Essential Utilities (NYSE:WTRG) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Essential Utilities (NYSE:WTRG - Get Free Report) released its quarterly earnings results on Monday. The company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.01, Briefing.com reports. The company had revenue of $435.30 million during the quarter, compared to the consensus estimate of $416.95 million. Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share.

Essential Utilities Trading Up 3.9 %

Shares of WTRG stock traded up $1.50 on Tuesday, hitting $40.13. The company had a trading volume of 1,710,269 shares, compared to its average volume of 1,529,059. Essential Utilities has a twelve month low of $33.28 and a twelve month high of $41.78. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.44 and a current ratio of 0.58. The firm has a market cap of $10.98 billion, a P/E ratio of 19.58, a P/E/G ratio of 3.32 and a beta of 0.84. The stock's 50-day moving average is $38.98 and its two-hundred day moving average is $38.63.

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.24%. The ex-dividend date is Tuesday, November 12th. Essential Utilities's dividend payout ratio (DPR) is currently 63.41%.

Analysts Set New Price Targets

Several analysts have recently issued reports on WTRG shares. Evercore ISI increased their target price on Essential Utilities from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Essential Utilities in a research report on Monday, October 7th. They issued a "buy" rating and a $44.00 target price for the company. Wells Fargo & Company reduced their price target on shares of Essential Utilities from $45.00 to $43.00 and set an "overweight" rating on the stock in a research report on Tuesday. Bank of America restated a "buy" rating and set a $45.00 price objective on shares of Essential Utilities in a research report on Friday, September 20th. Finally, Robert W. Baird raised their target price on Essential Utilities from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, Essential Utilities currently has an average rating of "Moderate Buy" and a consensus price target of $44.40.

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.