Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 1.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 533,009 shares of the company’s stock after selling 9,075 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.20% of Essential Utilities worth $19,908,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its holdings in shares of Essential Utilities by 604.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock worth $27,000 after buying an additional 610 shares during the last quarter. Valley National Advisers Inc. increased its holdings in shares of Essential Utilities by 4,210.0% during the 4th quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after buying an additional 842 shares during the last quarter. Resources Management Corp CT ADV increased its holdings in shares of Essential Utilities by 250.0% during the 3rd quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company’s stock worth $36,000 after buying an additional 750 shares during the last quarter. Orion Capital Management LLC acquired a new stake in shares of Essential Utilities during the 3rd quarter worth $39,000. Finally, Larson Financial Group LLC acquired a new stake in shares of Essential Utilities during the 3rd quarter worth $41,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Up 1.3 %

Shares of Essential Utilities stock opened at $35.90 on Tuesday. The company has a fifty day moving average price of $35.69 and a 200 day moving average price of $35.69. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. Essential Utilities, Inc. has a twelve month low of $32.07 and a twelve month high of $44.05. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 3.08 and a beta of 0.82.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Friday, February 23rd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Essential Utilities had a net margin of 24.26% and a return on equity of 8.68%. The firm had revenue of $479.40 million during the quarter, compared to analysts’ expectations of $708.50 million. During the same period in the prior year, the company earned $0.44 EPS. The firm’s revenue was down 32.0% on a year-over-year basis. Equities research analysts forecast that Essential Utilities, Inc. will post 2 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a $0.3071 dividend. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.23 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend is Thursday, May 9th. Essential Utilities’s dividend payout ratio is presently 66.13%.

Analyst Ratings Changes

Separately, Evercore ISI dropped their price objective on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Essential Utilities has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Buying and Selling at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 5,565 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $37.21, for a total value of $207,073.65. Following the completion of the transaction, the chief accounting officer now directly owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.21% of the stock is currently owned by corporate insiders.

About Essential Utilities

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.