Bernardo Wealth Planning LLC lessened its stake in Essential Utilities Inc (NASDAQ:WTRG) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,786 shares of the company’s stock after selling 930 shares during the quarter. Bernardo Wealth Planning LLC’s holdings in Essential Utilities were worth $1,037,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp acquired a new stake in Essential Utilities during the 1st quarter worth $437,680,000. Morgan Stanley acquired a new stake in Essential Utilities during the 1st quarter worth $67,210,000. Vanguard Group Inc. boosted its stake in Essential Utilities by 6.6% during the 2nd quarter. Vanguard Group Inc. now owns 25,515,898 shares of the company’s stock worth $1,077,791,000 after purchasing an additional 1,587,194 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Essential Utilities during the 2nd quarter worth $44,547,000. Finally, Nuance Investments LLC boosted its stake in Essential Utilities by 48.7% during the 2nd quarter. Nuance Investments LLC now owns 1,847,263 shares of the company’s stock worth $78,028,000 after purchasing an additional 604,573 shares during the last quarter.
NASDAQ WTRG opened at $44.12 on Monday. The firm’s 50-day moving average is $40.72 and its two-hundred day moving average is $42.60. Essential Utilities Inc has a 12 month low of $30.40 and a 12 month high of $54.52.
Essential Utilities (NASDAQ:WTRG) last posted its earnings results on Wednesday, August 5th. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.05. The company had revenue of $384.47 million during the quarter, compared to analyst estimates of $352.00 million.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a $0.2507 dividend. The ex-dividend date is Thursday, November 12th. This represents a $1.00 dividend on an annualized basis and a yield of 2.27%.
Several equities research analysts have issued reports on WTRG shares. Goldman Sachs Group raised shares of Essential Utilities from a “neutral” rating to a “conviction-buy” rating in a research note on Monday, October 19th. Barclays assumed coverage on shares of Essential Utilities in a research note on Wednesday, July 15th. They set an “equal weight” rating and a $45.00 target price on the stock. Bank of America raised shares of Essential Utilities from a “neutral” rating to a “buy” rating in a research report on Monday, August 10th. BidaskClub raised shares of Essential Utilities from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 21st. Finally, BofA Securities raised shares of Essential Utilities from a “neutral” rating to a “buy” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Essential Utilities presently has a consensus rating of “Buy” and a consensus target price of $46.50.
In other Essential Utilities news, CEO Chris Franklin sold 21,869 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $46.50, for a total value of $1,016,908.50. Following the transaction, the chief executive officer now owns 144,768 shares of the company’s stock, valued at $6,731,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
About Essential Utilities
Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water services through operating and maintenance contracts with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through third-party.
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