Wells Fargo & Company Issues Pessimistic Forecast for Essential Utilities (NYSE:WTRG) Stock Price

Essential Utilities (NYSE:WTRG - Free Report) had its price objective decreased by Wells Fargo & Company from $45.00 to $43.00 in a research report report published on Tuesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on the stock. Evercore ISI boosted their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday, August 8th. Bank of America reissued a "buy" rating and set a $45.00 price objective on shares of Essential Utilities in a research report on Friday, September 20th. Robert W. Baird upped their target price on Essential Utilities from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 7th. Finally, Jefferies Financial Group initiated coverage on Essential Utilities in a research note on Monday, October 7th. They set a "buy" rating and a $44.00 price target for the company. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $44.40.

Essential Utilities Stock Up 3.9 %

Essential Utilities stock traded up $1.50 during mid-day trading on Tuesday, hitting $40.13. The company's stock had a trading volume of 1,710,269 shares, compared to its average volume of 1,529,059. Essential Utilities has a 52-week low of $33.28 and a 52-week high of $41.78. The company has a market cap of $10.98 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 3.32 and a beta of 0.84. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.58 and a quick ratio of 0.44. The firm's 50 day moving average is $39.01 and its 200 day moving average is $38.66.

Essential Utilities (NYSE:WTRG - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.01. The business had revenue of $435.30 million during the quarter, compared to analyst estimates of $416.95 million. Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The firm's revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 earnings per share. On average, analysts anticipate that Essential Utilities will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

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

Institutional Investors Weigh In On Essential Utilities

Several institutional investors and hedge funds have recently added to or reduced their stakes in WTRG. Bank of New York Mellon Corp boosted its holdings in Essential Utilities by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 2,754,099 shares of the company's stock valued at $102,811,000 after acquiring an additional 9,822 shares during the period. Tandem Investment Advisors Inc. boosted its stake in Essential Utilities by 0.5% during the 3rd quarter. Tandem Investment Advisors Inc. now owns 2,034,497 shares of the company's stock valued at $78,471,000 after purchasing an additional 10,560 shares during the period. Boston Trust Walden Corp grew its holdings in Essential Utilities by 117.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company's stock valued at $75,701,000 after buying an additional 1,059,320 shares during the last quarter. Empower Advisory Group LLC increased its position in Essential Utilities by 5.6% in the 3rd quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company's stock worth $61,152,000 after buying an additional 84,596 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Essential Utilities by 18.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,500,150 shares of the company's stock valued at $56,002,000 after acquiring an additional 234,857 shares during the period. 74.78% of the stock is currently owned by institutional investors and hedge funds.

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.