Essential Utilities Inc. $WTRG is John G Ullman & Associates Inc.’s 10th Largest Position

John G Ullman & Associates Inc. lifted its holdings in shares of Essential Utilities Inc. (NYSE:WTRG) by 74.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 464,925 shares of the company’s stock after acquiring an additional 198,923 shares during the period. Essential Utilities makes up approximately 2.5% of John G Ullman & Associates Inc.’s investment portfolio, making the stock its 10th largest holding. John G Ullman & Associates Inc. owned 0.17% of Essential Utilities worth $18,551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American National Bank & Trust purchased a new stake in Essential Utilities during the 3rd quarter worth approximately $27,000. SouthState Corp lifted its stake in shares of Essential Utilities by 834.7% during the second quarter. SouthState Corp now owns 701 shares of the company’s stock worth $26,000 after buying an additional 626 shares during the period. Atlantic Union Bankshares Corp grew its holdings in shares of Essential Utilities by 1,163.8% during the third quarter. Atlantic Union Bankshares Corp now owns 733 shares of the company’s stock valued at $29,000 after buying an additional 675 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Essential Utilities by 43.6% in the 3rd quarter. Bessemer Group Inc. now owns 1,114 shares of the company’s stock valued at $45,000 after acquiring an additional 338 shares during the period. Finally, True Wealth Design LLC increased its position in shares of Essential Utilities by 141.2% in the 3rd quarter. True Wealth Design LLC now owns 1,213 shares of the company’s stock valued at $48,000 after acquiring an additional 710 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Trading Up 0.8%

Essential Utilities stock opened at $37.68 on Friday. The firm has a market cap of $10.67 billion, a PE ratio of 15.64 and a beta of 0.81. Essential Utilities Inc. has a 12 month low of $34.58 and a 12 month high of $42.37. The stock’s 50 day simple moving average is $38.58 and its two-hundred day simple moving average is $38.88. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.13.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Wednesday, November 5th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.06. Essential Utilities had a net margin of 28.09% and a return on equity of 10.20%. The firm had revenue of $476.97 million during the quarter, compared to analyst estimates of $472.40 million. During the same period in the previous year, the firm earned $0.25 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts anticipate that Essential Utilities Inc. will post 1.99 earnings per share for the current year.

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be issued a $0.3426 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.37 dividend on an annualized basis and a yield of 3.6%. Essential Utilities’s payout ratio is presently 56.85%.

Analysts Set New Price Targets

Several research firms have weighed in on WTRG. Robert W. Baird downgraded Essential Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Jefferies Financial Group downgraded Essential Utilities from a “buy” rating to a “hold” rating and decreased their target price for the stock from $47.00 to $44.00 in a report on Tuesday, October 28th. UBS Group reiterated a “neutral” rating and issued a $45.00 price target (down previously from $46.00) on shares of Essential Utilities in a report on Tuesday, October 28th. Northcoast Research upgraded shares of Essential Utilities from a “neutral” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Wednesday, December 3rd. Finally, Barclays set a $38.00 price objective on shares of Essential Utilities and gave the stock an “underweight” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.29.

Essential Utilities Profile

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.