Sigma Planning Corp Decreases Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Sigma Planning Corp lowered its position in Essential Utilities, Inc. (NYSE:WTRG) by 38.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,442 shares of the company’s stock after selling 3,335 shares during the quarter. Sigma Planning Corp’s holdings in Essential Utilities were worth $203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its position in Essential Utilities by 604.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock worth $27,000 after buying an additional 610 shares in the last quarter. Lindbrook Capital LLC raised its stake in Essential Utilities by 78.9% in the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock valued at $28,000 after purchasing an additional 325 shares during the last quarter. Valley National Advisers Inc. lifted its holdings in Essential Utilities by 4,210.0% in the 4th quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock valued at $32,000 after purchasing an additional 842 shares in the last quarter. Resources Management Corp CT ADV grew its holdings in shares of Essential Utilities by 250.0% during the third 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 in the last quarter. Finally, Orion Capital Management LLC purchased a new position in shares of Essential Utilities during the 3rd quarter worth $39,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Stock Up 1.0 %

Shares of NYSE:WTRG opened at $36.46 on Tuesday. Essential Utilities, Inc. has a 1 year low of $32.07 and a 1 year high of $43.74. The stock has a 50-day simple moving average of $35.75 and a 200-day simple moving average of $35.79. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.62. The stock has a market capitalization of $9.97 billion, a P/E ratio of 19.60, a PEG ratio of 3.15 and a beta of 0.82.

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

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a $0.3071 dividend. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 9th. This represents a $1.23 annualized dividend and a dividend yield of 3.37%. Essential Utilities’s dividend payout ratio is presently 66.13%.

Insiders Place Their Bets

In other news, CAO Robert A. Rubin sold 5,565 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $37.21, for a total transaction of $207,073.65. Following the transaction, the chief accounting officer now directly owns 57,756 shares of the company’s stock, valued at $2,149,100.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.