Robert W. Baird Raises Essential Utilities (NYSE:WTRG) Price Target to $45.00

Essential Utilities (NYSE:WTRG) had its price target raised by research analysts at Robert W. Baird from $43.00 to $45.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 12.64% from the stock’s current price.

Separately, Wells Fargo & Company increased their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Essential Utilities has an average rating of “Moderate Buy” and an average target price of $43.80.

Essential Utilities Stock Performance

NYSE WTRG traded up $0.50 during trading on Wednesday, hitting $39.95. The company’s stock had a trading volume of 306,371 shares, compared to its average volume of 1,583,580. Essential Utilities has a 52 week low of $32.07 and a 52 week high of $41.78. The company has a quick ratio of 0.52, a current ratio of 0.62 and a debt-to-equity ratio of 1.13. The firm has a market cap of $10.93 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 3.63 and a beta of 0.83. The firm has a 50 day moving average price of $38.50 and a 200 day moving average price of $37.15.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. The business had revenue of $434.40 million for the quarter, compared to analyst estimates of $442.76 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Equities research analysts forecast that Essential Utilities will post 1.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $37.43, for a total value of $87,661.06. Following the completion of the sale, the chief accounting officer now directly owns 53,391 shares in the company, valued at $1,998,425.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Essential Utilities

A number of large investors have recently bought and sold shares of the company. Kingswood Wealth Advisors LLC boosted its position in Essential Utilities by 4.5% during the second quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company’s stock valued at $259,000 after purchasing an additional 297 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of Essential Utilities by 78.9% in the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock valued at $28,000 after acquiring an additional 325 shares during the period. Sanibel Captiva Trust Company Inc. increased its stake in shares of Essential Utilities by 5.4% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 6,491 shares of the company’s stock worth $240,000 after purchasing an additional 334 shares during the last quarter. VisionPoint Advisory Group LLC grew its holdings in Essential Utilities by 52.9% during the fourth quarter. VisionPoint Advisory Group LLC now owns 977 shares of the company’s stock worth $36,000 after purchasing an additional 338 shares during the period. Finally, Meeder Advisory Services Inc. lifted its position in shares of Essential Utilities by 5.5% in the first quarter. Meeder Advisory Services Inc. now owns 6,506 shares of the company’s stock valued at $241,000 after buying an additional 339 shares during the last quarter. Institutional investors and hedge funds 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.