Essential Utilities, Inc. (NYSE:WTRG) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Essential Utilities, Inc. (NYSE:WTRG - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $43.00.

Several research firms have recently commented on WTRG. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target for the company in a research report on Tuesday, January 28th. Wells Fargo & Company cut Essential Utilities from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. Robert W. Baird raised their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Finally, UBS Group dropped their price objective on Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th.

Hedge Funds Weigh In On Essential Utilities

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Essential Utilities by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 30,061,135 shares of the company's stock worth $1,091,820,000 after acquiring an additional 2,245,256 shares in the last quarter. Nordea Investment Management AB lifted its stake in Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company's stock valued at $247,134,000 after buying an additional 972,803 shares in the last quarter. Geode Capital Management LLC lifted its stake in Essential Utilities by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,305,976 shares of the company's stock valued at $165,701,000 after buying an additional 82,456 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Essential Utilities by 6.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,731,011 shares of the company's stock valued at $99,190,000 after buying an additional 175,707 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in Essential Utilities by 4.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,531,297 shares of the company's stock valued at $97,632,000 after buying an additional 100,990 shares in the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.

Essential Utilities Trading Up 1.3 %

Shares of WTRG traded up $0.44 during midday trading on Friday, hitting $35.38. 849,685 shares of the stock were exchanged, compared to its average volume of 1,426,360. Essential Utilities has a 52-week low of $33.18 and a 52-week high of $41.78. The stock has a fifty day simple moving average of $36.15 and a 200 day simple moving average of $38.20. The firm has a market cap of $9.71 billion, a P/E ratio of 17.69, a P/E/G ratio of 2.53 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities's payout ratio is 65.00%.

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.