GAMMA Investing LLC Invests $116,000 in Essential Utilities, Inc. (NYSE:WTRG)

GAMMA Investing LLC acquired a new position in Essential Utilities, Inc. (NYSE:WTRG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,230 shares of the company’s stock, valued at approximately $116,000.

Other large investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Essential Utilities by 604.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock worth $27,000 after acquiring an additional 610 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Essential Utilities by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after buying an additional 325 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in Essential Utilities by 4,210.0% during the 4th quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after buying an additional 842 shares in the last quarter. Resources Management Corp CT ADV lifted its holdings in Essential Utilities by 250.0% during the 3rd quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company’s stock worth $36,000 after buying an additional 750 shares in the last quarter. Finally, Orion Capital Management LLC acquired a new stake in Essential Utilities during the 3rd quarter worth approximately $39,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Evercore ISI reduced their target price on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, Essential Utilities currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Insider Activity at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 5,565 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $37.21, for a total transaction of $207,073.65. Following the completion of the transaction, the chief accounting officer now directly owns 57,756 shares in the company, valued at approximately $2,149,100.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

Essential Utilities Trading Down 1.3 %

Shares of NYSE:WTRG opened at $36.09 on Monday. Essential Utilities, Inc. has a 52 week low of $32.07 and a 52 week high of $43.74. The company’s 50 day moving average is $35.74 and its two-hundred day moving average is $35.76. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The company has a market cap of $9.87 billion, a PE ratio of 19.40, a P/E/G ratio of 3.15 and a beta of 0.82.

Essential Utilities (NYSE:WTRG) last released its earnings results on Friday, February 23rd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. Essential Utilities had a net margin of 24.26% and a return on equity of 8.68%. The company had revenue of $479.40 million during the quarter, compared to analysts’ expectations of $708.50 million. During the same quarter last year, the business earned $0.44 EPS. The business’s revenue was down 32.0% on a year-over-year basis. Equities analysts predict that Essential Utilities, Inc. will post 2 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a $0.3071 dividend. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 9th. This represents a $1.23 annualized dividend and a dividend yield of 3.40%. Essential Utilities’s dividend payout ratio (DPR) is 66.13%.

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.