Essential Utilities (NYSE:WTRG) Updates FY 2022 Earnings Guidance

Essential Utilities (NYSE:WTRGGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided earnings per share guidance of $1.75-$1.80 for the period, compared to the consensus earnings per share estimate of $1.79. The company issued revenue guidance of -.Essential Utilities also updated its FY22 guidance to $1.75-1.80 EPS.

Several research analysts have recently weighed in on the company. Evercore ISI upgraded Essential Utilities from an in-line rating to an outperform rating and boosted their target price for the stock from $52.00 to $53.00 in a report on Thursday, March 10th. HSBC lowered Essential Utilities from a buy rating to a hold rating and set a $53.00 price objective on the stock. in a research note on Friday, April 8th. They noted that the move was a valuation call. Wells Fargo & Company raised their target price on Essential Utilities from $50.00 to $53.00 and gave the stock an overweight rating in a research note on Tuesday, April 19th. StockNews.com cut shares of Essential Utilities from a hold rating to a sell rating in a research report on Wednesday, April 13th. Finally, Zacks Investment Research raised shares of Essential Utilities from a sell rating to a hold rating and set a $49.00 target price on the stock in a research note on Wednesday, April 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $52.00.

Shares of WTRG stock traded down $0.66 during midday trading on Monday, hitting $43.95. The company had a trading volume of 7,633 shares, compared to its average volume of 1,173,264. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 4.13 and a beta of 0.70. The company’s 50 day simple moving average is $48.46 and its 200 day simple moving average is $48.63. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.65 and a quick ratio of 0.49. Essential Utilities has a 52-week low of $44.06 and a 52-week high of $53.93.

Essential Utilities (NYSE:WTRGGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The company reported $0.44 EPS for the quarter. Essential Utilities had a net margin of 22.98% and a return on equity of 8.65%. The firm had revenue of $535.69 million during the quarter. During the same quarter in the previous year, the business earned $0.46 EPS. Analysts anticipate that Essential Utilities will post 1.78 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be issued a dividend of $0.268 per share. This represents a $1.07 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, May 12th. Essential Utilities’s dividend payout ratio is currently 64.07%.

A number of institutional investors have recently modified their holdings of the business. OLD Mission Capital LLC acquired a new position in shares of Essential Utilities during the 3rd quarter worth $1,063,000. Cubist Systematic Strategies LLC raised its stake in shares of Essential Utilities by 31.6% in the 4th quarter. Cubist Systematic Strategies LLC now owns 43,870 shares of the company’s stock valued at $2,355,000 after acquiring an additional 10,528 shares during the period. Sei Investments Co. grew its stake in shares of Essential Utilities by 6.5% in the fourth quarter. Sei Investments Co. now owns 157,878 shares of the company’s stock valued at $8,478,000 after buying an additional 9,684 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Essential Utilities by 81.5% during the 4th quarter. Advisors Asset Management Inc. now owns 4,883 shares of the company’s stock worth $262,000 after buying an additional 2,192 shares during the period. Finally, Metropolitan Life Insurance Co NY boosted its holdings in Essential Utilities by 13.1% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 41,163 shares of the company’s stock valued at $2,210,000 after purchasing an additional 4,779 shares during the last quarter. 70.30% of the stock is owned by institutional investors.

About Essential Utilities (Get Rating)

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. It offers water services through operating and maintenance contract with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through a third-party.

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Earnings History and Estimates for Essential Utilities (NYSE:WTRG)

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