Charter Trust Co. bought a new stake in Essential Utilities Inc (NASDAQ:WTRG) during the first quarter, according to its most recent filing with the SEC. The firm bought 9,774 shares of the company’s stock, valued at approximately $398,000.
A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Essential Utilities in the 1st quarter valued at $897,014,000. Canada Pension Plan Investment Board acquired a new position in Essential Utilities in the 1st quarter valued at $881,607,000. State Street Corp acquired a new stake in Essential Utilities in the 1st quarter worth $437,680,000. Pictet Asset Management Ltd. acquired a new stake in Essential Utilities in the 1st quarter worth $262,626,000. Finally, Bank of New York Mellon Corp acquired a new stake in Essential Utilities in the 1st quarter worth $105,697,000.
In related news, EVP Matthew Rhodes sold 3,000 shares of Essential Utilities stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $45.55, for a total transaction of $136,650.00. Following the completion of the transaction, the executive vice president now directly owns 15,468 shares of the company’s stock, valued at approximately $704,567.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Several research firms have issued reports on WTRG. Robert W. Baird raised their price target on shares of Essential Utilities from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. TheStreet upgraded shares of Essential Utilities from a “c+” rating to a “b” rating in a research report on Monday. Seaport Global Securities began coverage on shares of Essential Utilities in a research report on Wednesday, May 20th. They issued a “neutral” rating on the stock. UBS Group raised their price target on shares of Essential Utilities from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $49.00 price target on shares of Essential Utilities in a research report on Wednesday, May 13th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.40.
Shares of NASDAQ:WTRG traded down $1.66 during midday trading on Thursday, reaching $44.06. 30,292 shares of the company’s stock were exchanged, compared to its average volume of 1,326,066. The business has a 50 day moving average price of $42.01. Essential Utilities Inc has a 12 month low of $30.40 and a 12 month high of $54.52.
Essential Utilities (NASDAQ:WTRG) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $225.60 million for the quarter, compared to the consensus estimate of $228.19 million. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis.
The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.2343 per share. This represents a $0.94 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Thursday, May 14th.
Essential Utilities Profile
Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water services through operating and maintenance contracts with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through third-party.
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