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

Essential Utilities, Inc. (NYSE:WTRG - Get Free Report) has earned an average rating of "Moderate Buy" from the six research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $43.50.

WTRG has been the subject of a number of research reports. UBS Group lowered their price target on Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. StockNews.com upgraded Essential Utilities from a "sell" rating to a "hold" rating in a research note on Sunday, April 20th. Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a research report on Tuesday, January 28th. Evercore ISI lifted their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, March 5th. Finally, Wells Fargo & Company upped their target price on Essential Utilities from $39.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th.

Essential Utilities Trading Down 0.6 %

Shares of NYSE:WTRG traded down $0.24 during trading on Thursday, reaching $40.13. The stock had a trading volume of 1,161,304 shares, compared to its average volume of 1,462,889. Essential Utilities has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The business has a fifty day moving average price of $38.92 and a 200-day moving average price of $37.96. The stock has a market cap of $11.06 billion, a P/E ratio of 20.07, a PEG ratio of 2.57 and a beta of 0.80. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $604.38 million for the quarter, compared to analysts' expectations of $698.77 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. As a group, 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, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.3255 dividend. This represents a $1.30 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Tuesday, May 13th. Essential Utilities's dividend payout ratio (DPR) is currently 59.91%.

Institutional Investors Weigh In On Essential Utilities

Hedge funds have recently made changes to their positions in the company. Synergy Asset Management LLC lifted its holdings in shares of Essential Utilities by 92.8% in the fourth quarter. Synergy Asset Management LLC now owns 148,009 shares of the company's stock valued at $5,529,000 after purchasing an additional 71,222 shares in the last quarter. Nordea Investment Management AB raised its position in Essential Utilities by 16.7% during the fourth 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 during the period. Brighton Jones LLC purchased a new stake in Essential Utilities in the 4th quarter worth about $638,000. JPMorgan Chase & Co. boosted its position in Essential Utilities by 33.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company's stock worth $36,795,000 after acquiring an additional 237,096 shares during the period. Finally, RWC Asset Management LLP purchased a new position in Essential Utilities during the 4th quarter valued at about $2,119,000. Hedge funds and other 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.