Modera Wealth Management LLC Trims Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Modera Wealth Management LLC decreased its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 54.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,121 shares of the company’s stock after selling 15,378 shares during the period. Modera Wealth Management LLC’s holdings in Essential Utilities were worth $477,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. State of Alaska Department of Revenue boosted its position in shares of Essential Utilities by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 29,256 shares of the company’s stock valued at $1,128,000 after acquiring an additional 1,985 shares during the period. First Trust Direct Indexing L.P. lifted its position in Essential Utilities by 4.4% during the third quarter. First Trust Direct Indexing L.P. now owns 8,024 shares of the company’s stock valued at $309,000 after purchasing an additional 337 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Essential Utilities by 81.2% during the third quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company’s stock valued at $44,000 after purchasing an additional 515 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Essential Utilities in the 3rd quarter worth approximately $302,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Essential Utilities by 5.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 139,864 shares of the company’s stock worth $5,395,000 after acquiring an additional 6,823 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Down 0.6 %

Shares of Essential Utilities stock opened at $38.86 on Wednesday. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The company’s fifty day simple moving average is $35.71 and its two-hundred day simple moving average is $37.82. The company has a market cap of $10.67 billion, a P/E ratio of 19.43, a PEG ratio of 2.57 and a beta of 0.86. Essential Utilities, Inc. has a 12-month low of $33.18 and a 12-month high of $41.78.

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

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.35%. Essential Utilities’s dividend payout ratio is presently 59.91%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WTRG shares. Wells Fargo & Company boosted their price objective 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 raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, January 28th. UBS Group decreased their target price on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Robert W. Baird lifted their target price 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.33.

Essential Utilities Company 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.