Robert W. Baird Issues Positive Forecast for Essential Utilities (NYSE:WTRG) Stock Price

Essential Utilities (NYSE:WTRG) had its price target hoisted by Robert W. Baird from $45.00 to $46.00 in a research report report published on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other equities research analysts also recently issued reports on WTRG. Bank of America reaffirmed a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a research report on Friday, September 20th. Jefferies Financial Group began coverage on Essential Utilities in a research report on Monday, October 7th. They issued a “buy” rating and a $44.00 price target on the stock. Evercore ISI lifted their target price on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company decreased their target price on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Essential Utilities Price Performance

NYSE WTRG opened at $39.67 on Wednesday. The firm has a market cap of $10.86 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 3.50 and a beta of 0.84. The stock’s 50-day moving average is $39.06 and its two-hundred day moving average is $38.70. Essential Utilities has a fifty-two week low of $33.28 and a fifty-two week high of $41.78. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.44.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $435.30 million for the quarter, compared to the consensus estimate of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. On average, analysts anticipate that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Tuesday, November 12th. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WTRG. Epoch Investment Partners Inc. bought a new position in Essential Utilities during the first quarter worth about $46,280,000. Pathway Financial Advisers LLC lifted its stake in Essential Utilities by 4,309.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company’s stock worth $48,424,000 after purchasing an additional 1,227,010 shares during the period. Boston Trust Walden Corp lifted its stake in Essential Utilities by 117.3% during the third quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company’s stock worth $75,701,000 after purchasing an additional 1,059,320 shares during the period. Energy Income Partners LLC bought a new position in Essential Utilities during the first quarter worth about $26,917,000. Finally, AMF Tjanstepension AB bought a new position in shares of Essential Utilities in the second quarter valued at approximately $11,853,000. Institutional investors 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.