3,211,203 Shares in Essential Utilities Inc. $WTRG Bought by ANTIPODES PARTNERS Ltd

ANTIPODES PARTNERS Ltd acquired a new position in Essential Utilities Inc. (NYSE:WTRG) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 3,211,203 shares of the company’s stock, valued at approximately $128,137,000. Essential Utilities accounts for about 2.9% of ANTIPODES PARTNERS Ltd’s portfolio, making the stock its 13th largest holding.

Several other large investors have also recently made changes to their positions in WTRG. Asahi Life Asset Management CO. LTD. purchased a new position in Essential Utilities in the third quarter valued at about $391,000. Raiffeisen Bank International AG raised its holdings in shares of Essential Utilities by 46.0% in the 3rd quarter. Raiffeisen Bank International AG now owns 43,145 shares of the company’s stock worth $1,688,000 after purchasing an additional 13,598 shares during the period. Syon Capital LLC purchased a new position in Essential Utilities in the third quarter valued at approximately $255,000. Heartland Advisors Inc. bought a new position in Essential Utilities during the third quarter valued at $14,670,000. Finally, Wealthcare Advisory Partners LLC grew its holdings in Essential Utilities by 1.4% during the third quarter. Wealthcare Advisory Partners LLC now owns 26,080 shares of the company’s stock valued at $1,041,000 after purchasing an additional 356 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Stock Down 1.1%

Shares of Essential Utilities stock opened at $38.65 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.13. Essential Utilities Inc. has a twelve month low of $35.96 and a twelve month high of $42.37. The company has a fifty day moving average price of $38.66 and a 200 day moving average price of $38.96. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 16.04 and a beta of 0.81.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be given a $0.3426 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $1.37 annualized dividend and a yield of 3.5%. Essential Utilities’s dividend payout ratio is 56.85%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WTRG. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and reduced their price objective for the company from $47.00 to $44.00 in a research note on Tuesday, October 28th. Janney Montgomery Scott lowered Essential Utilities from a “buy” rating to a “neutral” rating in a report on Monday, October 27th. Northcoast Research upgraded Essential Utilities from a “neutral” rating to a “buy” rating and set a $42.00 price objective on the stock in a research note on Wednesday, December 3rd. UBS Group reissued a “neutral” rating and set a $45.00 price objective (down previously from $46.00) on shares of Essential Utilities in a report on Tuesday, October 28th. Finally, Barclays set a $38.00 target price on Essential Utilities and gave the stock an “underweight” rating in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $43.29.

Essential Utilities Profile

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.