Koss Olinger Consulting LLC Buys New Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Koss Olinger Consulting LLC bought a new stake in shares of Essential Utilities, Inc. (NYSE:WTRG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,010 shares of the company’s stock, valued at approximately $400,000.

Several other institutional investors also recently bought and sold shares of the stock. VSM Wealth Advisory LLC purchased a new stake in Essential Utilities during the 4th quarter valued at about $26,000. Xponance Inc. lifted its holdings in Essential Utilities by 8.3% in the 4th quarter. Xponance Inc. now owns 42,397 shares of the company’s stock worth $1,540,000 after buying an additional 3,249 shares during the period. Generali Asset Management SPA SGR purchased a new stake in Essential Utilities in the 4th quarter worth approximately $1,290,000. Thrivent Financial for Lutherans lifted its holdings in Essential Utilities by 112.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 126,590 shares of the company’s stock worth $4,597,000 after buying an additional 66,959 shares during the period. Finally, Gitterman Wealth Management LLC lifted its holdings in Essential Utilities by 11.1% in the 4th quarter. Gitterman Wealth Management LLC now owns 10,243 shares of the company’s stock worth $372,000 after buying an additional 1,020 shares during the period. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Trading Down 1.4 %

WTRG opened at $39.14 on Thursday. The stock has a market cap of $10.76 billion, a PE ratio of 19.57, a PEG ratio of 2.57 and a beta of 0.79. 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 business has a 50 day moving average of $36.44 and a 200-day moving average of $37.84. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78.

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

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities’s dividend payout ratio (DPR) is presently 59.91%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on WTRG shares. UBS Group dropped their price objective on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Evercore ISI increased their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their price objective 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 analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.50.

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.