Essential Utilities (NYSE:WTRG) Upgraded to Buy at Jefferies Financial Group

Essential Utilities (NYSE:WTRGGet Free Report) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $41.00 price target on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 16.49% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Robert W. Baird boosted their target price on 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 lowered Essential Utilities from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $43.00 to $39.00 in a report on Tuesday, January 7th. Finally, UBS Group lowered their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.00.

View Our Latest Analysis on WTRG

Essential Utilities Trading Down 1.4 %

NYSE:WTRG opened at $35.20 on Tuesday. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.40 and a beta of 0.86. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. Essential Utilities has a 1 year low of $33.18 and a 1 year high of $41.78. The business has a fifty day moving average of $36.96 and a 200-day moving average of $38.53.

Essential Utilities (NYSE:WTRGGet Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 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 $435.30 million during the quarter, compared to analyst estimates of $416.95 million. During the same quarter in the prior year, the firm posted $0.30 EPS. Essential Utilities’s revenue was up 5.8% compared to the same quarter last year. Equities analysts predict that Essential Utilities will post 1.99 earnings per share for the current year.

Hedge Funds Weigh In On Essential Utilities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc grew its position in Essential Utilities by 1.8% during the third quarter. CIBC Asset Management Inc now owns 14,243 shares of the company’s stock valued at $549,000 after purchasing an additional 250 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Essential Utilities by 61.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after acquiring an additional 294 shares in the last quarter. Tompkins Financial Corp increased its stake in shares of Essential Utilities by 21.7% in the third quarter. Tompkins Financial Corp now owns 1,685 shares of the company’s stock worth $65,000 after acquiring an additional 300 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Essential Utilities by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 70,100 shares of the company’s stock worth $2,546,000 after acquiring an additional 300 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Essential Utilities by 7.2% during the fourth quarter. GAMMA Investing LLC now owns 4,946 shares of the company’s stock valued at $180,000 after purchasing an additional 332 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Company Profile

(Get Free Report)

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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Analyst Recommendations for Essential Utilities (NYSE:WTRG)

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