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

Shares of Essential Utilities, Inc. (NYSE:WTRG - Get Free Report) have received an average recommendation of "Moderate Buy" from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $43.50.

WTRG has been the topic of several recent research reports. Evercore ISI lifted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. UBS Group decreased their price target on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group upgraded shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective on the stock in a research report on Tuesday, January 28th.

Institutional Investors Weigh In On Essential Utilities

Institutional investors and hedge funds have recently modified their holdings of the business. Brooklyn Investment Group acquired a new stake in shares of Essential Utilities in the 3rd quarter valued at $26,000. VSM Wealth Advisory LLC acquired a new stake in shares of Essential Utilities in the 4th quarter valued at $26,000. Darwin Wealth Management LLC acquired a new stake in shares of Essential Utilities in the 3rd quarter valued at $28,000. First Horizon Advisors Inc. lifted its stake in shares of Essential Utilities by 61.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock valued at $30,000 after purchasing an additional 294 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Essential Utilities by 75.0% in the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock valued at $40,000 after purchasing an additional 473 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.

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Essential Utilities Price Performance

Essential Utilities stock traded up $1.36 during midday trading on Wednesday, hitting $39.81. The company's stock had a trading volume of 2,085,018 shares, compared to its average volume of 1,572,923. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The stock's 50-day moving average price is $35.85 and its 200-day moving average price is $37.83. Essential Utilities has a 12 month low of $33.18 and a 12 month high of $41.78. The company has a market capitalization of $10.95 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79.

Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $604.38 million for the quarter, compared to analysts' expectations of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Analysts anticipate that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is currently 59.91%.

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.