted its holdings in shares of Essential Utilities by 5.4% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 6,491 shares of the company’s stock valued at $240,000 after purchasing an additional 334 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in shares of Essential Utilities by 4.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 8,024 shares of the company’s stock worth $309,000 after purchasing an additional 337 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in shares of Essential Utilities by 5.5% in the 1st quarter. Meeder Advisory Services Inc. now owns 6,506 shares of the company’s stock worth $241,000 after buying an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Up 1.5 %

Essential Utilities stock opened at $39.67 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.44 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 12-month low of $33.28 and a 12-month high of $41.78. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 3.50 and a beta of 0.84. The firm has a 50 day moving average of $39.06 and a 200 day moving average of $38.70.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $435.30 million for the quarter, compared to the consensus estimate of $416.95 million. During the same period last year, the firm earned $0.30 EPS. The company’s revenue was up 5.8% on a year-over-year basis. As a group, research analysts predict that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Tuesday, November 12th. Essential Utilities’s dividend payout ratio is 65.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Jefferies Financial Group cut Essential Utilities from a “buy” rating to a “hold” rating and cut their target price for the stock from $44.00 to $41.00 in a research note on Thursday. Evercore ISI increased their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Robert W. Baird 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. Bank of America reaffirmed a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Finally, Wells Fargo & Company reduced their price objective on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

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.