19 hours Ago By Defense World Staff
Charles Schwab Investment Management Inc. grew its stake in Essential Utilities, Inc. ( NYSE:WTRG – Free Report ) by 10.
7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,071,868 shares of the company’s stock after acquiring an additional 199,936 shares during the quarter. Charles Schwab Investment Management Inc.
owned 0.75% of Essential Utilities worth $75,250,000 at the end of the most recent quarter. Other institutional investors and hedge funds also recently modified their holdings of the company.
Nordea Investment Management AB increased its stake in Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after purchasing an additional 972,803 shares in the last quarter.
Point72 Asset Management L.P. bought a new stake in Essential Utilities during the 3rd quarter worth approximately $30,842,000.
Allianz Asset Management GmbH increased its stake in Essential Utilities by 51.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,935,818 shares of the company’s stock worth $70,309,000 after purchasing an additional 656,136 shares in the last quarter.
JPMorgan Chase & Co. increased its stake in Essential Utilities by 33.1% during the 3rd quarter.
JPMorgan Chase & Co. now owns 953,984 shares of the company’s stock worth $36,795,000 after purchasing an additional 237,096 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in Essential Utilities during the 3rd quarter worth approximately $7,301,000.
74.78% of the stock is owned by institutional investors. Analysts Set New Price Targets A number of analysts recently issued reports on WTRG shares.
Evercore ISI increased their target price 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 target 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.
Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company raised their price target on shares of Essential Utilities from $39.
00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company.
According to MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and an average target price of $43.50.
Essential Utilities Trading Up 1.9 % NYSE WTRG opened at $40.56 on Tuesday.
The company has a market cap of $11.15 billion, a PE ratio of 20.28, a PEG ratio of 2.
57 and a beta of 0.79. The company has a current ratio of 0.
55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.
Essential Utilities, Inc. has a 12 month low of $33.18 and a 12 month high of $41.
78. The stock has a 50 day moving average of $35.94 and a 200-day moving average of $37.
82. Essential Utilities ( NYSE:WTRG – Get Free Report ) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.
67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01.
The company had revenue of $604.38 million during the quarter, compared to the consensus estimate of $698.77 million.
Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%.
On average, equities research analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.
Essential Utilities Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders 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 3.21%.
The ex-dividend date is Tuesday, May 13th. Essential Utilities’s payout ratio is presently 59.91%.
Essential Utilities Company Profile ( Free Report ) 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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