Essential Utilities, Inc. (NYSE:WTRG - Get Free Report) CAO Robert A. Rubin sold 2,023 shares of the company's stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total transaction of $73,960.88. Following the completion of the sale, the chief accounting officer now directly owns 13,358 shares of the company's stock, valued at approximately $488,368.48. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Essential Utilities Price Performance
Shares of WTRG stock opened at $37.76 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.48 and a current ratio of 0.62. Essential Utilities, Inc. has a fifty-two week low of $32.07 and a fifty-two week high of $43.74. The firm has a market cap of $10.33 billion, a P/E ratio of 17.90, a P/E/G ratio of 3.28 and a beta of 0.80. The business's 50 day moving average price is $35.80 and its 200-day moving average price is $35.83.
Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings data on Friday, February 23rd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. Essential Utilities had a net margin of 29.52% and a return on equity of 8.72%. The business had revenue of $479.40 million during the quarter, compared to analyst estimates of $708.50 million. During the same period last year, the business posted $0.44 earnings per share. Essential Utilities's quarterly revenue was down 32.0% compared to the same quarter last year. On average, equities research analysts anticipate that Essential Utilities, Inc. will post 2 earnings per share for the current year.
Essential Utilities Increases Dividend
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The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be paid a dividend of $0.3071 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.23 annualized dividend and a yield of 3.25%. This is a positive change from Essential Utilities's previous quarterly dividend of $0.31. Essential Utilities's payout ratio is presently 58.29%.
Analyst Upgrades and Downgrades
Separately, Evercore ISI lowered their price target on shares of Essential Utilities from $51.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $43.00.
View Our Latest Analysis on WTRG
Institutional Trading of Essential Utilities
Several hedge funds and other institutional investors have recently made changes to their positions in WTRG. Bare Financial Services Inc purchased a new position in Essential Utilities in the fourth quarter worth about $25,000. Tradewinds Capital Management LLC lifted its position in Essential Utilities by 857.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company's stock valued at $26,000 after acquiring an additional 626 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Essential Utilities by 604.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company's stock valued at $27,000 after purchasing an additional 610 shares during the last quarter. Lindbrook Capital LLC boosted its stake in Essential Utilities by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company's stock valued at $28,000 after purchasing an additional 325 shares during the last quarter. Finally, Valley National Advisers Inc. raised its position in Essential Utilities by 4,210.0% in the 4th quarter. Valley National Advisers Inc. now owns 862 shares of the company's stock worth $32,000 after buying an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 74.78% of the company's stock.
Essential Utilities Company Profile
(
Get Free Report)
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.
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