Cetera Trust Company N.A Grows Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

by · The Cerbat Gem

Cetera Trust Company N.A lifted its position in Essential Utilities, Inc. (NYSE:WTRG – Free Report) by 12.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,465 shares of the company’s stock after purchasing an additional 500 shares during the quarter. Cetera Trust Company N.A’s holdings in Essential Utilities were worth $172,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Friedenthal Financial bought a new position in shares of Essential Utilities during the third quarter valued at about $25,000. Tradewinds Capital Management LLC boosted its position in Essential Utilities by 857.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock valued at $26,000 after buying an additional 626 shares during the period. Voisard Asset Management Group Inc. bought a new position in Essential Utilities in the 2nd quarter worth $37,000. Webster Bank N. A. bought a new position in shares of Essential Utilities in the 1st quarter worth approximately $41,000. Finally, Riverview Trust Co purchased a new stake in Essential Utilities in the first quarter worth $43,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Essential Utilities in a research note on Monday, October 7th. They set a “buy” rating and a $44.00 price objective on the stock. Bank of America reaffirmed a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a research report on Friday, September 20th. Evercore ISI increased their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Robert W. Baird increased their target price on Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company raised their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.80.

Check Out Our Latest Research Report on Essential Utilities

Essential Utilities Price Performance

Essential Utilities stock traded down $0.01 during midday trading on Tuesday, reaching $40.37. 167,700 shares of the stock traded hands, compared to its average volume of 1,526,726. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.14. Essential Utilities, Inc. has a 12 month low of $32.42 and a 12 month high of $41.78. The stock’s fifty day moving average is $39.05 and its 200-day moving average is $38.35. The stock has a market cap of $11.04 billion, a P/E ratio of 19.14, a PEG ratio of 3.46 and a beta of 0.84.

Essential Utilities (NYSE:WTRG – Get Free Report) last posted its earnings results on Monday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The business had revenue of $434.40 million during the quarter, compared to analysts’ expectations of $442.76 million. Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the business posted $0.34 earnings per share. As a group, equities research analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current year.

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a dividend of $0.3255 per share. The ex-dividend date was Monday, August 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.23%. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s payout ratio is currently 61.61%.

Essential Utilities Company Profile

(Free Report)

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.

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