Essential Utilities (NYSE:WTRG) Price Target Raised to $41.00 at Wells Fargo & Company

Essential Utilities (NYSE:WTRG - Free Report) had its target price boosted by Wells Fargo & Company from $39.00 to $41.00 in a report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

WTRG has been the topic of several other research reports. Robert W. Baird boosted their price target on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research note on Wednesday, November 6th. Jefferies Financial Group upgraded Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 target price on the stock in a research report on Tuesday, January 28th. Finally, UBS Group cut their price target on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $43.33.

Essential Utilities Stock Up 3.0 %

Shares of NYSE WTRG traded up $1.13 during trading hours on Thursday, hitting $39.11. 1,861,174 shares of the stock were exchanged, compared to its average volume of 1,551,899. Essential Utilities has a 12 month low of $33.18 and a 12 month high of $41.78. The firm has a fifty day moving average price of $35.60 and a 200-day moving average price of $37.83. 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 company has a market cap of $10.74 billion, a PE ratio of 19.56, a PEG ratio of 2.57 and a beta of 0.86.

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

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a yield of 3.33%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's dividend payout ratio is currently 59.91%.

Institutional Investors Weigh In On Essential Utilities

Several hedge funds have recently bought and sold shares of WTRG. Vanguard Group Inc. lifted its stake in shares of Essential Utilities by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 30,061,135 shares of the company's stock valued at $1,091,820,000 after purchasing an additional 2,245,256 shares during the period. Nordea Investment Management AB increased its holdings in Essential Utilities by 16.7% in 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 in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Essential Utilities by 31.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,726,215 shares of the company's stock worth $244,296,000 after acquiring an additional 1,597,672 shares during the period. Geode Capital Management LLC raised its position in shares of Essential Utilities by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 4,317,312 shares of the company's stock worth $156,526,000 after acquiring an additional 11,336 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Essential Utilities by 6.8% during the 4th quarter. Invesco Ltd. now owns 3,690,116 shares of the company's stock worth $134,025,000 after acquiring an additional 236,250 shares in the last quarter. 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.