Essential Utilities (WTRG) to Release Earnings on Wednesday

Essential Utilities (NYSE:WTRGGet Rating) is scheduled to release its earnings data after the market closes on Wednesday, August 3rd. Analysts expect Essential Utilities to post earnings of $0.31 per share for the quarter. Essential Utilities has set its FY22 guidance at $1.75-1.80 EPS and its FY 2022 guidance at $1.75-$1.80 EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Essential Utilities (NYSE:WTRGGet Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $699.30 million during the quarter, compared to the consensus estimate of $617.07 million. Essential Utilities had a return on equity of 8.77% and a net margin of 22.43%. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 earnings per share. On average, analysts expect Essential Utilities to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Essential Utilities Stock Performance

Shares of WTRG opened at $51.83 on Tuesday. The stock has a 50 day moving average price of $46.37 and a 200 day moving average price of $47.13. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 4.76 and a beta of 0.70. Essential Utilities has a 52-week low of $40.97 and a 52-week high of $53.93.

Institutional Investors Weigh In On Essential Utilities

Several large investors have recently modified their holdings of the stock. 1832 Asset Management L.P. acquired a new position in Essential Utilities during the first quarter worth $38,000. Covestor Ltd grew its holdings in Essential Utilities by 47.0% during the first quarter. Covestor Ltd now owns 1,176 shares of the company’s stock worth $60,000 after acquiring an additional 376 shares during the period. Ethic Inc. grew its holdings in Essential Utilities by 13.7% during the first quarter. Ethic Inc. now owns 4,688 shares of the company’s stock worth $240,000 after acquiring an additional 564 shares during the period. Toroso Investments LLC grew its holdings in Essential Utilities by 16.7% during the first quarter. Toroso Investments LLC now owns 4,754 shares of the company’s stock worth $243,000 after acquiring an additional 679 shares during the period. Finally, Meridian Wealth Partners LLC grew its holdings in Essential Utilities by 16.4% during the first quarter. Meridian Wealth Partners LLC now owns 6,539 shares of the company’s stock worth $334,000 after acquiring an additional 921 shares during the period. Hedge funds and other institutional investors own 70.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WTRG. Wells Fargo & Company boosted their price objective on Essential Utilities from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Tuesday, April 19th. HSBC cut Essential Utilities from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research note on Friday, April 8th. They noted that the move was a valuation call. Northcoast Research began coverage on Essential Utilities in a research note on Monday, July 18th. They issued a “buy” rating for the company. Barclays reduced their price objective on Essential Utilities from $54.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, July 18th. Finally, Robert W. Baird reduced their price objective on Essential Utilities from $53.00 to $50.00 in a research note on Tuesday, May 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Essential Utilities presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

About Essential Utilities

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Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. It offers water services through operating and maintenance contract with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through a third-party.

Further Reading

Earnings History for Essential Utilities (NYSE:WTRG)

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