Essential Utilities, Inc. (NYSE:WTRG) Given Consensus Rating of “Buy” by Brokerages

Shares of Essential Utilities, Inc. (NYSE:WTRG) have earned a consensus recommendation of “Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $44.80.

A number of equities research analysts recently issued reports on WTRG shares. Jefferies Financial Group initiated coverage on Essential Utilities in a research report on Monday, October 7th. They issued a “buy” rating and a $44.00 target price on the stock. Robert W. Baird boosted their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Wells Fargo & Company raised their target price on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. 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 report on Thursday, August 8th. Finally, Bank of America restated a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a report on Friday, September 20th.

Essential Utilities Stock Down 0.4 %

Essential Utilities stock opened at $40.38 on Tuesday. The company has a 50 day moving average of $39.05 and a 200-day moving average of $38.35. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.14. Essential Utilities has a twelve month low of $32.42 and a twelve month high of $41.78. The stock has a market capitalization of $11.04 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 3.46 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last released its earnings results on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The firm had revenue of $434.40 million for the quarter, compared to the consensus estimate of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. Essential Utilities’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. On average, equities research analysts anticipate that Essential Utilities will post 1.99 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th were given a $0.3255 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Monday, August 12th. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s dividend payout ratio (DPR) is 61.61%.

Institutional Investors Weigh In On Essential Utilities

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

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.