Essential Utilities, Inc. (NYSE:WTRG) Given Average Rating of “Moderate Buy” by Analysts

Essential Utilities, Inc. (NYSE:WTRGGet Free Report) has earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $43.00.

A number of research firms have weighed in on WTRG. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and lowered their price target for the company from $44.00 to $41.00 in a report on Thursday, November 7th. Wells Fargo & Company lowered shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $43.00 to $39.00 in a report on Tuesday, January 7th. UBS Group decreased their price objective on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Robert W. Baird upped their price objective on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th.

Read Our Latest Stock Report on WTRG

Essential Utilities Stock Down 0.2 %

WTRG stock opened at $35.07 on Tuesday. The company has a fifty day simple moving average of $37.56 and a 200 day simple moving average of $38.71. Essential Utilities has a 1 year low of $33.18 and a 1 year 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 firm has a market cap of $9.63 billion, a PE ratio of 17.54, a PEG ratio of 2.44 and a beta of 0.86.

Essential Utilities (NYSE:WTRGGet Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The business had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $416.95 million. During the same quarter in the previous year, the firm earned $0.30 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. Sell-side analysts anticipate that Essential Utilities will post 1.99 EPS for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a dividend of $0.3255 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.71%. Essential Utilities’s dividend payout ratio (DPR) is currently 65.00%.

Institutional Trading of Essential Utilities

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Friedenthal Financial acquired a new position in shares of Essential Utilities during the third quarter valued at about $25,000. Brooklyn Investment Group bought a new position in shares of Essential Utilities during the 3rd quarter worth $26,000. Darwin Wealth Management LLC purchased a new position in shares of Essential Utilities in the third quarter worth about $28,000. First Horizon Advisors Inc. lifted its holdings in shares of Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares in the last quarter. Finally, Truvestments Capital LLC bought a new position in shares of Essential Utilities in the third quarter worth $42,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

About Essential Utilities

(Get Free Report

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.

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Analyst Recommendations for Essential Utilities (NYSE:WTRG)

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