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

Shares of Essential Utilities, Inc. (NYSE:WTRG) have received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $43.00.

A number of brokerages recently issued reports on WTRG. UBS Group lowered 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. Wells Fargo & Company downgraded Essential Utilities from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $43.00 to $39.00 in a research report on Tuesday, January 7th. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Tuesday, January 28th. Finally, Robert W. Baird lifted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th.

Institutional Investors Weigh In On Essential Utilities

A number of institutional investors have recently made changes to their positions in WTRG. Nordea Investment Management AB lifted its stake in Essential Utilities by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after purchasing an additional 972,803 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Essential Utilities by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company’s stock valued at $165,701,000 after acquiring an additional 82,456 shares during the period. Bank of New York Mellon Corp boosted its holdings in Essential Utilities by 6.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,731,011 shares of the company’s stock valued at $99,190,000 after acquiring an additional 175,707 shares during the period. Duff & Phelps Investment Management Co. grew its position in Essential Utilities by 4.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company’s stock worth $97,632,000 after acquiring an additional 100,990 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Essential Utilities by 7.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,154,215 shares of the company’s stock worth $83,088,000 after purchasing an additional 145,767 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Stock Performance

Essential Utilities stock opened at $35.15 on Friday. The firm’s 50 day simple moving average is $36.35 and its 200 day simple moving average is $38.31. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. Essential Utilities has a 1-year low of $33.18 and a 1-year high of $41.78. The firm has a market capitalization of $9.65 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.54 and a beta of 0.86.

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Monday, February 10th. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

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.