Haverford Trust Co Sells 7,320 Shares of Essential Utilities, Inc. (NYSE:WTRG)

Haverford Trust Co trimmed its position in shares of Essential Utilities, Inc. (NYSE:WTRG) by 22.3% during the 3rd quarter, Holdings Channel reports. The firm owned 25,573 shares of the company’s stock after selling 7,320 shares during the period. Haverford Trust Co’s holdings in Essential Utilities were worth $986,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WTRG. Friedenthal Financial bought a new stake in Essential Utilities in the 3rd quarter valued at $25,000. Voisard Asset Management Group Inc. bought a new stake in Essential Utilities in the 2nd quarter valued at $37,000. Farther Finance Advisors LLC increased its holdings in Essential Utilities by 81.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company’s stock valued at $44,000 after acquiring an additional 515 shares during the last quarter. Bfsg LLC increased its holdings in Essential Utilities by 157.0% in the 3rd quarter. Bfsg LLC now owns 1,190 shares of the company’s stock valued at $46,000 after acquiring an additional 727 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in Essential Utilities in the 3rd quarter valued at $50,000. 74.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WTRG shares. Robert W. Baird lifted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Evercore ISI lifted their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Jefferies Financial Group downgraded shares of Essential Utilities from a “buy” rating to a “hold” rating and reduced their target price for the stock from $44.00 to $41.00 in a report on Thursday, November 7th. Bank of America restated a “buy” rating and issued a $45.00 target price on shares of Essential Utilities in a report on Friday, September 20th. Finally, Wells Fargo & Company reduced their target price on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Essential Utilities Price Performance

WTRG stock opened at $38.53 on Thursday. Essential Utilities, Inc. has a 12 month low of $33.57 and a 12 month high of $41.78. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average price of $39.07 and a 200 day moving average price of $38.78. The stock has a market cap of $10.58 billion, a PE ratio of 19.26, a P/E/G ratio of 3.10 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Monday, November 4th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $416.95 million. During the same period in the previous year, the company earned $0.30 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that Essential Utilities, Inc. will post 2.01 earnings per share for the current year.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a dividend of $0.3255 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.38%. Essential Utilities’s dividend payout ratio is presently 65.00%.

Essential Utilities Profile

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.