According to the most recent filing that Kestra Advisory Services LLC made with the SEC, the company increased the amount of stock it owned in Essential Utilities, Inc. (NYSE: WTRG) by 144.9% during the third quarter of 2018. The fund had a total holding of 47,673 shares of the company’s stock at the end of the period, which resulted from the acquisition of an additional 28,209 shares of the company’s stock. At the end of the most recent financial quarter, the value of Kestra Advisory Services LLC’s holdings in Essential Utilities was calculated to be $1,973,000. This was the most recent quarter for which financial results were available.
Hedge funds and other types of institutional investors have been increasing the percentage of their holdings invested in the company over the past few months. During the second quarter of the fiscal year, Prudential PLC increased its percentage of Essential utility stock by 1.7%. Prudential PLC purchased 417 company stocks during the most recent fiscal quarter, bringing the total number of shares purchased to 25,253, with a value of $1,158,000. Banque Pictet & Cie SA increased the amount of essential utility stock owned by a factor of 1,005.6 during the year’s second quarter. Banque Pictet & Cie SA has 68,879 shares in the company following the purchase of an additional 62,649 shares during the most recent quarter. These shares are currently worth $3,158,00 at their current price. Van ECK Associates Corp. increased the proportion of the stock that it owned Essential Utilities owned by 3.7% during the third quarter of the fiscal year. Van ECK Associates Corp. now owns a total of 49,382 shares in the company, which have a value of $2,043,000, as a result of the acquisition of 1,779 additional shares in the company during the most recent quarter. These shares were purchased through the company’s stock purchase plan. During the third quarter, Mitchell Sinkler & Starr PA’s investment portfolio saw a 17.2% increase in the proportion of its holdings allocated to essential utilities. After making an additional purchase of 2,630 shares during the most recent fiscal quarter, Mitchell Sinkler & Starr PA now has a total of 17,880 shares in the company, which have a value of $740,000. This brings the total number of shares the firm owns in the company to a total of 17,880. And finally, during the third quarter, the amount of Essential utility stock held in the portfolio of Securian Asset Management Inc. increased by 3.7%. Following the acquisition of 786 additional shares in the company during the most recent fiscal quarter, Securian Asset Management Inc. now possesses a total of 21,776 shares, the value of which is $901,000. Most of the company’s stock is owned by institutional investors and hedge funds, which account for 69.96% of the total.
When trading started on Friday, a share of Essential utility stock was going for $46.54 per share. A debt-to-equity ratio of 1.16, a quick ratio of 0.37, and a current ratio of 0.64 are all values in financial statements. The stock price of Essential Utilities, Inc. has ranged from a low of $38.50 to a high of $52.62 over the past year. The moving average for the last 200 trading days for the company is $47.04, and the moving average for the last 50 trading days is $47.86. The company has a beta value of 0.76 and a P/E/G ratio of 4.20. The total market capitalization of the stock is $12.21 billion.
Essential Utilities (NYSE: WTRG) announced the outcomes of its most recent quarterly earnings report on November 7, a Monday. Earnings per share for the company came in at $0.26 for the quarter, which was $0.03 higher than the average projection made by market analysts, who were looking for $0.23 per share. Essential Utilities had a return on equity of 8.84% and a net margin of 22.04% for the company. The revenue for the quarter came in at $434.62 million, which was significantly higher than the $376.00 million that analysts had anticipated would be brought in. Sell-side analysts estimate that Essential Utilities, Inc. will bring in $1.78 in profits per share during the current fiscal year.
In addition, the business has decided to begin paying quarterly dividends, the first of which will be distributed to shareholders on March 1. Shareholders whose information is on record as of February 10 will be eligible to receive a $0.287 dividend payment. February 9, a Thursday, is when you will no longer be eligible to receive dividends after that point. This results in an annual dividend payment of $1.15 and a dividend yield of 2.47% when calculated annually. At this time, Essential Utilities’ dividend payout ratio (also known as DPR) stands at 64.97%.
According to earlier information regarding Essential Utilities, on November 28, company director Ellen T. Ruff sold 8,560 shares of the company’s stock. This transaction was reported in the news. The shares were sold for a total price of $410,537.60, which totals $47.96 per share. Following the successful completion of the sale, the director now possesses 26,972 shares of the company, which have a total value of $1,293,577.12 when taken together as a whole. You can find a copy of the filing that disclosed the transaction on the Securities and Exchange Commission (SEC) website. The filing described the transaction. Only 0.17% of the total number of shares that are currently outstanding belong to the company’s insiders.
Several research analysts’ views on the WTRG stock have recently been made public. Evercore ISI stated in a research report released on October 20 that they would now set their target price for essential utilities at $44.00. A recommendation to “sell” Essential Utilities was replaced with a “hold” rating in a research report that was made public by StockNews.com on December 28, and the word “sell” was not used at all in the study. On that day, the report was made available to the public. In a research report released on November 29 and authored by the UBS Group, Essential Utilities was rated ” neutral ” and had a “neutral” price objective of $52.00. This was an upgrade from the previous rating of “neutral.” Wells Fargo & Company announced on Wednesday, December 14, that the price target they established for essential utilities had been raised to $53.00. This news was included in a research report released on Wednesday, December 14. There are a total of six analysts who have provided the company with a buy recommendation, while there are only three analysts who have provided it with a hold recommendation. According to the information on Bloomberg.com, the company is currently rated as having a “Moderate Buy” average rating, and its price objective is currently at $51.86 per share.