Essential Utilities (NYSE:WTRG) Stock Rating Upgraded by Jefferies Financial Group

Jefferies Financial Group upgraded shares of Essential Utilities (NYSE:WTRG - Free Report) from a hold rating to a buy rating in a research note released on Tuesday morning, MarketBeat Ratings reports. They currently have $41.00 price objective on the stock.

A number of other analysts have also recently weighed in on WTRG. Wells Fargo & Company cut shares of Essential Utilities from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $43.00 to $39.00 in a report on Tuesday, January 7th. Robert W. Baird raised their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a report on Wednesday, November 6th. Finally, UBS Group lowered their target price on Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Essential Utilities has an average rating of "Moderate Buy" and a consensus target price of $43.00.

Essential Utilities Stock Up 0.7 %

Shares of WTRG traded up $0.25 during midday trading on Tuesday, hitting $35.68. The company had a trading volume of 2,042,208 shares, compared to its average volume of 1,511,655. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 2.40 and a beta of 0.86. The company's 50 day moving average price is $37.02 and its 200 day moving average price is $38.57. 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 has a 52 week low of $33.18 and a 52 week 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 the consensus estimate of $0.24 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm had revenue of $435.30 million for the quarter, compared to analysts' expectations of $416.95 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Essential Utilities's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts predict that Essential Utilities will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be paid a $0.3255 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.65%. Essential Utilities's payout ratio is currently 65.00%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Benedict Financial Advisors Inc. grew its holdings in Essential Utilities by 1.2% during the fourth quarter. Benedict Financial Advisors Inc. now owns 77,700 shares of the company's stock worth $2,822,000 after acquiring an additional 902 shares during the period. Wilmington Savings Fund Society FSB lifted its position in shares of Essential Utilities by 1.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 55,507 shares of the company's stock valued at $2,016,000 after acquiring an additional 698 shares in the last quarter. Spirit of America Management Corp NY boosted its stake in Essential Utilities by 19.4% in the 4th quarter. Spirit of America Management Corp NY now owns 21,500 shares of the company's stock worth $781,000 after purchasing an additional 3,500 shares during the period. Retirement Systems of Alabama boosted its position in shares of Essential Utilities by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 351,291 shares of the company's stock worth $12,759,000 after buying an additional 1,339 shares during the period. Finally, abrdn plc increased its position in Essential Utilities by 76.4% in the 4th quarter. abrdn plc now owns 175,721 shares of the company's stock worth $6,337,000 after purchasing an additional 76,091 shares during the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

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.