Geode Capital Management LLC Purchases 11,336 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Geode Capital Management LLC grew its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,317,312 shares of the company’s stock after purchasing an additional 11,336 shares during the period. Geode Capital Management LLC owned about 1.57% of Essential Utilities worth $156,526,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Captrust Financial Advisors lifted its holdings in Essential Utilities by 43.3% during the third quarter. Captrust Financial Advisors now owns 17,981 shares of the company’s stock worth $694,000 after acquiring an additional 5,432 shares during the period. Centiva Capital LP purchased a new stake in shares of Essential Utilities in the third quarter worth about $400,000. HighTower Advisors LLC boosted its holdings in Essential Utilities by 3.7% in the 3rd quarter. HighTower Advisors LLC now owns 97,714 shares of the company’s stock valued at $3,781,000 after purchasing an additional 3,501 shares during the period. Janus Henderson Group PLC boosted its stake in Essential Utilities by 15.7% during the third quarter. Janus Henderson Group PLC now owns 46,753 shares of the company’s stock valued at $1,803,000 after buying an additional 6,344 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in shares of Essential Utilities by 19.9% during the third quarter. Quantinno Capital Management LP now owns 12,156 shares of the company’s stock worth $469,000 after purchasing an additional 2,014 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Price Performance

WTRG opened at $38.35 on Tuesday. The firm has a market cap of $10.57 billion, a PE ratio of 19.18, a P/E/G ratio of 2.57 and a beta of 0.80. 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 1 year low of $33.18 and a 1 year high of $41.78. The stock has a 50-day moving average price of $37.62 and a 200-day moving average price of $37.83.

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

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a $0.3255 dividend. This represents a $1.30 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s payout ratio is currently 59.91%.

Wall Street Analysts Forecast Growth

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

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.