Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC lessened its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 23.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,277 shares of the company’s stock after selling 5,189 shares during the period. Cullen Capital Management LLC’s holdings in Essential Utilities were worth $628,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blair William & Co. IL lifted its position in shares of Essential Utilities by 1.2% during the 4th quarter. Blair William & Co. IL now owns 24,652 shares of the company’s stock worth $895,000 after purchasing an additional 285 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its stake in Essential Utilities by 4.8% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 6,342 shares of the company’s stock valued at $230,000 after buying an additional 289 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Essential Utilities by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company’s stock worth $2,546,000 after acquiring an additional 300 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of Essential Utilities by 1.7% during the 4th quarter. Rothschild Investment LLC now owns 19,527 shares of the company’s stock worth $709,000 after acquiring an additional 317 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Essential Utilities by 7.2% in the 4th quarter. GAMMA Investing LLC now owns 4,946 shares of the company’s stock valued at $180,000 after acquiring an additional 332 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Shares of Essential Utilities stock opened at $39.62 on Friday. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.57 and a beta of 0.80. The firm’s fifty day simple moving average is $37.56 and its 200-day simple moving average is $37.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.78.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. As a group, equities analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.29%. Essential Utilities’s payout ratio is 59.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, January 28th. Wells Fargo & Company upped their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. StockNews.com raised shares of Essential Utilities from a “sell” rating to a “hold” rating in a research report on Friday. Evercore ISI boosted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Finally, UBS Group decreased their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.50.

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.