Essential Utilities (NYSE:WTRG) Upgraded at StockNews.com

StockNews.com upgraded shares of Essential Utilities (NYSE:WTRG) from a sell rating to a hold rating in a report released on Friday.

Several other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Jefferies Financial Group upgraded 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. Evercore ISI increased their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Finally, UBS Group lowered their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.50.

Essential Utilities Stock Down 2.5 %

Shares of NYSE WTRG opened at $39.62 on Friday. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 2.57 and a beta of 0.80. The company’s 50-day simple moving average is $37.56 and its 200-day simple moving average is $37.83. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. Essential Utilities has a 52-week low of $33.18 and a 52-week high of $41.78.

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

Essential Utilities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 annualized dividend and a dividend yield of 3.29%. Essential Utilities’s dividend payout ratio (DPR) is 59.91%.

Institutional Trading of Essential Utilities

Several institutional investors have recently made changes to their positions in WTRG. California State Teachers Retirement System raised its position in Essential Utilities by 12.5% in the fourth quarter. California State Teachers Retirement System now owns 953,574 shares of the company’s stock valued at $34,634,000 after purchasing an additional 105,590 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Essential Utilities by 35.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 63,630 shares of the company’s stock worth $2,311,000 after purchasing an additional 16,543 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Essential Utilities in the 4th quarter valued at about $3,026,000. Siemens Fonds Invest GmbH acquired a new position in Essential Utilities in the fourth quarter valued at about $49,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Essential Utilities during the fourth quarter worth about $7,511,000. Hedge funds and other institutional investors 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.