Capitolis Liquid Global Markets LLC acquired a new position in shares of Essential Utilities Inc. (NYSE:WTRG – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 552,000 shares of the company’s stock, valued at approximately $21,175,000.
Several other large investors also recently added to or reduced their stakes in WTRG. Brighton Jones LLC bought a new stake in Essential Utilities during the fourth quarter worth approximately $638,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Essential Utilities by 7.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,861 shares of the company’s stock worth $508,000 after acquiring an additional 928 shares during the last quarter. NewEdge Advisors LLC increased its stake in Essential Utilities by 1.8% during the first quarter. NewEdge Advisors LLC now owns 29,674 shares of the company’s stock worth $1,173,000 after acquiring an additional 530 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Essential Utilities by 122.7% during the first quarter. Goldman Sachs Group Inc. now owns 943,797 shares of the company’s stock worth $37,308,000 after acquiring an additional 519,933 shares during the last quarter. Finally, Focus Partners Wealth increased its stake in Essential Utilities by 4.9% during the first quarter. Focus Partners Wealth now owns 22,322 shares of the company’s stock worth $882,000 after acquiring an additional 1,044 shares during the last quarter. 74.78% of the stock is owned by institutional investors.
Essential Utilities Stock Down 2.7%
Shares of NYSE WTRG opened at $36.90 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.84 and a current ratio of 0.95. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 18.73 and a beta of 0.66. The stock has a 50 day moving average price of $38.09 and a 200 day moving average price of $38.79. Essential Utilities Inc. has a 52-week low of $36.10 and a 52-week high of $42.37.
Wall Street Analysts Forecast Growth
WTRG has been the topic of several analyst reports. UBS Group raised Essential Utilities from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $41.00 to $43.00 in a research note on Friday, May 29th. Argus upgraded Essential Utilities to a “strong-buy” rating in a research report on Monday, March 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Essential Utilities in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.80.
Read Our Latest Analysis on WTRG
About Essential Utilities
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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