Essential Utilities, Inc. (NYSE:WTRG) Stock Holdings Trimmed by Mitsubishi UFJ Asset Management UK Ltd.

Mitsubishi UFJ Asset Management UK Ltd. reduced its stake in Essential Utilities, Inc. (NYSE:WTRG) by 73.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,000 shares of the company’s stock after selling 11,000 shares during the period. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Essential Utilities were worth $145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WTRG. CIBC Asset Management Inc boosted its holdings in Essential Utilities by 1.8% during the third quarter. CIBC Asset Management Inc now owns 14,243 shares of the company’s stock valued at $549,000 after acquiring an additional 250 shares during the period. First Horizon Advisors Inc. raised its position in shares of Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 294 shares during the last quarter. Tompkins Financial Corp raised its position in shares of Essential Utilities by 21.7% during the third quarter. Tompkins Financial Corp now owns 1,685 shares of the company’s stock valued at $65,000 after buying an additional 300 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Essential Utilities by 7.2% during the fourth quarter. GAMMA Investing LLC now owns 4,946 shares of the company’s stock valued at $180,000 after buying an additional 332 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its position in Essential Utilities by 10.6% in the third quarter. V Square Quantitative Management LLC now owns 3,477 shares of the company’s stock worth $134,000 after purchasing an additional 333 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Down 0.3 %

NYSE:WTRG opened at $34.92 on Wednesday. Essential Utilities, Inc. has a 1-year low of $33.18 and a 1-year high of $41.78. The firm’s 50-day moving average price is $37.47 and its 200-day moving average price is $38.70. The company has a market capitalization of $9.59 billion, a PE ratio of 17.46, a P/E/G ratio of 2.51 and a beta of 0.86. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39.

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 company had revenue of $435.30 million for the quarter, compared to the consensus estimate of $416.95 million. During the same period in the prior year, the firm posted $0.30 EPS. Essential Utilities’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s payout ratio is presently 65.00%.

Analyst Ratings Changes

Several research firms have recently weighed in on WTRG. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $44.00 to $41.00 in a report on Thursday, November 7th. Wells Fargo & Company cut shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. UBS Group cut their target price on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Robert W. Baird raised their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

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.