126,035 Shares in Essential Utilities Inc. $WTRG Bought by Nuance Investments LLC

Nuance Investments LLC acquired a new position in shares of Essential Utilities Inc. (NYSE:WTRGFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 126,035 shares of the company’s stock, valued at approximately $4,835,000.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Essential Utilities in the 4th quarter worth approximately $154,176,000. JPMorgan Chase & Co. increased its position in shares of Essential Utilities by 587.6% in the third quarter. JPMorgan Chase & Co. now owns 4,071,929 shares of the company’s stock worth $162,472,000 after acquiring an additional 3,479,762 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in shares of Essential Utilities in the third quarter worth approximately $128,137,000. Balyasny Asset Management L.P. increased its position in shares of Essential Utilities by 1,572.4% in the second quarter. Balyasny Asset Management L.P. now owns 1,271,201 shares of the company’s stock worth $47,212,000 after acquiring an additional 1,195,189 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Essential Utilities by 121.8% in the third quarter. AQR Capital Management LLC now owns 1,591,706 shares of the company’s stock worth $62,697,000 after acquiring an additional 873,990 shares in the last quarter. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

Shares of WTRG stock opened at $37.40 on Friday. The firm has a market cap of $10.61 billion, a P/E ratio of 18.99 and a beta of 0.66. Essential Utilities Inc. has a fifty-two week low of $36.10 and a fifty-two week high of $42.37. The business’s 50 day moving average price is $38.64 and its 200-day moving average price is $38.91. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.84 and a current ratio of 0.95.

Essential Utilities (NYSE:WTRGGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.07). Essential Utilities had a net margin of 21.82% and a return on equity of 8.34%. The firm had revenue of $861.76 million for the quarter, compared to the consensus estimate of $782.90 million. During the same quarter in the prior year, the firm earned $1.03 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities research analysts anticipate that Essential Utilities Inc. will post 2.22 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Argus upgraded shares of Essential Utilities to a “strong-buy” rating in a report on Monday, March 23rd. UBS Group upgraded shares of Essential Utilities from a “neutral” rating to a “buy” rating and raised their price target for the stock from $41.00 to $43.00 in a report on Friday, May 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Essential Utilities in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.80.

View Our Latest Analysis on WTRG

Essential Utilities Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Essential Utilities (NYSE:WTRG)

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