Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its position in Essential Utilities, Inc. (NYSE:WTRG) by 1.8% during the third quarter, Holdings Channel reports. The fund owned 130,133 shares of the company’s stock after selling 2,380 shares during the quarter. MetLife Investment Management LLC’s holdings in Essential Utilities were worth $5,019,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC increased its stake in shares of Essential Utilities by 4,309.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company’s stock valued at $48,424,000 after purchasing an additional 1,227,010 shares during the period. Boston Trust Walden Corp increased its position in Essential Utilities by 117.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company’s stock valued at $75,701,000 after acquiring an additional 1,059,320 shares during the period. AMF Tjanstepension AB bought a new stake in Essential Utilities during the 2nd quarter valued at $11,853,000. Dimensional Fund Advisors LP boosted its position in Essential Utilities by 18.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,500,150 shares of the company’s stock worth $56,002,000 after acquiring an additional 234,857 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Essential Utilities by 8.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,871,932 shares of the company’s stock worth $72,200,000 after purchasing an additional 149,162 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WTRG has been the topic of a number of recent analyst reports. Evercore ISI upped their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and reduced their price target for the stock from $44.00 to $41.00 in a research note on Thursday, November 7th. Wells Fargo & Company dropped their target price on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Robert W. Baird increased their price target on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. Finally, Bank of America reissued a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a research note on Friday, September 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Essential Utilities Trading Down 0.6 %

Essential Utilities stock opened at $40.03 on Monday. The firm has a market cap of $10.99 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 3.17 and a beta of 0.84. Essential Utilities, Inc. has a 1 year low of $33.57 and a 1 year high of $41.78. The firm’s 50 day moving average price is $39.18 and its two-hundred day moving average price is $38.88. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $435.30 million for the quarter, compared to analysts’ expectations of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. On average, research analysts predict that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, November 12th. Essential Utilities’s dividend payout ratio is presently 65.00%.

Essential Utilities Profile

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.