Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by BLB&B Advisors LLC

BLB&B Advisors LLC cut its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,589 shares of the company’s stock after selling 7,148 shares during the period. BLB&B Advisors LLC’s holdings in Essential Utilities were worth $2,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Friedenthal Financial acquired a new position in shares of Essential Utilities in the 3rd quarter valued at about $25,000. Brooklyn Investment Group purchased a new position in Essential Utilities during the third quarter valued at approximately $26,000. Darwin Wealth Management LLC acquired a new position in Essential Utilities in the third quarter valued at approximately $28,000. First Horizon Advisors Inc. boosted its position in Essential Utilities by 61.4% in 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 shares of Essential Utilities during the 3rd quarter worth approximately $42,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Stock Performance

NYSE:WTRG opened at $35.15 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. The stock has a market capitalization of $9.65 billion, a PE ratio of 17.58, a P/E/G ratio of 2.53 and a beta of 0.86. 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 fifty day moving average of $36.35 and a two-hundred day moving average of $38.31.

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a dividend of $0.3255 per share. The ex-dividend date is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.70%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WTRG shares. Robert W. Baird boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, November 6th. UBS Group decreased their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. 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, Wells Fargo & Company lowered Essential Utilities from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.