Nuance Investments LLC acquired a new position in shares of Essential Utilities Inc. (NYSE:WTRG – Free 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.
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
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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