Essential Utilities, Inc. (NYSE:WTRG - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $33.38 and last traded at $33.51, with a volume of 268341 shares. The stock had previously closed at $34.08.
Analyst Ratings Changes
Several research firms have recently weighed in on WTRG. Wells Fargo & Company cut shares of Essential Utilities from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $43.00 to $39.00 in a report on Tuesday, January 7th. Bank of America restated a "buy" rating and set a $45.00 target price on shares of Essential Utilities in a research report on Friday, September 20th. Robert W. Baird increased their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a research report on Wednesday, November 6th. Finally, Jefferies Financial Group downgraded shares of Essential Utilities from a "buy" rating to a "hold" rating and reduced their price target for the stock from $44.00 to $41.00 in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Essential Utilities presently has an average rating of "Moderate Buy" and an average price target of $43.20.
Check Out Our Latest Stock Report on WTRG
Essential Utilities Stock Performance
The stock has a market capitalization of $9.26 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 3.06 and a beta of 0.86. The firm's fifty day moving average price is $37.97 and its two-hundred day moving average price is $38.78. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.
Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The company had revenue of $435.30 million during the quarter, compared to analyst estimates of $416.95 million. During the same quarter in the previous year, the firm earned $0.30 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that Essential Utilities, Inc. will post 2.01 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. Stockholders of record on Monday, February 10th will be given a dividend of $0.3255 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.86%. Essential Utilities's payout ratio is 65.00%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Pathway Financial Advisers LLC boosted its stake in Essential Utilities by 4,309.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company's stock worth $48,424,000 after buying an additional 1,227,010 shares during the period. Boston Trust Walden Corp boosted its stake in Essential Utilities by 117.3% during the third quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company's stock worth $75,701,000 after buying an additional 1,059,320 shares during the period. Nordea Investment Management AB boosted its stake 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 worth $247,134,000 after buying an additional 972,803 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Essential Utilities during the third quarter worth about $30,842,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Essential Utilities by 33.1% during the third quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company's stock worth $36,795,000 after purchasing an additional 237,096 shares in the last quarter. Institutional investors and hedge funds own 74.78% of the company's stock.
Essential Utilities Company Profile
(
Get Free Report)
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.
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