Essential Utilities (NYSE:WTRG) Stock Price Expected to Rise, Evercore ISI Analyst Says

Essential Utilities (NYSE:WTRG - Get Free Report) had its price target increased by equities researchers at Evercore ISI from $45.00 to $46.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Evercore ISI's price objective would suggest a potential upside of 15.54% from the company's current price.

Other equities analysts have also issued research reports about the stock. 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. UBS Group reduced their target price on Essential Utilities from $45.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company lifted their price target on Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Finally, Robert W. Baird lifted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 6th. One 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, Essential Utilities has a consensus rating of "Moderate Buy" and an average target price of $43.50.

Essential Utilities Price Performance

WTRG traded up $1.36 during trading on Wednesday, reaching $39.81. 2,085,018 shares of the company were exchanged, compared to its average volume of 1,572,923. Essential Utilities has a 12-month low of $33.18 and a 12-month high of $41.78. The company has a market cap of $10.95 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 2.57 and a beta of 0.79. 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's 50-day moving average is $35.85 and its two-hundred day moving average is $37.83.

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Essential Utilities (NYSE:WTRG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) 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 company had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Research analysts forecast that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Essential Utilities

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group purchased a new position in Essential Utilities during the 3rd quarter valued at about $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Essential Utilities during the fourth quarter valued at approximately $26,000. Darwin Wealth Management LLC purchased a new position in Essential Utilities in the 3rd quarter worth approximately $28,000. First Horizon Advisors Inc. lifted its position in Essential Utilities by 61.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company's stock valued at $30,000 after acquiring an additional 294 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Essential Utilities during the 3rd quarter valued at $42,000. Institutional investors own 74.78% of the company's stock.

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.