UBS Group AG Reduces Position in Essential Utilities Inc. $WTRG

UBS Group AG lessened its holdings in shares of Essential Utilities Inc. (NYSE:WTRG) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,105,002 shares of the company’s stock after selling 237,477 shares during the period. UBS Group AG’s holdings in Essential Utilities were worth $42,388,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WTRG. GoalVest Advisory LLC acquired a new position in shares of Essential Utilities during the 4th quarter worth approximately $25,000. Atlantic Union Bankshares Corp increased its holdings in shares of Essential Utilities by 1,163.8% in the third quarter. Atlantic Union Bankshares Corp now owns 733 shares of the company’s stock valued at $29,000 after purchasing an additional 675 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in Essential Utilities by 31,466.7% during the fourth quarter. Rosenberg Matthew Hamilton now owns 947 shares of the company’s stock worth $36,000 after buying an additional 944 shares in the last quarter. Bessemer Group Inc. lifted its position in Essential Utilities by 43.6% during the third quarter. Bessemer Group Inc. now owns 1,114 shares of the company’s stock worth $45,000 after buying an additional 338 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in Essential Utilities during the third quarter worth $50,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Price Performance

Shares of WTRG stock opened at $37.57 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.80 and a quick ratio of 0.65. The company has a market capitalization of $10.64 billion, a PE ratio of 17.00 and a beta of 0.67. The firm’s 50-day moving average is $39.98 and its two-hundred day moving average is $39.33. Essential Utilities Inc. has a 12 month low of $36.32 and a 12 month high of $42.37.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.07). The firm had revenue of $861.76 million during the quarter, compared to analysts’ expectations of $782.90 million. Essential Utilities had a net margin of 24.91% and a return on equity of 9.18%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the company earned $1.03 EPS. Analysts predict that Essential Utilities Inc. will post 2.25 earnings per share for the current year.

Essential Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be given a $0.3426 dividend. This represents a $1.37 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, May 12th. Essential Utilities’s dividend payout ratio is presently 61.99%.

Analysts Set New Price Targets

Separately, Argus upgraded Essential Utilities to a “strong-buy” rating in a report on Monday, March 23rd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.20.

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.