W.H. Cornerstone Investments Inc. Lowers Stake in Essential Utilities, Inc. (NYSE:WTRG)

W.H. Cornerstone Investments Inc. reduced its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 17.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,837 shares of the company’s stock after selling 1,409 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Essential Utilities were worth $248,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WTRG. Friedenthal Financial purchased a new position in Essential Utilities in the 3rd quarter valued at about $25,000. Brooklyn Investment Group purchased a new position in Essential Utilities in the 3rd quarter valued at about $26,000. Darwin Wealth Management LLC purchased a new position in Essential Utilities in the 3rd quarter valued at about $28,000. First Horizon Advisors Inc. lifted its stake 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 in the last quarter. Finally, Truvestments Capital LLC purchased a new position in Essential Utilities in the 3rd quarter valued at about $42,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Stock Up 0.3 %

Essential Utilities stock opened at $35.84 on Friday. Essential Utilities, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The firm has a 50 day moving average price of $35.99 and a 200 day moving average price of $38.15. The company has a market capitalization of $9.84 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.53 and a beta of 0.86.

Essential Utilities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be issued a $0.3255 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 annualized dividend and a yield of 3.63%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Analysts Set New Price Targets

A number of research firms have weighed in on WTRG. UBS Group decreased their target price on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company lowered shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $43.00 to $39.00 in a research note on Tuesday, January 7th. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, January 28th. Finally, Robert W. Baird raised 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.00.

About 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.