Essential Utilities (NYSE:WTRG) Cut to “Sell” at StockNews.com

Essential Utilities (NYSE:WTRG) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other equities research analysts have also recently weighed in on WTRG. Evercore ISI upped their price target on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Wells Fargo & Company upped their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Tuesday, January 28th. Finally, UBS Group decreased their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $39.27 on Friday. The firm’s 50 day moving average is $37.92 and its 200 day moving average is $37.83. The stock has a market capitalization of $10.82 billion, a P/E ratio of 19.63, a PEG ratio of 2.57 and a beta of 0.80. Essential Utilities has a 12 month low of $33.18 and a 12 month high of $41.78. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. On average, sell-side analysts anticipate that Essential Utilities will post 1.99 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Synergy Asset Management LLC boosted its holdings in shares of Essential Utilities by 92.8% in the 4th quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock worth $5,529,000 after purchasing an additional 71,222 shares in the last quarter. Nordea Investment Management AB lifted its position in Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock worth $247,134,000 after buying an additional 972,803 shares during the last quarter. Brighton Jones LLC purchased a new stake in Essential Utilities in the fourth quarter worth approximately $638,000. JPMorgan Chase & Co. grew its position in Essential Utilities by 33.1% during the third quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company’s stock valued at $36,795,000 after acquiring an additional 237,096 shares during the last quarter. Finally, RWC Asset Management LLP purchased a new position in shares of Essential Utilities during the fourth quarter worth approximately $2,119,000. Institutional investors own 74.78% of the company’s stock.

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.