Essential Utilities, Inc. (NYSE:WTRG) Receives Consensus Rating of “Buy” from Analysts

Essential Utilities, Inc. (NYSE:WTRG) has received an average rating of “Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $44.80.

A number of research firms have recently issued reports on WTRG. Robert W. Baird boosted their price target on shares of Essential Utilities from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Jefferies Financial Group began coverage on shares of Essential Utilities in a research note on Monday, October 7th. They issued a “buy” rating and a $44.00 price objective on the stock. Evercore ISI upped their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Bank of America reiterated a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a research note on Friday, September 20th. Finally, Wells Fargo & Company upped their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st.

Essential Utilities Stock Up 1.9 %

WTRG stock opened at $39.90 on Tuesday. Essential Utilities has a 52-week low of $32.42 and a 52-week high of $41.78. The company’s 50 day simple moving average is $38.97 and its 200-day simple moving average is $38.21. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.58 and a quick ratio of 0.44. The firm has a market capitalization of $10.91 billion, a P/E ratio of 18.91, a P/E/G ratio of 3.35 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The firm had revenue of $434.40 million for the quarter, compared to analyst estimates of $442.76 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities research analysts anticipate that Essential Utilities will post 1.99 EPS for the current year.

Essential Utilities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were paid a dividend of $0.3255 per share. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date was Monday, August 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.26%. Essential Utilities’s dividend payout ratio is 61.61%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Kingswood Wealth Advisors LLC increased its stake in shares of Essential Utilities by 4.5% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company’s stock worth $259,000 after purchasing an additional 297 shares during the last quarter. Sanibel Captiva Trust Company Inc. boosted its holdings in shares of Essential Utilities by 5.4% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 6,491 shares of the company’s stock worth $240,000 after buying an additional 334 shares during the period. Meeder Advisory Services Inc. boosted its holdings in shares of Essential Utilities by 5.5% during the 1st quarter. Meeder Advisory Services Inc. now owns 6,506 shares of the company’s stock worth $241,000 after buying an additional 339 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Essential Utilities by 8.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,416 shares of the company’s stock worth $165,000 after buying an additional 352 shares during the period. Finally, First Affirmative Financial Network boosted its holdings in shares of Essential Utilities by 5.1% during the 1st quarter. First Affirmative Financial Network now owns 7,910 shares of the company’s stock worth $293,000 after buying an additional 386 shares during the period. Institutional investors and hedge funds own 74.78% of the company’s stock.

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.