Franklin Resources Inc. Has $39.80 Million Stake in Essential Utilities, Inc. (NYSE:WTRG)

Franklin Resources Inc. increased its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 997,399 shares of the company’s stock after buying an additional 10,427 shares during the period. Franklin Resources Inc.’s holdings in Essential Utilities were worth $39,796,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WTRG. Friedenthal Financial acquired a new position in Essential Utilities during the 3rd quarter worth $25,000. Brooklyn Investment Group acquired a new position in shares of Essential Utilities during the 3rd quarter worth about $26,000. Darwin Wealth Management LLC bought a new stake in Essential Utilities during the 3rd quarter valued at approximately $28,000. First Horizon Advisors Inc. grew its holdings in Essential Utilities by 61.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 294 shares during the last quarter. Finally, Truvestments Capital LLC bought a new position in Essential Utilities in the 3rd quarter worth approximately $42,000. 74.78% of the stock is owned by institutional investors.

Essential Utilities Stock Down 0.9 %

WTRG opened at $37.99 on Wednesday. Essential Utilities, Inc. has a fifty-two week low of $33.57 and a fifty-two week high of $41.78. The company has a market capitalization of $10.43 billion, a P/E ratio of 19.00, a P/E/G ratio of 3.06 and a beta of 0.85. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The firm’s fifty day moving average price is $39.34 and its two-hundred day moving average price is $38.97.

Essential Utilities (NYSE:WTRG) last issued 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 business had revenue of $435.30 million for the quarter, compared to analyst estimates of $416.95 million. During the same period in the previous year, the business earned $0.30 EPS. The firm’s revenue 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 year.

Essential Utilities Announces Dividend

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 $0.3255 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.43%. Essential Utilities’s dividend payout ratio is currently 65.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WTRG shares. Robert W. Baird increased their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. Jefferies Financial Group downgraded shares of Essential Utilities from a “buy” rating to a “hold” rating and reduced their price target for the company from $44.00 to $41.00 in a report on Thursday, November 7th. Wells Fargo & Company dropped their price objective on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Bank of America reiterated a “buy” rating and issued a $45.00 target price on shares of Essential Utilities in a research note on Friday, September 20th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Essential Utilities Company 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.