Analysts Set Essential Utilities, Inc. (NYSE:WTRG) PT at $44.00

Essential Utilities, Inc. (NYSE:WTRG - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $44.00.

WTRG has been the topic of a number of research analyst reports. Jefferies Financial Group lowered shares of Essential Utilities from a "buy" rating to a "hold" rating and reduced their target price for the stock from $44.00 to $41.00 in a research report on Thursday. 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. 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 report on Thursday, August 8th. Wells Fargo & Company lowered their target price on Essential Utilities from $45.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday. Finally, Bank of America restated a "buy" rating and set a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th.

Essential Utilities Trading Up 1.5 %

Shares of WTRG stock traded up $0.57 during trading hours on Friday, reaching $39.67. 1,923,247 shares of the stock were exchanged, compared to its average volume of 1,537,713. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 3.50 and a beta of 0.84. Essential Utilities has a 12-month low of $33.28 and a 12-month high of $41.78. The company's 50-day moving average price is $39.06 and its 200-day moving average price is $38.70. The company has a current ratio of 0.55, a quick ratio of 0.44 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.01. The firm had revenue of $435.30 million during the quarter, compared to analyst estimates of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. Essential Utilities's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. As a group, equities analysts anticipate that Essential Utilities will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in WTRG. Epoch Investment Partners Inc. purchased a new position in Essential Utilities in the first quarter valued at about $46,280,000. Pathway Financial Advisers LLC grew its position in shares of Essential Utilities by 4,309.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company's stock worth $48,424,000 after buying an additional 1,227,010 shares during the last quarter. Boston Trust Walden Corp raised its stake in shares of Essential Utilities by 117.3% during the 3rd quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company's stock worth $75,701,000 after acquiring an additional 1,059,320 shares in the last quarter. Energy Income Partners LLC bought a new position in shares of Essential Utilities during the 1st quarter worth approximately $26,917,000. Finally, AMF Tjanstepension AB acquired a new stake in Essential Utilities in the second quarter valued at approximately $11,853,000. 74.78% of the stock is owned by institutional investors.

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.