Essential Utilities (NYSE:WTRG) Given New $42.00 Price Target at UBS Group

Essential Utilities (NYSE:WTRG) had its price target reduced by UBS Group from $45.00 to $42.00 in a research note published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company downgraded shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $43.00 to $39.00 in a research report on Tuesday, January 7th. Robert W. Baird increased their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Jefferies Financial Group lowered Essential Utilities from a “buy” rating to a “hold” rating and lowered their price objective for the company from $44.00 to $41.00 in a report on Thursday, November 7th. Finally, Bank of America reissued a “buy” rating and set a $45.00 target price on shares of Essential Utilities in a research note on Friday, September 20th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Essential Utilities Price Performance

Shares of WTRG opened at $34.18 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. Essential Utilities has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The firm has a 50-day simple moving average of $37.85 and a 200-day simple moving average of $38.75. The company has a market capitalization of $9.39 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 3.06 and a beta of 0.86.

Essential Utilities (NYSE:WTRG) last announced its earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company had revenue of $435.30 million for the quarter, compared to the consensus estimate of $416.95 million. During the same period last year, the business posted $0.30 EPS. The company’s revenue was up 5.8% on a year-over-year basis. On average, equities research analysts anticipate that Essential Utilities will post 2.01 earnings per share for the current year.

Essential Utilities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be issued a $0.3255 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 dividend on an annualized basis and a yield of 3.81%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Institutional Investors Weigh In On Essential Utilities

A number of institutional investors and hedge funds have recently modified their holdings of WTRG. Friedenthal Financial acquired a new position in Essential Utilities during the third quarter worth $25,000. Brooklyn Investment Group purchased a new position in shares of Essential Utilities in the third quarter valued at $26,000. Darwin Wealth Management LLC acquired a new position in shares of Essential Utilities during the 3rd quarter worth $28,000. First Horizon Advisors Inc. boosted its position in shares of Essential Utilities by 61.4% in the 3rd quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after buying an additional 294 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Essential Utilities in the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

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.