Analysts Set Essential Utilities, Inc. (NYSE:WTRG) PT at $43.00

Shares of Essential Utilities, Inc. (NYSE:WTRG) have earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $43.00.

WTRG has been the subject of several recent analyst reports. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, January 28th. Robert W. Baird raised their price objective on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Wells Fargo & Company downgraded Essential Utilities from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $43.00 to $39.00 in a report on Tuesday, January 7th. Finally, UBS Group decreased their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 14th.

Hedge Funds Weigh In On Essential Utilities

A number of hedge funds have recently added to or reduced their stakes in WTRG. Cetera Investment Advisers raised its holdings in Essential Utilities by 5.8% during the second quarter. Cetera Investment Advisers now owns 51,561 shares of the company’s stock valued at $1,925,000 after buying an additional 2,811 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Essential Utilities in the 2nd quarter valued at approximately $630,000. Atomi Financial Group Inc. lifted its holdings in Essential Utilities by 6.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 9,400 shares of the company’s stock worth $363,000 after purchasing an additional 557 shares during the last quarter. CWM LLC lifted its holdings in Essential Utilities by 13.2% in the 3rd quarter. CWM LLC now owns 11,995 shares of the company’s stock worth $463,000 after purchasing an additional 1,397 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Essential Utilities by 991.1% during the third quarter. UMB Bank n.a. now owns 1,964 shares of the company’s stock worth $76,000 after purchasing an additional 1,784 shares during the period. Institutional investors and hedge funds own 74.78% of the company’s stock.

Essential Utilities Stock Up 1.0 %

Shares of NYSE:WTRG opened at $35.75 on Friday. Essential Utilities has a 52 week low of $33.18 and a 52 week high of $41.78. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. The company has a market cap of $9.82 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.53 and a beta of 0.86. The firm has a 50 day simple moving average of $36.06 and a 200 day simple moving average of $38.16.

Essential Utilities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a dividend of $0.3255 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.64%. Essential Utilities’s dividend payout ratio is 65.00%.

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.