Folger Nolan Fleming Douglas Capital Management Inc. Boosts Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Folger Nolan Fleming Douglas Capital Management Inc. raised its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,922 shares of the company’s stock after buying an additional 5,918 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc. owned approximately 0.07% of Essential Utilities worth $6,982,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WTRG. Massmutual Trust Co. FSB ADV grew its holdings in shares of Essential Utilities by 604.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock worth $27,000 after purchasing an additional 610 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Essential Utilities by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after purchasing an additional 325 shares during the period. Valley National Advisers Inc. grew its holdings in shares of Essential Utilities by 4,210.0% during the 4th quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after purchasing an additional 842 shares during the period. Resources Management Corp CT ADV grew its holdings in shares of Essential Utilities by 250.0% during the 3rd quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company’s stock worth $36,000 after purchasing an additional 750 shares during the period. Finally, Orion Capital Management LLC purchased a new stake in shares of Essential Utilities during the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Down 1.3 %

Essential Utilities stock traded down $0.48 during midday trading on Friday, hitting $36.09. 1,273,344 shares of the company were exchanged, compared to its average volume of 1,636,954. The company’s fifty day moving average price is $35.74 and its 200-day moving average price is $35.74. The company has a market cap of $9.87 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 3.18 and a beta of 0.82. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.62 and a quick ratio of 0.48. Essential Utilities, Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $43.74.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Friday, February 23rd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. The firm had revenue of $479.40 million for the quarter, compared to analyst estimates of $708.50 million. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. Essential Utilities’s revenue for the quarter was down 32.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. On average, research analysts predict that Essential Utilities, Inc. will post 2 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be given a $0.3071 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 3.40%. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 9th. Essential Utilities’s dividend payout ratio is presently 66.13%.

Analysts Set New Price Targets

Separately, Evercore ISI decreased their target price on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 4th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.00.

Insider Buying and Selling at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 5,565 shares of the company’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 value of $207,073.65. Following the transaction, the chief accounting officer now directly owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

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.