Intech Investment Management LLC decreased its holdings in Essential Utilities Inc. (NYSE:WTRG – Free Report) by 69.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,224 shares of the company’s stock after selling 32,110 shares during the quarter. Intech Investment Management LLC’s holdings in Essential Utilities were worth $546,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in shares of Essential Utilities by 587.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,071,929 shares of the company’s stock valued at $162,472,000 after purchasing an additional 3,479,762 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Essential Utilities during the 3rd quarter worth approximately $128,137,000. Balyasny Asset Management L.P. boosted its holdings in shares of Essential Utilities by 1,572.4% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,271,201 shares of the company’s stock worth $47,212,000 after purchasing an additional 1,195,189 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Essential Utilities by 121.8% in the third quarter. AQR Capital Management LLC now owns 1,591,706 shares of the company’s stock valued at $62,697,000 after acquiring an additional 873,990 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Essential Utilities by 2.8% in the third quarter. Vanguard Group Inc. now owns 31,246,084 shares of the company’s stock valued at $1,246,719,000 after acquiring an additional 838,450 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.
Essential Utilities Price Performance
Shares of WTRG opened at $37.50 on Wednesday. Essential Utilities Inc. has a fifty-two week low of $36.10 and a fifty-two week high of $42.37. The company has a market capitalization of $10.64 billion, a price-to-earnings ratio of 19.03 and a beta of 0.66. The firm has a 50-day simple moving average of $38.50 and a 200-day simple moving average of $38.88. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.84 and a current ratio of 0.95.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on WTRG. Weiss Ratings reissued a “hold (c+)” rating on shares of Essential Utilities in a research report on Friday, May 22nd. UBS Group raised Essential Utilities from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $41.00 to $43.00 in a research report on Friday, May 29th. Finally, Argus upgraded shares of Essential Utilities to a “strong-buy” rating in a research note on Monday, March 23rd. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.80.
View Our Latest Stock Analysis on WTRG
Essential Utilities Profile
Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.
The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.
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