Essential Utilities, Inc. (NYSE:WTRG) Shares Sold by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. cut its holdings in Essential Utilities, Inc. (NYSE:WTRG) by 5.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,866,350 shares of the company’s stock after selling 100,337 shares during the period. Essential Utilities accounts for about 2.8% of Tandem Investment Advisors Inc.’s holdings, making the stock its 16th biggest position. Tandem Investment Advisors Inc. owned 0.68% of Essential Utilities worth $69,708,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. United Capital Financial Advisers LLC boosted its position in Essential Utilities by 1.7% during the 1st quarter. United Capital Financial Advisers LLC now owns 14,796 shares of the company’s stock worth $757,000 after purchasing an additional 248 shares during the period. Captrust Financial Advisors boosted its position in Essential Utilities by 3.3% in the 4th quarter. Captrust Financial Advisors now owns 8,694 shares of the company’s stock valued at $415,000 after buying an additional 274 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Essential Utilities by 0.4% during the second quarter. Stephens Inc. AR now owns 68,918 shares of the company’s stock valued at $2,751,000 after acquiring an additional 292 shares in the last quarter. Harbour Investments Inc. increased its position in shares of Essential Utilities by 14.0% during the fourth quarter. Harbour Investments Inc. now owns 2,403 shares of the company’s stock worth $115,000 after acquiring an additional 295 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Essential Utilities by 0.5% in the second quarter. Thrivent Financial for Lutherans now owns 65,412 shares of the company’s stock worth $2,999,000 after acquiring an additional 305 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Stock Up 1.9 %

NYSE WTRG traded up $0.63 during mid-day trading on Wednesday, reaching $34.51. 1,420,405 shares of the company’s stock traded hands, compared to its average volume of 1,789,363. Essential Utilities, Inc. has a 1-year low of $32.07 and a 1-year high of $44.05. The company has a fifty day simple moving average of $35.71 and a 200-day simple moving average of $35.63. 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 company has a market cap of $9.44 billion, a price-to-earnings ratio of 18.49, a P/E/G ratio of 3.01 and a beta of 0.82.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Friday, February 23rd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. The company had revenue of $479.40 million during 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%. The business’s revenue was down 32.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. As a group, equities research analysts expect that Essential Utilities, Inc. will post 2 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a $0.3071 dividend. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 9th. This represents a $1.23 annualized dividend and a dividend yield of 3.56%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.59%.

Wall Street Analyst Weigh In

Separately, Evercore ISI lowered their price objective on 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and an average target price of $43.00.

Insider Transactions at Essential Utilities

In related news, CAO Robert A. Rubin sold 5,565 shares of the firm’s 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 document filed with the SEC, which is available at the SEC website. Insiders own 0.21% of the company’s stock.

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.