Thrivent Financial for Lutherans Lowers Stock Position in Essential Utilities, Inc. (NYSE:WTRG)

Thrivent Financial for Lutherans trimmed its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,282 shares of the company’s stock after selling 2,396 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Essential Utilities were worth $2,288,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WTRG. US Bancorp DE increased its position in Essential Utilities by 11.1% in the 4th quarter. US Bancorp DE now owns 21,113 shares of the company’s stock valued at $789,000 after acquiring an additional 2,107 shares during the period. Hsbc Holdings PLC grew its stake in shares of Essential Utilities by 654.7% in the 4th quarter. Hsbc Holdings PLC now owns 163,342 shares of the company’s stock valued at $6,104,000 after purchasing an additional 141,699 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Essential Utilities by 30.0% in the fourth quarter. Parallel Advisors LLC now owns 2,410 shares of the company’s stock valued at $90,000 after purchasing an additional 556 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Essential Utilities by 261.5% during the fourth quarter. Allianz Asset Management GmbH now owns 274,213 shares of the company’s stock worth $10,242,000 after purchasing an additional 198,350 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Essential Utilities by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 107,688 shares of the company’s stock worth $4,022,000 after purchasing an additional 1,050 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

WTRG stock opened at $38.31 on Wednesday. The firm has a 50 day moving average of $39.35 and a 200-day moving average of $38.06. The company has a market cap of $10.48 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 3.37 and a beta of 0.85. The company has a current ratio of 0.58, a quick ratio of 0.44 and a debt-to-equity ratio of 1.14. Essential Utilities, Inc. has a 12-month low of $32.07 and a 12-month high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $434.40 million for the quarter, compared to analyst estimates of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, equities analysts expect that Essential Utilities, Inc. will post 1.95 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 12th were given a $0.3255 dividend. The ex-dividend date was Monday, August 12th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 annualized dividend and a dividend yield of 3.40%. Essential Utilities’s payout ratio is currently 61.61%.

Analysts Set New Price Targets

Several analysts have recently commented on WTRG shares. Bank of America restated a “buy” rating and issued a $45.00 target price on shares of Essential Utilities in a research note on Friday, September 20th. Evercore ISI raised 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. Wells Fargo & Company boosted their target price on Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Robert W. Baird increased their target price on Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

Essential Utilities Company 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.