Mitsubishi UFJ Asset Management UK Ltd. Sells 2,000 Shares of Essential Utilities Inc. (NYSE:WTRG)

Mitsubishi UFJ Asset Management UK Ltd. lowered its position in Essential Utilities Inc. (NYSE:WTRG) by 50.0% in the 1st quarter, Holdings Channel reports. The firm owned 2,000 shares of the company’s stock after selling 2,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Essential Utilities were worth $79,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of WTRG. Headlands Technologies LLC bought a new position in Essential Utilities in the first quarter worth approximately $31,000. Valley National Advisers Inc. bought a new position in Essential Utilities in the first quarter worth approximately $33,000. American National Bank & Trust bought a new position in Essential Utilities in the first quarter worth approximately $35,000. National Pension Service raised its stake in Essential Utilities by 75.0% in the first quarter. National Pension Service now owns 950 shares of the company’s stock worth $38,000 after buying an additional 407 shares in the last quarter. Finally, Orion Capital Management LLC bought a new position in Essential Utilities in the fourth quarter worth approximately $41,000. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

NYSE WTRG opened at $39.18 on Thursday. The firm’s fifty day simple moving average is $37.59 and its two-hundred day simple moving average is $38.13. The company has a current ratio of 0.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.13. Essential Utilities Inc. has a 12-month low of $33.18 and a 12-month high of $41.65. The firm has a market capitalization of $10.99 billion, a P/E ratio of 16.82, a P/E/G ratio of 3.56 and a beta of 0.78.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.09. Essential Utilities had a net margin of 27.62% and a return on equity of 10.10%. The business had revenue of $514.91 million for the quarter, compared to analyst estimates of $462.70 million. During the same period in the previous year, the company earned $0.28 earnings per share. The business’s revenue for the quarter was up 18.5% on a year-over-year basis. Analysts forecast that Essential Utilities Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.3426 dividend. This is an increase from Essential Utilities’s previous quarterly dividend of $0.33. This represents a $1.37 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, August 12th. Essential Utilities’s dividend payout ratio is presently 58.80%.

Analyst Ratings Changes

WTRG has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Essential Utilities from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Wall Street Zen raised shares of Essential Utilities from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.67.

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.