Trillium Asset Management LLC Has $2.25 Million Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Trillium Asset Management LLC raised its position in Essential Utilities, Inc. (NYSE:WTRG) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,265 shares of the company’s stock after acquiring an additional 3,472 shares during the period. Trillium Asset Management LLC’s holdings in Essential Utilities were worth $2,251,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Bare Financial Services Inc bought a new stake in shares of Essential Utilities during the fourth quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV boosted its stake in Essential Utilities by 604.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock worth $27,000 after buying an additional 610 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Essential Utilities by 78.9% in the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock valued at $28,000 after buying an additional 325 shares during the period. Valley National Advisers Inc. raised its stake in shares of Essential Utilities by 4,210.0% in the 4th quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock valued at $32,000 after buying an additional 842 shares in the last quarter. Finally, VisionPoint Advisory Group LLC lifted its holdings in shares of Essential Utilities by 52.9% during the 4th quarter. VisionPoint Advisory Group LLC now owns 977 shares of the company’s stock worth $36,000 after acquiring an additional 338 shares during the period. Institutional investors own 74.78% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Evercore ISI lowered their target price on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. Robert W. Baird lowered their price objective on Essential Utilities from $44.00 to $43.00 and set an “outperform” rating on the stock in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, Essential Utilities has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Insiders Place Their Bets

In related news, CAO Robert A. Rubin sold 2,023 shares of Essential Utilities stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total value of $73,960.88. Following the completion of the transaction, the chief accounting officer now directly owns 13,358 shares of the company’s stock, valued at $488,368.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Robert A. Rubin sold 2,023 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total transaction of $73,960.88. Following the sale, the chief accounting officer now directly owns 13,358 shares of the company’s stock, valued at $488,368.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert A. Rubin sold 5,565 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.21, for a total transaction of $207,073.65. Following the completion of the transaction, the chief accounting officer now owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Essential Utilities Price Performance

WTRG stock traded up $0.26 during trading on Friday, hitting $39.67. 1,046,481 shares of the stock traded hands, compared to its average volume of 1,645,155. The stock has a market cap of $10.85 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 3.50 and a beta of 0.80. Essential Utilities, Inc. has a one year low of $32.07 and a one year high of $43.26. The company has a current ratio of 0.62, a quick ratio of 0.52 and a debt-to-equity ratio of 1.13. The company has a 50 day simple moving average of $36.69 and a 200 day simple moving average of $36.28.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Friday, February 23rd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. The company had revenue of $479.40 million during the quarter, compared to analyst estimates of $708.50 million. Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. The company’s revenue was down 32.0% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. Equities analysts expect that Essential Utilities, Inc. will post 1.97 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a $0.3071 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.23 dividend on an annualized basis and a yield of 3.10%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s payout ratio is currently 58.29%.

Essential Utilities Profile

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.