Essential Utilities, Inc. (NYSE:WTRG) Receives $44.00 Average Price Target from Brokerages

Essential Utilities, Inc. (NYSE:WTRG) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $44.00.

Several equities analysts have weighed in on WTRG shares. Bank of America reaffirmed a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Robert W. Baird upped their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company decreased their price target on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Jefferies Financial Group downgraded Essential Utilities from a “buy” rating to a “hold” rating and lowered their price objective for the company from $44.00 to $41.00 in a research report on Thursday, November 7th. Finally, Evercore ISI lifted their target price on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Epoch Investment Partners Inc. bought a new position in Essential Utilities during the first quarter valued at approximately $46,280,000. Pathway Financial Advisers LLC boosted its position in shares of Essential Utilities by 4,309.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company’s stock valued at $48,424,000 after acquiring an additional 1,227,010 shares during the last quarter. Boston Trust Walden Corp grew its holdings in shares of Essential Utilities by 117.3% in the third quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company’s stock valued at $75,701,000 after purchasing an additional 1,059,320 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Essential Utilities in the third quarter worth $30,842,000. Finally, Energy Income Partners LLC purchased a new stake in Essential Utilities during the first quarter valued at $26,917,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Up 0.9 %

NYSE:WTRG opened at $38.60 on Friday. Essential Utilities has a one year low of $33.57 and a one year high of $41.78. The business has a fifty day moving average price of $39.04 and a 200-day moving average price of $38.77. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 3.05 and a beta of 0.84. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 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 $435.30 million during the quarter, compared to analysts’ expectations of $416.95 million. During the same quarter in the prior year, the business posted $0.30 earnings per share. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Essential Utilities will post 2.01 EPS for the current year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.37%. The ex-dividend date is Tuesday, November 12th. Essential Utilities’s payout ratio is currently 65.00%.

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.