XTX Topco Ltd Cuts Holdings in Essential Utilities, Inc. (NYSE:WTRG)

XTX Topco Ltd reduced its stake in shares of Essential Utilities, Inc. (NYSE:WTRG) by 55.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,813 shares of the company’s stock after selling 18,434 shares during the period. XTX Topco Ltd’s holdings in Essential Utilities were worth $538,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WTRG. VSM Wealth Advisory LLC bought a new stake in Essential Utilities in the fourth quarter worth $26,000. IFP Advisors Inc boosted its holdings in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after acquiring an additional 473 shares during the period. New Age Alpha Advisors LLC bought a new position in Essential Utilities during the 4th quarter worth approximately $45,000. Bessemer Group Inc. increased its stake in Essential Utilities by 98.9% in the 4th quarter. Bessemer Group Inc. now owns 1,565 shares of the company’s stock worth $56,000 after purchasing an additional 778 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in Essential Utilities in the fourth quarter valued at approximately $60,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Trading Up 1.1 %

Shares of Essential Utilities stock opened at $40.50 on Friday. Essential Utilities, Inc. has a 1-year low of $33.18 and a 1-year high of $41.78. The company’s fifty day simple moving average is $38.42 and its 200-day simple moving average is $37.89. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The stock has a market capitalization of $11.16 billion, a PE ratio of 20.25, a P/E/G ratio of 2.57 and a beta of 0.80.

Essential Utilities (NYSE:WTRG) last issued its quarterly 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 analysts’ expectations of $698.77 million. As a group, equities analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.21%. Essential Utilities’s payout ratio is currently 59.91%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WTRG. StockNews.com upgraded Essential Utilities from a “sell” rating to a “hold” rating in a report on Sunday. Evercore ISI raised their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. 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 report on Tuesday, January 14th. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company boosted their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.