NFJ Investment Group LLC Takes $4.05 Million Position in Essential Utilities Inc. $WTRG

NFJ Investment Group LLC bought a new stake in Essential Utilities Inc. (NYSE:WTRG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 105,602 shares of the company’s stock, valued at approximately $4,046,000.

Other large investors have also recently added to or reduced their stakes in the company. LaSalle St. Investment Advisors LLC acquired a new stake in Essential Utilities in the 2nd quarter worth about $243,000. Advisors Capital Management LLC acquired a new position in shares of Essential Utilities during the 2nd quarter valued at about $265,000. Vise Technologies Inc. purchased a new position in shares of Essential Utilities during the 2nd quarter worth about $1,090,000. Aurora Investment Counsel purchased a new position in shares of Essential Utilities during the 2nd quarter worth about $2,629,000. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Essential Utilities in the second quarter worth approximately $2,990,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WTRG has been the subject of a number of recent analyst reports. UBS Group boosted their target price on shares of Essential Utilities from $43.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 2nd. Wall Street Zen raised shares of Essential Utilities to a “sell” rating in a research note on Saturday, July 4th. Barclays lifted their price target on shares of Essential Utilities from $38.00 to $40.00 and gave the company an “underweight” rating in a report on Wednesday, July 15th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Essential Utilities in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Essential Utilities Trading Down 1.4%

NYSE:WTRG opened at $40.47 on Friday. The business’s 50-day moving average is $39.03 and its two-hundred day moving average is $38.96. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.78 and a quick ratio of 0.62. Essential Utilities Inc. has a 12 month low of $36.10 and a 12 month high of $42.37. The firm has a market capitalization of $11.48 billion, a PE ratio of 20.65 and a beta of 0.64.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Wednesday, August 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $530.85 million during the quarter, compared to analyst estimates of $538.90 million. Essential Utilities had a return on equity of 8.23% and a net margin of 21.60%.The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. Research analysts predict that Essential Utilities Inc. will post 2.21 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th will be issued a $0.3606 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $1.44 dividend on an annualized basis and a yield of 3.6%. This is a boost from Essential Utilities’s previous quarterly dividend of $0.34. Essential Utilities’s dividend payout ratio (DPR) is currently 73.47%.

Insider Transactions at Essential Utilities

In other Essential Utilities news, insider Colleen Arnold sold 2,855 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $39.55, for a total value of $112,915.25. Following the completion of the sale, the insider owned 17,347 shares of the company’s stock, valued at $686,073.85. This trade represents a 14.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is owned by company insiders.

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.