Essential Utilities, Inc. (NYSE:WTRG) Shares Acquired by Byrne Asset Management LLC

Byrne Asset Management LLC raised its position in Essential Utilities, Inc. (NYSE:WTRG) by 1,485.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,902 shares of the company’s stock after acquiring an additional 1,782 shares during the quarter. Byrne Asset Management LLC’s holdings in Essential Utilities were worth $75,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of WTRG. Norges Bank acquired a new position in Essential Utilities in the 4th quarter valued at $102,600,000. Vanguard Group Inc. increased its stake in Essential Utilities by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 30,061,135 shares of the company’s stock valued at $1,091,820,000 after buying an additional 2,245,256 shares during the period. Pictet Asset Management Holding SA increased its stake in Essential Utilities by 31.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,726,215 shares of the company’s stock valued at $244,296,000 after buying an additional 1,597,672 shares during the period. Cohen & Steers Inc. purchased a new stake in shares of Essential Utilities during the 4th quarter worth $52,355,000. Finally, Ensign Peak Advisors Inc boosted its position in shares of Essential Utilities by 74.6% during the 4th quarter. Ensign Peak Advisors Inc now owns 1,593,053 shares of the company’s stock worth $57,860,000 after purchasing an additional 680,760 shares in the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Price Performance

Essential Utilities stock opened at $38.00 on Friday. Essential Utilities, Inc. has a 52 week low of $33.18 and a 52 week high of $41.78. 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 firm’s 50-day simple moving average is $39.22 and its 200 day simple moving average is $37.89. The firm has a market capitalization of $10.65 billion, a PE ratio of 19.00, a P/E/G ratio of 2.57 and a beta of 0.81.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Monday, May 12th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.80 by $0.23. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The business had revenue of $783.63 million for the quarter, compared to analyst estimates of $713.80 million. During the same period in the previous year, the firm earned $0.97 EPS. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. On average, equities research analysts predict that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on WTRG shares. Evercore ISI boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. Wall Street Zen upgraded shares of Essential Utilities from a “sell” rating to a “hold” rating in a research report on Sunday, April 20th. Wells Fargo & Company boosted their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Finally, Robert W. Baird decreased their target price on shares of Essential Utilities from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.