Essential Utilities Inc. $WTRG Holdings Decreased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in Essential Utilities Inc. (NYSE:WTRG) by 41.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,247 shares of the company’s stock after selling 20,957 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Essential Utilities were worth $1,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Essential Utilities in the 3rd quarter valued at approximately $26,000. ProShare Advisors LLC boosted its position in Essential Utilities by 1.9% during the 3rd quarter. ProShare Advisors LLC now owns 720,312 shares of the company’s stock worth $28,229,000 after buying an additional 13,221 shares during the period. Vise Technologies Inc. grew its holdings in Essential Utilities by 68.4% during the 3rd quarter. Vise Technologies Inc. now owns 47,922 shares of the company’s stock worth $1,878,000 after acquiring an additional 19,466 shares during the last quarter. Sage Rhino Capital LLC bought a new stake in Essential Utilities during the 3rd quarter worth approximately $206,000. Finally, North Dakota State Investment Board grew its holdings in Essential Utilities by 4.0% during the 3rd quarter. North Dakota State Investment Board now owns 8,673 shares of the company’s stock worth $340,000 after acquiring an additional 333 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WTRG. UBS Group dropped their price target on shares of Essential Utilities from $49.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, October 16th. Weiss Ratings upgraded shares of Essential Utilities from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 22nd. Finally, Barclays boosted their price objective on shares of Essential Utilities from $38.00 to $40.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.00.

Essential Utilities Trading Down 1.2%

WTRG opened at $45.49 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.40 and a debt-to-equity ratio of 1.13. The company has a fifty day moving average of $41.18 and a 200-day moving average of $39.56. Essential Utilities Inc. has a twelve month low of $36.10 and a twelve month high of $46.36. The stock has a market cap of $13.03 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 3.42 and a beta of 0.62.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.05. The company had revenue of $508.26 million during the quarter, compared to analyst estimates of $450.44 million. Essential Utilities had a net margin of 21.79% and a return on equity of 8.36%. Essential Utilities’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 EPS. On average, sell-side analysts predict that Essential Utilities Inc. will post 2.21 EPS for the current year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 10th will be issued a dividend of $0.3606 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.44 annualized dividend and a yield of 3.2%. Essential Utilities’s dividend payout ratio is 72.36%.

Essential Utilities Company Profile

Essential Utilities, Inc is a regulated utility company that provides water and wastewater services through its Aqua operations and natural gas distribution through Peoples Natural Gas. Its services include treating and delivering drinking water, collecting and treating wastewater, and supplying natural gas to homes and businesses.

The company traces its water utility roots to the Springfield Water Company, founded in Pennsylvania in 1886. It adopted the Essential Utilities name in 2020, following its acquisition of Peoples Natural Gas and the expansion of its business beyond water and wastewater services.

Essential Utilities serves customers in several states, including Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia.