Cbre Clarion Securities LLC Purchases 22,664 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Cbre Clarion Securities LLC lifted its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 5.1% in the first quarter, HoldingsChannel reports. The fund owned 470,385 shares of the company’s stock after buying an additional 22,664 shares during the period. Cbre Clarion Securities LLC’s holdings in Essential Utilities were worth $21,050,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. RMR Wealth Builders bought a new stake in shares of Essential Utilities during the fourth quarter worth $26,000. Creative Financial Designs Inc. ADV raised its position in shares of Essential Utilities by 74.2% during the first quarter. Creative Financial Designs Inc. ADV now owns 554 shares of the company’s stock worth $25,000 after acquiring an additional 236 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new stake in shares of Essential Utilities during the first quarter worth $25,000. SOA Wealth Advisors LLC. bought a new stake in shares of Essential Utilities during the fourth quarter worth $31,000. Finally, Jones Financial Companies Lllp bought a new stake in shares of Essential Utilities during the first quarter worth $31,000. Institutional investors own 71.60% of the company’s stock.

Shares of Essential Utilities stock traded up $0.30 during trading on Friday, reaching $48.31. 6,883 shares of the company were exchanged, compared to its average volume of 1,000,015. The company has a quick ratio of 0.62, a current ratio of 0.69 and a debt-to-equity ratio of 1.15. Essential Utilities, Inc. has a twelve month low of $38.28 and a twelve month high of $48.89. The business’s 50-day simple moving average is $46.84. The stock has a market cap of $11.87 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 4.58 and a beta of 0.54.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Wednesday, May 5th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.06. Essential Utilities had a return on equity of 9.23% and a net margin of 23.27%. The business had revenue of $583.57 million during the quarter, compared to analysts’ expectations of $700.00 million. On average, analysts expect that Essential Utilities, Inc. will post 1.67 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were paid a $0.251 dividend. The ex-dividend date was Thursday, May 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. Essential Utilities’s payout ratio is 63.29%.

Separately, Barclays lifted their price objective on Essential Utilities from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 25th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $49.67.

Essential Utilities Company Profile

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas 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 a third-party.

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

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