Private Advisor Group LLC Reduces Stock Position in Essential Utilities Inc. $WTRG

Private Advisor Group LLC cut its holdings in Essential Utilities Inc. (NYSE:WTRG) by 20.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 52,547 shares of the company’s stock after selling 13,130 shares during the period. Private Advisor Group LLC’s holdings in Essential Utilities were worth $2,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of WTRG. GoalVest Advisory LLC bought a new stake in Essential Utilities during the 4th quarter valued at $25,000. Fideuram Asset Management Ireland dac purchased a new position in shares of Essential Utilities in the fourth quarter valued at $27,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Essential Utilities in the fourth quarter valued at $32,000. Motiv8 Investments LLC bought a new stake in shares of Essential Utilities during the 4th quarter valued at $35,000. Finally, Rosenberg Matthew Hamilton raised its stake in shares of Essential Utilities by 31,466.7% during the 4th quarter. Rosenberg Matthew Hamilton now owns 947 shares of the company’s stock valued at $36,000 after purchasing an additional 944 shares during the period. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Stock Performance

Shares of NYSE WTRG opened at $38.60 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.84 and a debt-to-equity ratio of 1.21. Essential Utilities Inc. has a 1-year low of $36.10 and a 1-year high of $42.37. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 19.59 and a beta of 0.65. The stock’s 50-day moving average is $37.58 and its 200 day moving average is $38.77.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.07). Essential Utilities had a net margin of 21.82% and a return on equity of 8.34%. The business had revenue of $861.76 million for the quarter, compared to analysts’ expectations of $782.90 million. During the same period last year, the business earned $1.03 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. On average, sell-side analysts anticipate that Essential Utilities Inc. will post 2.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on WTRG. Wall Street Zen upgraded Essential Utilities to a “sell” rating in a research note on Saturday, July 4th. Argus upgraded Essential Utilities to a “strong-buy” rating in a research report on Monday, March 23rd. UBS Group increased their price target on shares of Essential Utilities from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Essential Utilities in a research note on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.40.

Essential Utilities Company 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.