Robert W. Baird Trims Essential Utilities (NYSE:WTRG) Target Price to $43.00

Essential Utilities (NYSE:WTRG) had its target price decreased by Robert W. Baird from $44.00 to $43.00 in a research report released on Monday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Separately, Evercore ISI lowered their target price on Essential Utilities from $51.00 to $42.00 and set an outperform rating on the stock in a report on Monday, March 4th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Essential Utilities has an average rating of Moderate Buy and an average target price of $43.00.

Essential Utilities Stock Performance

NYSE WTRG opened at $38.69 on Monday. Essential Utilities has a 1-year low of $32.07 and a 1-year high of $43.74. The company has a market capitalization of $10.58 billion, a P/E ratio of 18.34, a PEG ratio of 3.29 and a beta of 0.80. The business has a 50 day moving average price of $36.02 and a 200 day moving average price of $35.97. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.62 and a quick ratio of 0.48.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Friday, February 23rd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.01. The firm had revenue of $479.40 million during the quarter, compared to the consensus estimate of $708.50 million. Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. Essential Utilities’s quarterly revenue was down 32.0% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. Sell-side analysts expect that Essential Utilities will post 2 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be issued a dividend of $0.3071 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.17%. 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 58.29%.

Insider Transactions at Essential Utilities

In other news, CAO Robert A. Rubin sold 5,565 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.21, for a total transaction of $207,073.65. Following the sale, the chief accounting officer now owns 57,756 shares in the company, valued at $2,149,100.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Robert A. Rubin sold 5,565 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.21, for a total transaction of $207,073.65. Following the sale, the chief accounting officer now owns 57,756 shares in the company, valued at $2,149,100.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert A. Rubin sold 2,023 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total value of $73,960.88. Following the sale, the chief accounting officer now owns 13,358 shares in the company, valued at approximately $488,368.48. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Bare Financial Services Inc purchased a new position in shares of Essential Utilities in the 4th quarter worth $25,000. Tradewinds Capital Management LLC raised its position in shares of Essential Utilities by 857.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after buying an additional 626 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Essential Utilities by 604.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock valued at $27,000 after purchasing an additional 610 shares during the period. Lindbrook Capital LLC raised its position in Essential Utilities by 78.9% in the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock valued at $28,000 after purchasing an additional 325 shares during the period. Finally, Valley National Advisers Inc. raised its position in Essential Utilities by 4,210.0% in the fourth quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock valued at $32,000 after purchasing an additional 842 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

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.