Essential Utilities, Inc. (NYSE:WTRG) CAO Robert A. Rubin Sells 2,023 Shares

Essential Utilities, Inc. (NYSE:WTRG) CAO Robert A. Rubin sold 2,023 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total value of $73,960.88. Following the completion of the transaction, the chief accounting officer now directly owns 13,358 shares in the company, valued at $488,368.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Essential Utilities Stock Performance

Essential Utilities stock traded up $0.08 during midday trading on Friday, reaching $37.76. 1,473,728 shares of the stock traded hands, compared to its average volume of 1,801,550. The firm has a fifty day moving average price of $35.80 and a two-hundred day moving average price of $35.83. Essential Utilities, Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $43.74. The firm has a market cap of $10.33 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 3.24 and a beta of 0.80. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings data on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. The business had revenue of $479.40 million during the quarter, compared to analyst estimates of $708.50 million. During the same period in the prior year, the company posted $0.44 EPS. The business’s revenue for the quarter was down 32.0% compared to the same quarter last year. On average, equities research analysts forecast that Essential Utilities, Inc. will post 2 earnings per share for the current year.

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.3071 per share. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.23 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Thursday, May 9th. Essential Utilities’s dividend payout ratio (DPR) is presently 66.13%.

Analyst Ratings Changes

Separately, Evercore ISI lowered their price objective on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Institutional Trading of Essential Utilities

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bare Financial Services Inc bought a new stake in Essential Utilities during the fourth quarter worth approximately $25,000. Tradewinds Capital Management LLC boosted its stake in shares of Essential Utilities by 857.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after acquiring an additional 626 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Essential Utilities by 604.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock worth $27,000 after acquiring an additional 610 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Essential Utilities by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after purchasing an additional 325 shares during the period. Finally, Valley National Advisers Inc. lifted its holdings in shares of Essential Utilities by 4,210.0% during the fourth quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock valued at $32,000 after purchasing an additional 842 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Company 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.