BLB&B Advisors LLC Cuts Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

BLB&B Advisors LLC lessened its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 10.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 59,589 shares of the company’s stock after selling 7,148 shares during the period. BLB&B Advisors LLC’s holdings in Essential Utilities were worth $2,164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WTRG. Spirit of America Management Corp NY boosted its position in Essential Utilities by 19.4% during the fourth quarter. Spirit of America Management Corp NY now owns 21,500 shares of the company’s stock valued at $781,000 after purchasing an additional 3,500 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Essential Utilities by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 351,291 shares of the company’s stock valued at $12,759,000 after buying an additional 1,339 shares during the last quarter. abrdn plc boosted its holdings in shares of Essential Utilities by 76.4% in the 4th quarter. abrdn plc now owns 175,721 shares of the company’s stock valued at $6,337,000 after buying an additional 76,091 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of Essential Utilities by 8.4% in the 4th quarter. Boston Trust Walden Corp now owns 2,126,907 shares of the company’s stock worth $77,249,000 after buying an additional 164,215 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Essential Utilities by 13.6% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,661 shares of the company’s stock worth $460,000 after acquiring an additional 1,516 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors.

Essential Utilities Price Performance

NYSE WTRG opened at $35.15 on Friday. The company has a market cap of $9.65 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.53 and a beta of 0.86. 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’s fifty day moving average price is $36.35 and its 200 day moving average price is $38.31. Essential Utilities, Inc. has a 1 year low of $33.18 and a 1 year high of $41.78.

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.3255 dividend. This represents a $1.30 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s payout ratio is 65.00%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WTRG. UBS Group lowered their target price 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 upgraded 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. Wells Fargo & Company lowered Essential Utilities from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $43.00 to $39.00 in a research report on Tuesday, January 7th. Finally, Robert W. Baird raised their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Essential Utilities has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.