BNP PARIBAS ASSET MANAGEMENT Holding S.A. Grows Position in Essential Utilities, Inc. (NYSE:WTRG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Essential Utilities, Inc. (NYSE:WTRG) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 321,179 shares of the company’s stock after buying an additional 17,036 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.12% of Essential Utilities worth $12,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WTRG. Friedenthal Financial purchased a new stake in Essential Utilities in the 3rd quarter valued at $25,000. Darwin Wealth Management LLC purchased a new stake in shares of Essential Utilities in the third quarter valued at about $28,000. First Horizon Advisors Inc. boosted its stake in shares of Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares during the period. Voisard Asset Management Group Inc. purchased a new position in shares of Essential Utilities during the second quarter worth about $37,000. Finally, Farther Finance Advisors LLC increased its position in Essential Utilities by 81.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company’s stock valued at $44,000 after acquiring an additional 515 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Essential Utilities stock opened at $39.53 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. Essential Utilities, Inc. has a fifty-two week low of $33.57 and a fifty-two week high of $41.78. The stock has a fifty day moving average of $39.04 and a two-hundred day moving average of $38.84. The company has a market capitalization of $10.86 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 3.11 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last announced its earnings results 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 net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $435.30 million during the quarter, compared to the consensus estimate of $416.95 million. During the same quarter in the previous year, the company posted $0.30 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts anticipate that Essential Utilities, Inc. will post 2.01 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.30 dividend on an annualized basis and a yield of 3.29%. Essential Utilities’s dividend payout ratio (DPR) is currently 65.00%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Bank of America reaffirmed a “buy” rating and set a $45.00 price objective on shares of Essential Utilities in a research report on Friday, September 20th. Robert W. Baird increased their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Evercore ISI lifted their price objective on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Jefferies Financial Group downgraded Essential Utilities from a “buy” rating to a “hold” rating and cut their target price for the stock from $44.00 to $41.00 in a research note on Thursday, November 7th. Finally, Wells Fargo & Company decreased 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Essential Utilities has an average rating of “Moderate Buy” and a consensus price target of $44.00.

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.