Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Korea Investment CORP

Korea Investment CORP increased its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 34.2% in the fourth quarter, Holdings Channel reports. The firm owned 87,029 shares of the company’s stock after buying an additional 22,200 shares during the quarter. Korea Investment CORP’s holdings in Essential Utilities were worth $3,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Essential Utilities by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 30,061,135 shares of the company’s stock valued at $1,091,820,000 after purchasing an additional 2,245,256 shares during the period. Nordea Investment Management AB grew its position in Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after buying an additional 972,803 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Essential Utilities in the 3rd quarter valued at $30,842,000. Allianz Asset Management GmbH raised its position in Essential Utilities by 51.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,935,818 shares of the company’s stock worth $70,309,000 after buying an additional 656,136 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its stake in shares of Essential Utilities by 42.6% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,043,011 shares of the company’s stock worth $74,202,000 after acquiring an additional 609,915 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. 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 note on Tuesday, January 28th. UBS Group dropped their price objective on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Evercore ISI boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.50.

Essential Utilities Stock Up 0.0 %

WTRG opened at $39.54 on Wednesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The company has a market cap of $10.89 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a one year low of $33.18 and a one year high of $41.78. The business’s fifty day moving average is $37.19 and its two-hundred day moving average is $37.81.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. Analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s payout ratio is currently 59.91%.

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.