Squarepoint Ops LLC Has $31.03 Million Holdings in Essential Utilities Inc. $WTRG

Squarepoint Ops LLC increased its position in Essential Utilities Inc. (NYSE:WTRG) by 17.1% in the second quarter, HoldingsChannel reports. The firm owned 810,036 shares of the company’s stock after acquiring an additional 118,543 shares during the period. Squarepoint Ops LLC’s holdings in Essential Utilities were worth $31,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WTRG. Fideuram Asset Management Ireland dac purchased a new stake in Essential Utilities in the 4th quarter worth about $27,000. Evolution Wealth Management Inc. purchased a new position in Essential Utilities during the 1st quarter valued at about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Essential Utilities in the 4th quarter valued at about $32,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Essential Utilities in the 2nd quarter valued at about $33,000. Finally, Motiv8 Investments LLC acquired a new stake in shares of Essential Utilities during the fourth quarter worth approximately $35,000. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

Essential Utilities Stock Up 0.5%

Essential Utilities stock opened at $41.92 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.78 and a quick ratio of 0.62. Essential Utilities Inc. has a fifty-two week low of $36.10 and a fifty-two week high of $42.37. The firm has a fifty day moving average price of $39.98 and a two-hundred day moving average price of $39.23. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 3.14 and a beta of 0.64.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. The business had revenue of $530.85 million for the quarter, compared to the consensus estimate of $538.90 million. Essential Utilities had a net margin of 21.60% and a return on equity of 8.23%. Essential Utilities’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. As a group, analysts forecast that Essential Utilities Inc. will post 2.21 earnings per share for the current year.

Essential Utilities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were paid a dividend of $0.3606 per share. This is an increase from Essential Utilities’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Tuesday, August 11th. Essential Utilities’s dividend payout ratio is presently 73.47%.

Insider Transactions at Essential Utilities

In other Essential Utilities news, insider Colleen Arnold sold 2,855 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $39.55, for a total value of $112,915.25. Following the sale, the insider owned 17,347 shares of the company’s stock, valued at $686,073.85. The trade was a 14.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WTRG. Barclays boosted their price target on shares of Essential Utilities from $38.00 to $40.00 and gave the company an “underweight” rating in a report on Wednesday, July 15th. Weiss Ratings raised Essential Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, September 2nd. Wall Street Zen upgraded Essential Utilities to a “sell” rating in a research note on Saturday, July 4th. Finally, UBS Group raised their price target on Essential Utilities from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

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.