SG Americas Securities LLC trimmed its stake in Essential Utilities Inc. (NYSE:WTRG – Free Report) by 49.3% in the first quarter, HoldingsChannel.com reports. The fund owned 26,903 shares of the company’s stock after selling 26,134 shares during the quarter. SG Americas Securities LLC’s holdings in Essential Utilities were worth $1,083,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. GoalVest Advisory LLC acquired a new stake in shares of Essential Utilities during the fourth quarter valued at $25,000. Fideuram Asset Management Ireland dac acquired a new position in Essential Utilities in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd acquired a new position in Essential Utilities in the 4th quarter valued at about $32,000. Motiv8 Investments LLC acquired a new position in Essential Utilities in the 4th quarter valued at about $35,000. Finally, Rosenberg Matthew Hamilton lifted its holdings in Essential Utilities by 31,466.7% in the 4th quarter. Rosenberg Matthew Hamilton now owns 947 shares of the company’s stock valued at $36,000 after purchasing an additional 944 shares in the last quarter. 74.78% of the stock is currently owned by hedge funds and other institutional investors.
Essential Utilities Trading Down 0.1%
WTRG stock opened at $39.33 on Friday. The business has a fifty day simple moving average of $37.68 and a 200-day simple moving average of $38.76. The company has a market cap of $11.15 billion, a price-to-earnings ratio of 19.96 and a beta of 0.65. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 1.21. Essential Utilities Inc. has a 52 week low of $36.10 and a 52 week high of $42.37.
Wall Street Analyst Weigh In
Several research firms have issued reports on WTRG. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Essential Utilities in a research note on Friday, May 22nd. Argus raised shares of Essential Utilities to a “strong-buy” rating in a research report on Monday, March 23rd. UBS Group upped their price objective on shares of Essential Utilities from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Essential Utilities to a “sell” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.40.
Read Our Latest Report 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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