Folger Nolan Fleming Douglas Capital Management Inc. Has $6.98 Million Stock Holdings in Essential Utilities, Inc. (NYSE:WTRG)

Folger Nolan Fleming Douglas Capital Management Inc. boosted its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 186,922 shares of the company’s stock after purchasing an additional 5,918 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Essential Utilities were worth $6,982,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its position in shares of Essential Utilities by 604.0% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock worth $27,000 after purchasing an additional 610 shares in the last quarter. Lindbrook Capital LLC raised its stake in Essential Utilities by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after buying an additional 325 shares during the period. Valley National Advisers Inc. lifted its holdings in Essential Utilities by 4,210.0% during the fourth quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after acquiring an additional 842 shares in the last quarter. Resources Management Corp CT ADV grew its stake in Essential Utilities by 250.0% in the third quarter. Resources Management Corp CT ADV now owns 1,050 shares of the company’s stock valued at $36,000 after acquiring an additional 750 shares during the period. Finally, Orion Capital Management LLC acquired a new position in Essential Utilities in the third quarter valued at about $39,000. Institutional investors own 74.78% of the company’s stock.

Insider Activity at Essential Utilities

In related news, CAO Robert A. Rubin sold 5,565 shares of Essential Utilities stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $37.21, for a total value of $207,073.65. Following the sale, the chief accounting officer now owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Evercore ISI dropped their price target on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.00.

Essential Utilities Stock Down 1.3 %

Shares of NYSE WTRG traded down $0.48 during mid-day trading on Friday, reaching $36.09. 1,273,344 shares of the company’s stock were exchanged, compared to its average volume of 1,636,954. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 3.18 and a beta of 0.82. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The business has a fifty day simple moving average of $35.74 and a 200 day simple moving average of $35.74. Essential Utilities, Inc. has a twelve month low of $32.07 and a twelve month high of $43.74.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Friday, February 23rd. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $479.40 million for the quarter, compared to analyst estimates of $708.50 million. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. Essential Utilities’s revenue was down 32.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. As a group, equities analysts expect that Essential Utilities, Inc. will post 2 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a $0.3071 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Thursday, May 9th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s dividend payout ratio (DPR) is currently 66.13%.

About Essential Utilities

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. The company operates through Regulated Water and Regulated Natural Gas segments. It offers water services through operating and maintenance contract with municipal authorities and other parties.