Essential Utilities, Inc. (NYSE:WTRG) Receives $43.50 Average PT from Analysts

Shares of Essential Utilities, Inc. (NYSE:WTRG) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $43.50.

Several research firms recently commented on WTRG. StockNews.com raised Essential Utilities from a “sell” rating to a “hold” rating in a report on Friday. UBS Group cut their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company boosted their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, January 28th. Finally, Evercore ISI lifted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th.

Essential Utilities Trading Down 2.5 %

Shares of WTRG opened at $39.62 on Friday. The firm’s fifty day moving average is $37.56 and its two-hundred day moving average is $37.83. The stock has a market cap of $10.92 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 2.57 and a beta of 0.80. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities has a 52-week low of $33.18 and a 52-week high of $41.78.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The company had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. Research analysts forecast that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a $0.3255 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.30 annualized dividend and a yield of 3.29%. Essential Utilities’s dividend payout ratio (DPR) is currently 59.91%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Glenmede Trust Co. NA grew its stake in shares of Essential Utilities by 1.6% in the third quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock valued at $2,001,000 after buying an additional 803 shares in the last quarter. Synergy Asset Management LLC boosted its holdings in Essential Utilities by 92.8% during the 4th quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock valued at $5,529,000 after acquiring an additional 71,222 shares during the period. Nordea Investment Management AB grew its position in Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after acquiring an additional 972,803 shares in the last quarter. Brighton Jones LLC acquired a new position in Essential Utilities in the 4th quarter valued at about $638,000. Finally, JPMorgan Chase & Co. increased its stake in Essential Utilities by 33.1% during the third quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company’s stock worth $36,795,000 after purchasing an additional 237,096 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Company 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.