Essential Utilities, Inc. (NYSE:WTRG - Get Free Report)'s share price shot up 4.2% during mid-day trading on Thursday . The company traded as high as $41.17 and last traded at $41.06. 441,066 shares changed hands during trading, a decline of 70% from the average session volume of 1,450,424 shares. The stock had previously closed at $39.39.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on WTRG. StockNews.com upgraded shares of Essential Utilities from a "sell" rating to a "hold" rating in a research report on Friday. UBS Group lowered their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, January 14th. Evercore ISI raised their target price on Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Wells Fargo & Company boosted their price target on Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Finally, Jefferies Financial Group raised Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price objective on the stock in a research note on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $43.50.
View Our Latest Stock Analysis on WTRG
Essential Utilities Stock Performance
The company has a market cap of $10.57 billion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 2.57 and a beta of 0.80. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The company has a fifty day moving average of $37.62 and a two-hundred day moving average of $37.83.
Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.66 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 $604.38 million for the quarter, compared to analyst estimates of $698.77 million. Equities research analysts anticipate that Essential Utilities, Inc. will post 1.99 EPS for the current year.
Essential Utilities Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.3255 per share. This represents a $1.30 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Tuesday, May 13th. Essential Utilities's payout ratio is currently 59.91%.
Institutional Trading of Essential Utilities
Institutional investors and hedge funds have recently bought and sold shares of the stock. Synergy Asset Management LLC increased its stake 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 buying an additional 71,222 shares during the period. Nordea Investment Management AB boosted 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 acquiring an additional 972,803 shares during the last quarter. Brighton Jones LLC acquired a new stake in Essential Utilities during the 4th quarter valued at approximately $638,000. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 237,096 shares during the last quarter. Finally, RWC Asset Management LLP acquired a new position in shares of Essential Utilities in the 4th quarter worth approximately $2,119,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.
About Essential Utilities
(
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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