Allworth Financial LP Purchases 184,258 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Allworth Financial LP increased its position in Essential Utilities, Inc. (NYSE:WTRG) by 6,305.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,180 shares of the company’s stock after purchasing an additional 184,258 shares during the quarter. Allworth Financial LP owned approximately 0.07% of Essential Utilities worth $6,291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WTRG. Friedenthal Financial acquired a new stake in shares of Essential Utilities during the 3rd quarter worth approximately $25,000. Brooklyn Investment Group bought a new position in Essential Utilities in the third quarter valued at approximately $26,000. Darwin Wealth Management LLC bought a new position in Essential Utilities in the third quarter valued at approximately $28,000. First Horizon Advisors Inc. grew its holdings in Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after acquiring an additional 294 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Essential Utilities during the 3rd quarter valued at $42,000. 74.78% of the stock is owned by institutional investors.

Essential Utilities Trading Down 1.7 %

NYSE WTRG opened at $35.21 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The stock’s 50-day moving average is $35.85 and its 200-day moving average is $38.07. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The firm has a market cap of $9.67 billion, a P/E ratio of 17.60, a P/E/G ratio of 2.53 and a beta of 0.86.

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 $0.3255 dividend. This represents a $1.30 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Monday, February 10th. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, January 28th. Robert W. Baird raised their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company cut Essential Utilities from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. Finally, UBS Group cut their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock 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.