Oregon Public Employees Retirement Fund Has $1.87 Million Stake in Essential Utilities, Inc. (NYSE:WTRG)

Oregon Public Employees Retirement Fund raised its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,374 shares of the company’s stock after buying an additional 400 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Essential Utilities were worth $1,866,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of WTRG. Brooklyn Investment Group acquired a new stake in shares of Essential Utilities during the third quarter worth approximately $26,000. Darwin Wealth Management LLC acquired a new stake in shares of Essential Utilities during the third quarter worth approximately $28,000. First Horizon Advisors Inc. grew its stake in shares of Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after purchasing an additional 294 shares during the last quarter. IFP Advisors Inc grew its stake in shares of Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after purchasing an additional 473 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Essential Utilities during the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group decreased their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock 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 on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company increased 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 note on Thursday. Finally, Robert W. Baird increased their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.33.

Essential Utilities Price Performance

Shares of WTRG stock opened at $37.96 on Friday. Essential Utilities, Inc. has a 52-week low of $33.18 and a 52-week high of $41.78. The stock has a market cap of $10.42 billion, a PE ratio of 18.98, a PEG ratio of 2.57 and a beta of 0.87. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The firm’s 50 day moving average price is $35.60 and its two-hundred day moving average price is $37.85.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $604.38 million for the quarter, compared to analysts’ expectations of $698.77 million. As a group, analysts forecast that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.43%. Essential Utilities’s payout ratio is presently 65.00%.

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.