Essential Utilities (NYSE:WTRG) Cut to Hold at Jefferies Financial Group

Jefferies Financial Group cut shares of Essential Utilities (NYSE:WTRG - Free Report) from a buy rating to a hold rating in a research note published on Thursday morning, Marketbeat.com reports. The brokerage currently has $41.00 price target on the stock, down from their prior price target of $44.00.

WTRG has been the subject of several other research reports. Evercore ISI lifted their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an "outperform" rating in a research note on Thursday, August 8th. Bank of America reaffirmed a "buy" rating and issued a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. Wells Fargo & Company reduced their target price on Essential Utilities from $45.00 to $43.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Robert W. Baird upped their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $44.00.

Essential Utilities Trading Down 3.1 %

WTRG stock traded down $1.23 during midday trading on Thursday, hitting $39.12. The stock had a trading volume of 2,010,085 shares, compared to its average volume of 1,535,928. The company has a current ratio of 0.58, a quick ratio of 0.44 and a debt-to-equity ratio of 1.14. The firm has a market cap of $10.70 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84. The business has a fifty day moving average price of $39.03 and a two-hundred day moving average price of $38.67. Essential Utilities has a 1-year low of $33.28 and a 1-year high of $41.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 7.94% 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 in the previous year, the business earned $0.30 EPS. On average, sell-side analysts predict that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.3255 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.30 annualized dividend and a yield of 3.33%. Essential Utilities's payout ratio is 65.00%.

Institutional Trading of Essential Utilities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Friedenthal Financial bought a new stake in shares of Essential Utilities in the 3rd quarter worth $25,000. Voisard Asset Management Group Inc. purchased a new position in Essential Utilities during the second quarter worth about $37,000. Farther Finance Advisors LLC grew its position in Essential Utilities by 81.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company's stock worth $44,000 after purchasing an additional 515 shares in the last quarter. Bfsg LLC increased its stake in Essential Utilities by 157.0% in the 3rd quarter. Bfsg LLC now owns 1,190 shares of the company's stock valued at $46,000 after buying an additional 727 shares during the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new position in shares of Essential Utilities during the 3rd quarter worth approximately $50,000. 74.78% of the stock is owned by institutional investors.

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.