Blume Capital Management Inc. lessened its stake in shares of Essential Utilities Inc. (NYSE:WTRG – Free Report) by 45.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,947 shares of the company’s stock after selling 1,600 shares during the period. Blume Capital Management Inc.’s holdings in Essential Utilities were worth $72,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Trust Walden Corp increased its stake in Essential Utilities by 2.7% during the 2nd quarter. Boston Trust Walden Corp now owns 2,544,883 shares of the company’s stock worth $94,517,000 after buying an additional 68,072 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Essential Utilities by 3.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,438,783 shares of the company’s stock worth $96,405,000 after acquiring an additional 92,112 shares during the last quarter. Maple Brown Abbott Ltd acquired a new position in Essential Utilities in the 1st quarter valued at $94,251,000. Cbre Investment Management Listed Real Assets LLC raised its stake in Essential Utilities by 6.1% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,166,797 shares of the company’s stock valued at $85,653,000 after purchasing an additional 123,786 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Essential Utilities by 1.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,103,777 shares of the company’s stock valued at $83,162,000 after purchasing an additional 31,909 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.
Essential Utilities Price Performance
Shares of WTRG stock opened at $41.70 on Wednesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.73 and a quick ratio of 0.58. The company has a market capitalization of $11.70 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 4.37 and a beta of 0.82. The firm’s 50-day moving average is $39.16 and its two-hundred day moving average is $38.67. Essential Utilities Inc. has a 12 month low of $33.18 and a 12 month high of $42.04.
Essential Utilities Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.3426 per share. This represents a $1.37 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, August 12th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.33. Essential Utilities’s dividend payout ratio is 58.80%.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on WTRG. Zacks Research lowered shares of Essential Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Wall Street Zen upgraded shares of Essential Utilities from a “sell” rating to a “hold” rating in a research report on Saturday, October 11th. Robert W. Baird increased their price objective on shares of Essential Utilities from $46.00 to $47.00 and gave the company an “outperform” rating in a report on Monday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Essential Utilities in a research note on Wednesday, October 8th. Finally, UBS Group upped their price target on Essential Utilities from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, August 15th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.17.
Check Out Our Latest Stock Report on Essential Utilities
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.
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