Essential Utilities (NYSE:WTRG) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Essential Utilities (NYSE:WTRG) from a hold rating to a buy rating in a report released on Tuesday, Marketbeat Ratings reports. They currently have $41.00 price target on the stock.

WTRG has been the subject of a number of other reports. UBS Group dropped their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Wells Fargo & Company downgraded shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $43.00 to $39.00 in a report on Tuesday, January 7th. Finally, 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 research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Essential Utilities has an average rating of “Moderate Buy” and an average price target of $43.00.

Essential Utilities Trading Up 0.9 %

NYSE WTRG opened at $35.48 on Tuesday. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $9.74 billion, a P/E ratio of 17.74, a P/E/G ratio of 2.40 and a beta of 0.86. Essential Utilities has a 52-week low of $33.18 and a 52-week high of $41.78. The firm has a 50-day moving average price of $36.88 and a 200 day moving average price of $38.51.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. Essential Utilities’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. Equities research analysts expect that Essential Utilities will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be issued a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Monday, February 10th. Essential Utilities’s dividend payout ratio is currently 65.00%.

Hedge Funds Weigh In On Essential Utilities

A number of hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its stake in Essential Utilities by 6,305.9% in the fourth quarter. Allworth Financial LP now owns 187,180 shares of the company’s stock valued at $6,291,000 after acquiring an additional 184,258 shares during the period. Manchester Capital Management LLC boosted its position in Essential Utilities by 15.1% during the 4th quarter. Manchester Capital Management LLC now owns 10,668 shares of the company’s stock valued at $387,000 after purchasing an additional 1,398 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in Essential Utilities by 4.8% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 6,342 shares of the company’s stock worth $230,000 after buying an additional 289 shares during the last quarter. Vontobel Holding Ltd. increased its position in Essential Utilities by 8.2% in the fourth quarter. Vontobel Holding Ltd. now owns 104,213 shares of the company’s stock worth $3,785,000 after buying an additional 7,929 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Essential Utilities by 108.2% in the fourth quarter. Van ECK Associates Corp now owns 150,332 shares of the company’s stock valued at $5,460,000 after buying an additional 78,121 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.