Essential Utilities Inc. $WTRG Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC decreased its holdings in shares of Essential Utilities Inc. (NYSE:WTRG) by 20.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,547 shares of the company’s stock after selling 13,130 shares during the quarter. Private Advisor Group LLC’s holdings in Essential Utilities were worth $2,116,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. bought a new position in shares of Essential Utilities during the fourth quarter worth about $3,547,000. A. D. Beadell Investment Counsel Inc. bought a new stake in Essential Utilities in the 4th quarter valued at about $1,432,000. Perigon Wealth Management LLC bought a new stake in Essential Utilities in the 4th quarter valued at about $958,000. Brighton Jones LLC acquired a new position in Essential Utilities during the 4th quarter valued at about $638,000. Finally, AdvisorNet Financial Inc boosted its stake in Essential Utilities by 130.1% during the 4th quarter. AdvisorNet Financial Inc now owns 232,963 shares of the company’s stock valued at $8,936,000 after purchasing an additional 131,712 shares during the period. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WTRG shares. Wall Street Zen raised Essential Utilities to a “sell” rating in a report on Saturday, July 4th. UBS Group increased their price objective on Essential Utilities from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Argus upgraded Essential Utilities to a “strong-buy” rating in a research report on Monday, March 23rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Essential Utilities in a research note on Friday, May 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.40.

Essential Utilities Stock Up 0.2%

Essential Utilities stock opened at $38.60 on Friday. Essential Utilities Inc. has a twelve month low of $36.10 and a twelve month high of $42.37. The company has a 50 day moving average of $37.58 and a 200-day moving average of $38.77. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 1.21. The stock has a market capitalization of $10.95 billion, a PE ratio of 19.59 and a beta of 0.65.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.07). Essential Utilities had a net margin of 21.82% and a return on equity of 8.34%. The business had revenue of $861.76 million during the quarter, compared to the consensus estimate of $782.90 million. During the same quarter last year, the business earned $1.03 EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts anticipate that Essential Utilities Inc. will post 2.21 EPS for the current fiscal year.

Essential Utilities Company 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.