Essential Utilities (NYSE:WTRG) Price Target Raised to $46.00

Essential Utilities (NYSE:WTRG - Get Free Report) had its price target upped by equities researchers at Robert W. Baird from $45.00 to $46.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price objective indicates a potential upside of 13.86% from the stock's current price.

A number of other research firms also recently weighed in on WTRG. Jefferies Financial Group initiated coverage on Essential Utilities in a research report on Monday, October 7th. They set a "buy" rating and a $44.00 target price for the company. Wells Fargo & Company dropped their price objective on Essential Utilities from $45.00 to $43.00 and set an "overweight" rating for the company in a report on Tuesday. Bank of America reaffirmed a "buy" rating and issued a $45.00 target price on shares of Essential Utilities in a research note on Friday, September 20th. Finally, Evercore ISI boosted their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an "outperform" rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Essential Utilities currently has an average rating of "Moderate Buy" and a consensus target price of $44.60.

Essential Utilities Price Performance

NYSE:WTRG traded up $0.28 during mid-day trading on Wednesday, reaching $40.40. 1,211,714 shares of the company were exchanged, compared to its average volume of 1,527,582. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.14. The stock has a market cap of $11.06 billion, a PE ratio of 20.22, a PEG ratio of 3.35 and a beta of 0.84. Essential Utilities has a 12 month low of $33.28 and a 12 month high of $41.78. The company has a fifty day moving average of $39.01 and a 200 day moving average of $38.66.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.94%. The business had revenue of $435.30 million for the quarter, compared to analysts' expectations of $416.95 million. During the same period in the prior year, the firm earned $0.30 earnings per share. Essential Utilities's revenue was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that Essential Utilities will post 1.99 EPS 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 company. Friedenthal Financial bought a new stake in shares of Essential Utilities in the third quarter valued at approximately $25,000. Voisard Asset Management Group Inc. acquired a new position in Essential Utilities in the second quarter valued at about $37,000. Farther Finance Advisors LLC lifted its position in Essential Utilities by 81.2% during the third quarter. Farther Finance Advisors LLC now owns 1,149 shares of the company's stock worth $44,000 after purchasing an additional 515 shares during the period. Bfsg LLC grew its stake in Essential Utilities by 157.0% during the third quarter. Bfsg LLC now owns 1,190 shares of the company's stock worth $46,000 after buying an additional 727 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. bought a new position in Essential Utilities in the 3rd quarter valued at about $50,000. 74.78% of the stock is owned by institutional investors.

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.