Mutual of America Capital Management LLC Reduces Position in Essential Utilities, Inc. (NYSE:WTRG)

Mutual of America Capital Management LLC trimmed its position in Essential Utilities, Inc. (NYSE:WTRGFree Report) by 9.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,036 shares of the company’s stock after selling 17,008 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Essential Utilities worth $5,425,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Choreo LLC grew its stake in shares of Essential Utilities by 3.1% in the 3rd quarter. Choreo LLC now owns 10,417 shares of the company’s stock worth $358,000 after buying an additional 311 shares in the last quarter. Wade G W & Inc. purchased a new position in Essential Utilities in the third quarter worth about $220,000. HighTower Advisors LLC raised its position in Essential Utilities by 27.2% during the third quarter. HighTower Advisors LLC now owns 77,114 shares of the company’s stock valued at $2,633,000 after purchasing an additional 16,496 shares during the period. Pathstone Family Office LLC raised its position in Essential Utilities by 86.9% during the third quarter. Pathstone Family Office LLC now owns 9,825 shares of the company’s stock valued at $337,000 after purchasing an additional 4,569 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Essential Utilities by 8.5% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,884 shares of the company’s stock worth $477,000 after purchasing an additional 1,093 shares during the period. 73.01% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Trading Down 0.4 %

Essential Utilities stock opened at $35.30 on Monday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.31 and a current ratio of 0.46. The stock has a market cap of $9.64 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 3.07 and a beta of 0.83. The stock has a 50-day moving average of $36.84 and a two-hundred day moving average of $36.33. Essential Utilities, Inc. has a one year low of $32.07 and a one year high of $46.37.

Essential Utilities Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 9th will be paid a $0.307 dividend. This represents a $1.23 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Thursday, February 8th. Essential Utilities’s payout ratio is 68.33%.

Wall Street Analyst Weigh In

WTRG has been the subject of several recent analyst reports. StockNews.com lowered shares of Essential Utilities from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. Edward Jones raised shares of Essential Utilities from a “hold” rating to a “buy” rating in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.25.

View Our Latest Research Report on Essential Utilities

Essential Utilities Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Essential Utilities (NYSE:WTRG)

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