ProShare Advisors LLC Reduces Holdings in Essential Utilities Inc. $WTRG

ProShare Advisors LLC lowered its position in shares of Essential Utilities Inc. (NYSE:WTRG) by 14.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 829,432 shares of the company’s stock after selling 137,253 shares during the period. ProShare Advisors LLC’s holdings in Essential Utilities were worth $31,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. increased its stake in Essential Utilities by 2.3% during the third quarter. First Citizens Bank & Trust Co. now owns 13,036 shares of the company’s stock worth $520,000 after acquiring an additional 287 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in shares of Essential Utilities by 1.7% in the 3rd quarter. Belpointe Asset Management LLC now owns 17,275 shares of the company’s stock valued at $689,000 after purchasing an additional 291 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Essential Utilities by 43.6% during the 3rd quarter. Bessemer Group Inc. now owns 1,114 shares of the company’s stock worth $45,000 after purchasing an additional 338 shares during the period. AGP Franklin LLC grew its holdings in shares of Essential Utilities by 0.9% during the 3rd quarter. AGP Franklin LLC now owns 38,857 shares of the company’s stock worth $1,550,000 after purchasing an additional 347 shares during the period. Finally, Wealthcare Advisory Partners LLC increased its position in shares of Essential Utilities by 1.4% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 26,080 shares of the company’s stock worth $1,041,000 after purchasing an additional 356 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Down 1.5%

NYSE:WTRG opened at $36.57 on Thursday. Essential Utilities Inc. has a 52 week low of $36.32 and a 52 week high of $42.37. The stock’s fifty day moving average is $39.44 and its two-hundred day moving average is $39.09. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of 18.56 and a beta of 0.67. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 1.21.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.07). Essential Utilities had a net margin of 21.82% and a return on equity of 8.34%. The firm had revenue of $861.76 million during the quarter, compared to analyst estimates of $782.90 million. During the same period in the previous year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts anticipate that Essential Utilities Inc. will post 2.25 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WTRG shares. UBS Group set a $41.00 price objective on shares of Essential Utilities in a report on Thursday, May 7th. Argus raised shares of Essential Utilities to a “strong-buy” rating in a research note on Monday, March 23rd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $42.40.

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.