First Allied Advisory Services Inc. bought a new position in Essential Utilities Inc (NASDAQ:WTRG) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,257 shares of the company’s stock, valued at approximately $784,000.
A number of other institutional investors also recently made changes to their positions in the business. Natixis Advisors L.P. bought a new stake in Essential Utilities during the first quarter valued at about $508,000. Louisiana State Employees Retirement System bought a new position in shares of Essential Utilities in the first quarter worth about $2,125,000. State of Michigan Retirement System acquired a new position in shares of Essential Utilities during the 1st quarter worth about $60,000. DNB Asset Management AS bought a new stake in Essential Utilities during the 1st quarter valued at approximately $1,705,000. Finally, James Investment Research Inc. acquired a new stake in Essential Utilities in the 1st quarter valued at approximately $56,000.
Shares of WTRG stock opened at $41.03 on Friday. Essential Utilities Inc has a one year low of $30.40 and a one year high of $54.52. The business has a fifty day moving average price of $41.53.
Essential Utilities (NASDAQ:WTRG) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $225.60 million during the quarter, compared to analyst estimates of $228.19 million. The business’s revenue for the quarter was up 12.2% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be paid a dividend of $0.2343 per share. This represents a $0.94 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Thursday, May 14th.
Several equities research analysts have recently weighed in on the company. Wells Fargo & Co increased their price objective on Essential Utilities from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 11th. Robert W. Baird increased their price target on shares of Essential Utilities from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Royal Bank of Canada restated a “buy” rating and set a $49.00 price objective on shares of Essential Utilities in a report on Wednesday, May 13th. Goldman Sachs Group began coverage on shares of Essential Utilities in a research report on Wednesday, April 15th. They set a “neutral” rating and a $45.00 price objective for the company. Finally, Seaport Global Securities started coverage on Essential Utilities in a research report on Wednesday. They set a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Essential Utilities presently has a consensus rating of “Hold” and an average price target of $48.00.
Essential Utilities Profile
Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water services through operating and maintenance contracts with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through third-party.
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