Capstone Investment Advisors LLC Purchases New Position in Essential Utilities, Inc. (NYSE:WTRG)

Capstone Investment Advisors LLC acquired a new position in shares of Essential Utilities, Inc. (NYSE:WTRG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,404 shares of the company’s stock, valued at approximately $478,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Friedenthal Financial bought a new position in shares of Essential Utilities during the third quarter valued at about $25,000. Brooklyn Investment Group bought a new position in shares of Essential Utilities during the 3rd quarter worth approximately $26,000. Darwin Wealth Management LLC purchased a new position in shares of Essential Utilities in the 3rd quarter worth approximately $28,000. First Horizon Advisors Inc. grew 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 valued at $30,000 after acquiring an additional 294 shares in the last quarter. Finally, Voisard Asset Management Group Inc. purchased a new stake in shares of Essential Utilities during the 2nd quarter valued at $37,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and decreased their price target for the stock from $44.00 to $41.00 in a research note on Thursday, November 7th. Bank of America reissued a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a report on Friday, September 20th. Evercore ISI upped their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Robert W. Baird lifted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company dropped their price target on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Essential Utilities Stock Down 0.5 %

WTRG stock opened at $40.07 on Friday. The stock has a 50-day simple moving average of $39.18 and a two-hundred day simple moving average of $38.89. Essential Utilities, Inc. has a twelve month low of $33.57 and a twelve month high of $41.78. The firm has a market capitalization of $11.00 billion, a PE ratio of 20.04, a PEG ratio of 3.19 and a beta of 0.84. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Monday, November 4th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $435.30 million during the quarter, compared to analyst estimates of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Essential Utilities’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.30 earnings per share. On average, equities analysts predict that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.3255 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.25%. Essential Utilities’s payout ratio is currently 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.