Quadrant Capital Group LLC Increases Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Quadrant Capital Group LLC boosted its position in Essential Utilities, Inc. (NYSE:WTRG) by 10.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,890 shares of the company’s stock after buying an additional 366 shares during the quarter. Quadrant Capital Group LLC’s holdings in Essential Utilities were worth $155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of WTRG. WealthPLAN Partners LLC bought a new stake in Essential Utilities in the first quarter worth $25,000. BOKF NA bought a new position in shares of Essential Utilities in the first quarter worth approximately $27,000. Atlantic Private Wealth LLC bought a new position in shares of Essential Utilities in the first quarter worth approximately $28,000. Capital Advisors Ltd. LLC increased its stake in shares of Essential Utilities by 160.5% in the second quarter. Capital Advisors Ltd. LLC now owns 732 shares of the company’s stock worth $29,000 after buying an additional 451 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in Essential Utilities during the 1st quarter valued at $38,000. 73.01% of the stock is currently owned by institutional investors.

Essential Utilities Stock Down 1.5 %

NYSE:WTRG opened at $35.03 on Tuesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.46 and a quick ratio of 0.31. The firm’s 50-day moving average price is $34.61 and its 200-day moving average price is $38.18. The company has a market capitalization of $9.57 billion, a PE ratio of 19.46, a P/E/G ratio of 3.39 and a beta of 0.77. Essential Utilities, Inc. has a 1-year low of $32.07 and a 1-year high of $49.89.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. The business had revenue of $411.26 million for the quarter, compared to analysts’ expectations of $455.20 million. Essential Utilities had a net margin of 20.95% and a return on equity of 8.52%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, equities analysts predict that Essential Utilities, Inc. will post 1.86 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be issued a $0.3071 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.23 annualized dividend and a yield of 3.51%. Essential Utilities’s dividend payout ratio (DPR) is presently 67.78%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Northcoast Research upgraded shares of Essential Utilities from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Thursday, September 28th. StockNews.com lowered Essential Utilities from a “hold” rating to a “sell” rating in a research report on Wednesday, November 15th. TheStreet lowered Essential Utilities from a “b-” rating to a “c+” rating in a research report on Friday, September 15th. Edward Jones raised Essential Utilities from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. Finally, UBS Group dropped their price target on Essential Utilities from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.25.

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.