Essential Utilities (NYSE:WTRG) Upgraded by StockNews.com to "Hold" Rating

Essential Utilities (NYSE:WTRG - Get Free Report) was upgraded by investment analysts at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Sunday.

WTRG has been the topic of a number of other reports. Wells Fargo & Company boosted their target price on Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. UBS Group decreased their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Evercore ISI raised their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, March 5th. Finally, Jefferies Financial Group raised shares of Essential Utilities from a "hold" rating to a "buy" rating and set a $41.00 price target on the stock in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.50.

Essential Utilities Stock Performance

NYSE:WTRG traded down $0.42 during mid-day trading on Friday, reaching $40.50. The stock had a trading volume of 238,390 shares, compared to its average volume of 1,462,633. 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 business has a 50 day simple moving average of $38.73 and a 200 day simple moving average of $37.94. Essential Utilities has a twelve month low of $33.18 and a twelve month high of $41.78. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.57 and a beta of 0.80.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data 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. 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. On average, analysts expect that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Essential Utilities

Hedge funds and other institutional investors have recently made changes to their positions in the business. VSM Wealth Advisory LLC purchased a new stake in Essential Utilities in the 4th quarter valued at about $26,000. American National Bank & Trust purchased a new stake in Essential Utilities in the first quarter valued at approximately $35,000. IFP Advisors Inc increased its position in Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company's stock worth $40,000 after purchasing an additional 473 shares during the last quarter. Orion Capital Management LLC purchased a new position in Essential Utilities during the fourth quarter worth approximately $41,000. Finally, CX Institutional acquired a new position in shares of Essential Utilities in the 1st quarter valued at $42,000. 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.