NFJ Investment Group LLC Sells 52,415 Shares of Essential Utilities, Inc. (NYSE:WTRG)

NFJ Investment Group LLC reduced its holdings in shares of Essential Utilities, Inc. (NYSE:WTRG) by 20.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 201,898 shares of the company’s stock after selling 52,415 shares during the quarter. NFJ Investment Group LLC’s holdings in Essential Utilities were worth $7,787,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Boston Trust Walden Corp lifted its holdings in Essential Utilities by 350.3% during the 2nd quarter. Boston Trust Walden Corp now owns 903,372 shares of the company’s stock valued at $33,723,000 after purchasing an additional 702,760 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Essential Utilities by 1.6% in the third quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock valued at $2,001,000 after purchasing an additional 803 shares during the period. ProShare Advisors LLC lifted its stake in shares of Essential Utilities by 2.5% during the 2nd quarter. ProShare Advisors LLC now owns 881,658 shares of the company’s stock worth $32,912,000 after buying an additional 21,804 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Essential Utilities by 18.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,500,150 shares of the company’s stock worth $56,002,000 after buying an additional 234,857 shares during the period. Finally, M&G Plc acquired a new position in Essential Utilities in the 2nd quarter valued at about $482,000. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Stock Down 1.3 %

Shares of NYSE WTRG opened at $39.67 on Wednesday. The stock has a market capitalization of $10.89 billion, a P/E ratio of 19.84, a PEG ratio of 3.18 and a beta of 0.85. The stock’s fifty day moving average is $39.25 and its 200 day moving average is $38.89. Essential Utilities, Inc. has a 52 week low of $33.57 and a 52 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.

Essential Utilities (NYSE:WTRG) last released its earnings results on Monday, November 4th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $435.30 million for the quarter, compared to analyst estimates of $416.95 million. During the same period last year, the firm earned $0.30 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts forecast that Essential Utilities, Inc. will post 2.01 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.28%. The ex-dividend date was Tuesday, November 12th. Essential Utilities’s payout ratio is presently 65.00%.

Analyst Ratings Changes

Several equities research analysts have issued reports on WTRG shares. Bank of America restated a “buy” rating and set a $45.00 price objective on shares of Essential Utilities in a research report on Friday, September 20th. Robert W. Baird lifted their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Evercore ISI upped their price objective on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Wells Fargo & Company dropped their target price on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Jefferies Financial Group downgraded shares of Essential Utilities from a “buy” rating to a “hold” rating and decreased their price target for the company from $44.00 to $41.00 in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Essential Utilities Company Profile

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.