Generali Asset Management SPA SGR Acquires New Position in Essential Utilities, Inc. (NYSE:WTRG)

Generali Asset Management SPA SGR acquired a new stake in shares of Essential Utilities, Inc. (NYSE:WTRG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 35,531 shares of the company’s stock, valued at approximately $1,290,000.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB grew its position in Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after acquiring an additional 972,803 shares during the last quarter. Geode Capital Management LLC grew its position in Essential Utilities by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company’s stock worth $165,701,000 after acquiring an additional 82,456 shares during the last quarter. Bank of New York Mellon Corp grew its position in Essential Utilities by 6.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,731,011 shares of the company’s stock worth $99,190,000 after acquiring an additional 175,707 shares during the last quarter. Duff & Phelps Investment Management Co. grew its position in Essential Utilities by 4.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock worth $97,632,000 after acquiring an additional 100,990 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Essential Utilities by 7.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company’s stock worth $83,088,000 after acquiring an additional 145,767 shares during the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Trading Down 0.8 %

NYSE WTRG opened at $38.82 on Friday. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities, Inc. has a twelve month low of $33.18 and a twelve month high of $41.78. The firm has a market capitalization of $10.67 billion, a PE ratio of 19.41, a P/E/G ratio of 2.57 and a beta of 0.79. The stock’s 50 day moving average is $36.52 and its 200 day moving average is $37.85.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 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 $604.38 million for the quarter, compared to analyst estimates of $698.77 million. Research analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.35%. Essential Utilities’s dividend payout ratio is presently 59.91%.

Analyst Ratings Changes

Several equities analysts recently issued reports on WTRG shares. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, January 28th. UBS Group reduced their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Wells Fargo & Company lifted their price objective on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Finally, Evercore ISI lifted their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.50.

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.