Essential Utilities (NYSE:WTRG) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Essential Utilities (NYSE:WTRG) had its price target upped by Wells Fargo & Company from $39.00 to $41.00 in a report released on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently weighed in on WTRG. Robert W. Baird boosted their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. UBS Group dropped their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.33.

Essential Utilities Stock Performance

Shares of NYSE:WTRG opened at $37.65 on Thursday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. Essential Utilities has a 1 year low of $33.18 and a 1 year high of $41.78. The firm has a market capitalization of $10.34 billion, a PE ratio of 18.83, a P/E/G ratio of 2.57 and a beta of 0.87. The business’s 50 day moving average price is $35.57 and its 200-day moving average price is $37.86.

Essential Utilities (NYSE:WTRG) last released its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The business had revenue of $604.38 million during the quarter, compared to analyst estimates of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. As a group, equities research analysts expect that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date is Tuesday, May 13th. Essential Utilities’s payout ratio is 65.00%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Essential Utilities by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 30,061,135 shares of the company’s stock worth $1,091,820,000 after acquiring an additional 2,245,256 shares during the last quarter. Nordea Investment Management AB raised its position in Essential Utilities by 16.7% in the fourth quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after purchasing an additional 972,803 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Essential Utilities by 31.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 6,726,215 shares of the company’s stock worth $244,296,000 after buying an additional 1,597,672 shares during the period. Geode Capital Management LLC grew its stake in shares of Essential Utilities by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 4,317,312 shares of the company’s stock valued at $156,526,000 after buying an additional 11,336 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Essential Utilities by 6.8% in the 4th quarter. Invesco Ltd. now owns 3,690,116 shares of the company’s stock valued at $134,025,000 after buying an additional 236,250 shares during the period. 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.