Essential Utilities, Inc. (NYSE:WTRG) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System raised its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,514 shares of the company’s stock after purchasing an additional 1,068 shares during the quarter. Arizona State Retirement System’s holdings in Essential Utilities were worth $2,743,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Brooklyn Investment Group purchased a new position in shares of Essential Utilities during the third quarter worth about $26,000. Darwin Wealth Management LLC acquired a new stake in Essential Utilities during the 3rd quarter worth approximately $28,000. First Horizon Advisors Inc. grew its stake in shares of Essential Utilities by 61.4% in the 3rd 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 increased its holdings in shares of Essential Utilities by 75.0% in 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 period. Finally, Truvestments Capital LLC purchased a new stake in shares of Essential Utilities during the third quarter worth approximately $42,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Performance

NYSE:WTRG opened at $39.81 on Monday. The firm’s fifty day simple moving average is $35.85 and its 200-day simple moving average is $37.80. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The stock has a market cap of $10.95 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The company had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. Analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a yield of 3.27%. Essential Utilities’s dividend payout ratio is presently 59.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, January 28th. Wells Fargo & Company boosted 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. Finally, UBS Group reduced their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.50.

About Essential Utilities

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.