Essential Utilities, Inc. (NYSE:WTRG) Receives $43.00 Consensus PT from Analysts

Essential Utilities, Inc. (NYSE:WTRGGet Free Report) has earned an average recommendation of “Buy” from the four ratings firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $43.00.

Separately, Evercore ISI decreased their price target on Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, March 4th.

Read Our Latest Stock Analysis on Essential Utilities

Institutional Trading of Essential Utilities

Several hedge funds have recently bought and sold shares of the stock. United Capital Financial Advisers LLC lifted its stake in shares of Essential Utilities by 1.7% during the 1st quarter. United Capital Financial Advisers LLC now owns 14,796 shares of the company’s stock valued at $757,000 after buying an additional 248 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Essential Utilities by 3.3% in the fourth quarter. Captrust Financial Advisors now owns 8,694 shares of the company’s stock worth $415,000 after acquiring an additional 274 shares during the period. Stephens Inc. AR grew its position in shares of Essential Utilities by 0.4% during the second quarter. Stephens Inc. AR now owns 68,918 shares of the company’s stock worth $2,751,000 after purchasing an additional 292 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Essential Utilities by 0.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 55,525 shares of the company’s stock valued at $2,074,000 after purchasing an additional 294 shares during the period. Finally, Harbour Investments Inc. lifted its holdings in Essential Utilities by 14.0% in the 4th quarter. Harbour Investments Inc. now owns 2,403 shares of the company’s stock worth $115,000 after purchasing an additional 295 shares in the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Trading Up 0.7 %

Essential Utilities stock opened at $37.05 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. The business’s fifty day simple moving average is $35.89 and its two-hundred day simple moving average is $35.70. Essential Utilities has a 12 month low of $32.07 and a 12 month high of $45.29. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 3.34 and a beta of 0.81.

Essential Utilities (NYSE:WTRGGet Free Report) last posted its quarterly earnings results on Friday, February 23rd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.01. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. The firm had revenue of $479.40 million during the quarter, compared to analysts’ expectations of $708.50 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company’s revenue was down 32.0% on a year-over-year basis. As a group, equities analysts predict that Essential Utilities will post 2 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given a dividend of $0.3071 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s dividend payout ratio is 66.13%.

Essential Utilities Company Profile

(Get Free Report

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.

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