Citizens Financial Group Inc RI acquired a new position in shares of Essential Utilities Inc (NASDAQ:WTRG) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,556 shares of the company’s stock, valued at approximately $185,000.
Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Essential Utilities during the 1st quarter worth approximately $897,014,000. Bank of New York Mellon Corp acquired a new stake in Essential Utilities during the 1st quarter worth approximately $105,697,000. Jennison Associates LLC acquired a new stake in Essential Utilities during the 1st quarter worth approximately $92,054,000. First Trust Advisors LP acquired a new stake in Essential Utilities during the 1st quarter worth approximately $61,928,000. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Essential Utilities during the 1st quarter worth approximately $47,576,000.
Shares of WTRG opened at $41.03 on Friday. Essential Utilities Inc has a twelve month low of $30.40 and a twelve month high of $54.52. The firm has a fifty day moving average price of $41.53.
Essential Utilities (NASDAQ:WTRG) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03. The firm had revenue of $225.60 million during the quarter, compared to analyst estimates of $228.19 million. The business’s revenue for the quarter was up 12.2% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a $0.2343 dividend. The ex-dividend date is Thursday, May 14th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.28%.
A number of equities research analysts have issued reports on WTRG shares. Wells Fargo & Co increased their target price on shares of Essential Utilities from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 11th. Robert W. Baird increased their target price on shares of Essential Utilities from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Seaport Global Securities started coverage on shares of Essential Utilities in a report on Wednesday. They set a “neutral” rating on the stock. Goldman Sachs Group started coverage on shares of Essential Utilities in a report on Wednesday, April 15th. They set a “neutral” rating and a $45.00 target price on the stock. Finally, Royal Bank of Canada restated a “buy” rating and issued a $49.00 price objective on shares of Essential Utilities in a report on Wednesday, May 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $48.00.
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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