Shares of Essential Utilities, Inc. (NYSE:WTRG – Get Free Report) have been given an average rating of “Moderate Buy” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $43.50.
Several research firms have recently commented on WTRG. Wells Fargo & Company lifted their price target on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. 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. Jefferies Financial Group raised shares of 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. Finally, UBS Group reduced their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th.
Get Our Latest Stock Analysis on Essential Utilities
Hedge Funds Weigh In On Essential Utilities
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in 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 purchasing an additional 2,245,256 shares during the period. Nordea Investment Management AB grew its stake in shares of Essential Utilities by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after buying an additional 972,803 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in shares of Essential Utilities by 31.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,726,215 shares of the company’s stock valued at $244,296,000 after buying an additional 1,597,672 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Essential Utilities by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 4,317,312 shares of the company’s stock valued at $156,526,000 after buying an additional 11,336 shares during the period. Finally, Invesco Ltd. lifted its stake in Essential Utilities by 6.8% during the 4th quarter. Invesco Ltd. now owns 3,690,116 shares of the company’s stock worth $134,025,000 after acquiring an additional 236,250 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.
Essential Utilities Stock Up 3.2 %
Shares of NYSE WTRG opened at $40.65 on Friday. 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 company has a 50-day moving average of $37.44 and a 200 day moving average of $37.84. Essential Utilities has a 12-month low of $33.18 and a 12-month high of $41.78. The stock has a market cap of $11.20 billion, a PE ratio of 20.32, a P/E/G ratio of 2.57 and a beta of 0.79.
Essential Utilities (NYSE:WTRG – Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 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 $604.38 million during the quarter, compared to analyst estimates of $698.77 million. As a group, sell-side analysts predict that Essential Utilities will post 1.99 EPS for the current fiscal year.
Essential Utilities Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s dividend payout ratio is presently 59.91%.
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.
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