Essential Utilities, Inc. (NYSE:WTRG) Receives Consensus Recommendation of “Buy” from Analysts

Essential Utilities, Inc. (NYSE:WTRG) has been given an average rating of “Buy” by the six brokerages that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $44.80.

WTRG has been the subject of a number of analyst reports. 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 price objective for the company. Bank of America reaffirmed a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Wells Fargo & Company increased their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI boosted their price objective on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, 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 note on Wednesday, August 7th.

Essential Utilities Stock Up 1.2 %

Shares of WTRG stock opened at $40.55 on Tuesday. The stock has a market cap of $11.10 billion, a P/E ratio of 19.78, a P/E/G ratio of 3.46 and a beta of 0.84. Essential Utilities has a twelve month low of $32.42 and a twelve month high of $41.78. The stock has a 50 day moving average of $39.02 and a 200 day moving average of $38.30. The company has a current ratio of 0.58, a quick ratio of 0.44 and a debt-to-equity ratio of 1.14.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Monday, August 5th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $442.76 million. Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. Essential Utilities’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. As a group, sell-side analysts expect that Essential Utilities will post 1.99 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a dividend of $0.3255 per share. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 annualized dividend and a yield of 3.21%. The ex-dividend date was Monday, August 12th. Essential Utilities’s payout ratio is 63.41%.

Institutional Trading of Essential Utilities

Several large investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Essential Utilities by 24.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 152,120 shares of the company’s stock valued at $5,636,000 after acquiring an additional 30,152 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Essential Utilities by 12.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 139,534 shares of the company’s stock valued at $5,171,000 after purchasing an additional 15,009 shares during the last quarter. Nordea Investment Management AB lifted its position in Essential Utilities by 17,553.7% during the first quarter. Nordea Investment Management AB now owns 3,425,350 shares of the company’s stock worth $126,156,000 after buying an additional 3,405,947 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in Essential Utilities during the first quarter worth $46,280,000. Finally, Boston Trust Walden Corp grew its holdings in Essential Utilities by 350.3% in the 2nd quarter. Boston Trust Walden Corp now owns 903,372 shares of the company’s stock valued at $33,723,000 after buying an additional 702,760 shares in the last quarter. 74.78% of the stock is currently owned by hedge funds and other institutional investors.

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.