Barclays PLC decreased its position in Essential Utilities, Inc. (NYSE:WTRG - Free Report) by 8.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 352,021 shares of the company's stock after selling 30,930 shares during the period. Barclays PLC owned approximately 0.13% of Essential Utilities worth $13,578,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. Friedenthal Financial bought a new stake in shares of Essential Utilities in the third quarter worth about $25,000. Brooklyn Investment Group acquired a new position in shares of Essential Utilities in the 3rd quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new position in shares of Essential Utilities in the 3rd quarter valued at approximately $28,000. First Horizon Advisors Inc. increased its stake in Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock worth $30,000 after purchasing an additional 294 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Essential Utilities during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 74.78% of the company's stock.
Essential Utilities stock opened at $38.69 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a 1-year low of $33.57 and a 1-year high of $41.78. The company has a fifty day simple moving average of $39.34 and a 200 day simple moving average of $38.96. The company has a market cap of $10.62 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 3.06 and a beta of 0.85.
Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company had revenue of $435.30 million during the quarter, compared to analysts' expectations of $416.95 million. During the same quarter last year, the company earned $0.30 EPS. Essential Utilities's revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts anticipate that Essential Utilities, Inc. will post 2.01 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Monday, February 10th. Essential Utilities's dividend payout ratio is currently 65.00%.
Several research firms have recently weighed in on WTRG. Bank of America reiterated a "buy" rating and issued a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Robert W. Baird upped 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. Wells Fargo & Company dropped their price target on Essential Utilities from $45.00 to $43.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group cut Essential Utilities from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $44.00 to $41.00 in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Essential Utilities presently has an average rating of "Moderate Buy" and an average target price of $44.00.
Get Our Latest Stock Analysis on Essential Utilities
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.
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