Jones Financial Companies Lllp Buys 57,291 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Jones Financial Companies Lllp lifted its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 31.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,233 shares of the company’s stock after purchasing an additional 57,291 shares during the quarter. Jones Financial Companies Lllp owned about 0.09% of Essential Utilities worth $8,725,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in Essential Utilities by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after acquiring an additional 972,803 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Essential Utilities by 2.0% during the third quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company’s stock worth $165,701,000 after purchasing an additional 82,456 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Essential Utilities by 6.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,731,011 shares of the company’s stock worth $99,190,000 after purchasing an additional 175,707 shares in the last quarter. Duff & Phelps Investment Management Co. grew its position in Essential Utilities by 4.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock valued at $97,632,000 after purchasing an additional 100,990 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Essential Utilities by 7.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company’s stock valued at $83,088,000 after purchasing an additional 145,767 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Up 3.0 %

Essential Utilities stock opened at $39.11 on Tuesday. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. 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 firm’s 50-day simple moving average is $35.66 and its 200 day simple moving average is $37.82. The stock has a market cap of $10.74 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.57 and a beta of 0.86.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. Research analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s dividend payout ratio is presently 59.91%.

Analysts Set New Price Targets

WTRG has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. 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 report on Tuesday, January 28th. UBS Group decreased their price objective on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Wells Fargo & Company increased their price objective on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.33.

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.