Essential Utilities (NYSE:WTRG – Free Report) had its price target hoisted by Evercore ISI from $45.00 to $46.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.
Several other equities analysts have also weighed in on WTRG. UBS Group dropped their price objective 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. Wells Fargo & Company raised their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Tuesday, January 28th. Finally, Robert W. Baird raised their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Essential Utilities has an average rating of “Moderate Buy” and an average price target of $43.50.
View Our Latest Research Report on WTRG
Essential Utilities Stock Up 3.5 %
Essential Utilities stock opened at $39.81 on Wednesday. The company has a 50 day moving average of $35.85 and a 200-day moving average of $37.83. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $10.95 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. Essential Utilities has a twelve month low of $33.18 and a twelve month high of $41.78.
Essential Utilities (NYSE:WTRG – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $604.38 million for the quarter, compared to analyst estimates of $698.77 million. On average, equities research analysts anticipate 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. Investors of record on Tuesday, May 13th will be issued a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.27%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s dividend payout ratio (DPR) is presently 59.91%.
Institutional Investors Weigh In On Essential Utilities
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Glenmede Trust Co. NA grew its holdings in shares of Essential Utilities by 1.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock valued at $2,001,000 after purchasing an additional 803 shares during the last quarter. Synergy Asset Management LLC grew its holdings in shares of 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 purchasing an additional 71,222 shares during the last quarter. Nordea Investment Management AB boosted its position in 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 buying an additional 972,803 shares during the period. Empower Advisory Group LLC boosted its position in Essential Utilities by 5.6% during the 3rd quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company’s stock worth $61,152,000 after buying an additional 84,596 shares during the period. Finally, Brighton Jones LLC acquired a new stake in Essential Utilities during the 4th quarter worth approximately $638,000. 74.78% of the stock is owned by 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.
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