Addison Capital Co Sells 1,561 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Addison Capital Co trimmed its position in Essential Utilities, Inc. (NYSE:WTRG) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,088 shares of the company’s stock after selling 1,561 shares during the quarter. Addison Capital Co’s holdings in Essential Utilities were worth $1,165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WTRG. Brooklyn Investment Group acquired a new position in shares of Essential Utilities during the 3rd quarter worth $26,000. Darwin Wealth Management LLC acquired a new position in Essential Utilities during the third quarter worth about $28,000. First Horizon Advisors Inc. lifted its holdings in shares of Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after acquiring an additional 294 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Essential Utilities by 75.0% in the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after purchasing an additional 473 shares in the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Essential Utilities during the 3rd quarter valued at approximately $42,000. 74.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on WTRG shares. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, January 28th. UBS Group cut their price objective on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Evercore ISI upped their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company boosted their price target on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Essential Utilities has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Essential Utilities Stock Up 1.0 %

Shares of WTRG opened at $39.54 on Monday. The company has a market capitalization of $10.87 billion, a PE ratio of 19.77, a PEG ratio of 2.57 and a beta of 0.79. The stock’s 50-day moving average price is $36.18 and its two-hundred day moving average price is $37.82. 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.

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

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s payout ratio is 59.91%.

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.