Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lowered its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 28.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 119,246 shares of the company’s stock after selling 47,108 shares during the quarter. Hsbc Holdings PLC’s holdings in Essential Utilities were worth $4,322,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in WTRG. VSM Wealth Advisory LLC acquired a new stake in shares of Essential Utilities during the fourth quarter worth about $26,000. IFP Advisors Inc raised its position in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after buying an additional 473 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Essential Utilities during the 4th quarter valued at approximately $45,000. Bessemer Group Inc. boosted its holdings in shares of Essential Utilities by 98.9% in the 4th quarter. Bessemer Group Inc. now owns 1,565 shares of the company’s stock valued at $56,000 after acquiring an additional 778 shares during the last quarter. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Essential Utilities in the fourth quarter worth $60,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Up 1.3 %

Shares of WTRG stock opened at $40.81 on Wednesday. The stock has a 50 day simple moving average of $39.11 and a 200-day simple moving average of $37.99. Essential Utilities, Inc. has a 1-year low of $33.18 and a 1-year high of $41.78. The company has a market cap of $11.24 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 2.57 and a beta of 0.80. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. On average, equities research analysts expect that Essential Utilities, Inc. will post 1.99 EPS for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.19%. Essential Utilities’s payout ratio is currently 59.91%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. StockNews.com raised shares of Essential Utilities from a “sell” rating to a “hold” rating in a report on Sunday, April 20th. UBS Group lowered their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Tuesday, January 28th. Wells Fargo & Company upped their price objective on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Finally, Evercore ISI lifted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Essential Utilities has an average rating of “Moderate Buy” and an average target price of $43.50.

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.