Cbre Clarion Securities LLC bought a new position in Essential Utilities Inc (NASDAQ:WTRG) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 256,019 shares of the company’s stock, valued at approximately $10,420,000. Cbre Clarion Securities LLC owned approximately 0.11% of Essential Utilities at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CWM LLC purchased a new stake in Essential Utilities during the first quarter worth $25,000. First PREMIER Bank purchased a new stake in Essential Utilities during the first quarter worth $26,000. First Command Bank purchased a new stake in Essential Utilities during the first quarter worth $27,000. Princeton Global Asset Management LLC purchased a new stake in Essential Utilities during the first quarter worth $27,000. Finally, Capital Square LLC purchased a new stake in Essential Utilities during the first quarter worth $27,000.

WTRG has been the subject of several analyst reports. Goldman Sachs Group initiated coverage on Essential Utilities in a report on Wednesday, April 15th. They set a “neutral” rating and a $45.00 price objective for the company. Seaport Global Securities began coverage on Essential Utilities in a research report on Wednesday, May 20th. They set a “neutral” rating on the stock. Wells Fargo & Co increased their price target on Essential Utilities from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 11th. Royal Bank of Canada reaffirmed a “buy” rating and set a $49.00 price target on shares of Essential Utilities in a research report on Wednesday, May 13th. Finally, Robert W. Baird increased their price target on Essential Utilities from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $48.00.

Shares of NASDAQ:WTRG traded up $0.55 during trading on Wednesday, reaching $44.99. 652,832 shares of the company’s stock traded hands, compared to its average volume of 1,343,306. Essential Utilities Inc has a fifty-two week low of $30.40 and a fifty-two week high of $54.52. The stock has a 50-day simple moving average of $41.73.

Essential Utilities (NASDAQ:WTRG) last posted its earnings results on Wednesday, May 6th. The company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03. The business had revenue of $225.60 million for the quarter, compared to analyst estimates of $228.19 million. The business’s revenue was up 12.2% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.2343 dividend. The ex-dividend date was Thursday, May 14th. This represents a $0.94 annualized dividend and a dividend yield of 2.08%.

About Essential Utilities

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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Institutional Ownership by Quarter for Essential Utilities (NASDAQ:WTRG)

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