Essential Utilities (NYSE:WTRG) Raised to “Hold” at StockNews.com

Essential Utilities (NYSE:WTRG) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Tuesday, January 28th. UBS Group lowered their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Evercore ISI boosted their price target on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company increased their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Essential Utilities presently has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Essential Utilities Stock Performance

NYSE WTRG opened at $40.21 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The business’s 50 day moving average price is $38.51 and its 200-day moving average price is $37.90. The company has a market cap of $11.08 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.57 and a beta of 0.80. Essential Utilities has a fifty-two week low of $33.18 and a fifty-two week high of $41.78.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $604.38 million for the quarter, compared to analysts’ expectations of $698.77 million. Sell-side analysts predict that Essential Utilities will post 1.99 earnings per share for the current year.

Institutional Investors Weigh In On Essential Utilities

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Essential Utilities during the 4th quarter worth $102,600,000. Vanguard Group Inc. raised its position in shares of Essential Utilities by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 30,061,135 shares of the company’s stock valued at $1,091,820,000 after buying an additional 2,245,256 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in Essential Utilities by 31.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,726,215 shares of the company’s stock valued at $244,296,000 after acquiring an additional 1,597,672 shares during the last quarter. Cohen & Steers Inc. purchased a new position in Essential Utilities during the fourth quarter worth about $52,355,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after acquiring an additional 972,803 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

About Essential Utilities

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.