Mediolanum International Funds Ltd Has $1.45 Million Position in Essential Utilities Inc. $WTRG

Mediolanum International Funds Ltd grew its position in Essential Utilities Inc. (NYSE:WTRG) by 181.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 36,959 shares of the company’s stock after buying an additional 23,841 shares during the period. Mediolanum International Funds Ltd’s holdings in Essential Utilities were worth $1,446,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American National Bank & Trust acquired a new position in Essential Utilities during the 3rd quarter valued at about $27,000. SouthState Corp raised its stake in shares of Essential Utilities by 834.7% during the second quarter. SouthState Corp now owns 701 shares of the company’s stock worth $26,000 after buying an additional 626 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Essential Utilities by 141.2% during the third quarter. True Wealth Design LLC now owns 1,213 shares of the company’s stock worth $48,000 after buying an additional 710 shares during the last quarter. Quent Capital LLC acquired a new position in Essential Utilities in the third quarter valued at approximately $50,000. Finally, AlphaQuest LLC bought a new position in Essential Utilities in the third quarter valued at approximately $51,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

Shares of Essential Utilities stock opened at $37.85 on Wednesday. The stock’s fifty day simple moving average is $38.65 and its 200 day simple moving average is $38.90. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $10.71 billion, a PE ratio of 15.71 and a beta of 0.81. Essential Utilities Inc. has a 12 month low of $34.58 and a 12 month high of $42.37.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Wednesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The firm had revenue of $476.97 million during the quarter, compared to analysts’ expectations of $472.40 million. Essential Utilities had a return on equity of 10.20% and a net margin of 28.09%.The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 earnings per share. On average, research analysts predict that Essential Utilities Inc. will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 9th will be given a $0.3426 dividend. The ex-dividend date is Monday, February 9th. This represents a $1.37 annualized dividend and a dividend yield of 3.6%. Essential Utilities’s payout ratio is currently 56.85%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Essential Utilities in a research report on Monday, December 29th. Robert W. Baird cut Essential Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Northcoast Research raised Essential Utilities from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Wednesday, December 3rd. Jefferies Financial Group cut Essential Utilities from a “buy” rating to a “hold” rating and reduced their target price for the stock from $47.00 to $44.00 in a report on Tuesday, October 28th. Finally, UBS Group restated a “neutral” rating and set a $45.00 target price (down from $46.00) on shares of Essential Utilities in a research report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.29.

About Essential Utilities

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.