Costello Asset Management INC Sells 7,165 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Costello Asset Management INC lowered its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,200 shares of the company’s stock after selling 7,165 shares during the period. Essential Utilities makes up 2.3% of Costello Asset Management INC’s investment portfolio, making the stock its 15th largest position. Costello Asset Management INC’s holdings in Essential Utilities were worth $3,421,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. CIBC Asset Management Inc raised its position 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 purchasing an additional 250 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after purchasing an additional 294 shares during the last quarter. Tompkins Financial Corp raised its holdings in shares of Essential Utilities by 21.7% during the 3rd quarter. Tompkins Financial Corp now owns 1,685 shares of the company’s stock valued at $65,000 after buying an additional 300 shares in the last quarter. GAMMA Investing LLC lifted its position in Essential Utilities by 7.2% in the 4th quarter. GAMMA Investing LLC now owns 4,946 shares of the company’s stock worth $180,000 after buying an additional 332 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its stake 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 buying an additional 333 shares in the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

Shares of Essential Utilities stock opened at $35.46 on Friday. The company’s fifty day simple moving average is $36.72 and its two-hundred day simple moving average is $38.46. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78. The firm has a market cap of $9.74 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 2.52 and a beta of 0.86. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $416.95 million. During the same period in the prior year, the business posted $0.30 earnings per share. Essential Utilities’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a dividend of $0.3255 per share. The ex-dividend date is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.67%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Wall Street Analysts Forecast Growth

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