Robert W. Baird Cuts Essential Utilities (NYSE:WTRG) Price Target to $50.00

Essential Utilities (NYSE:WTRGGet Rating) had its price target decreased by analysts at Robert W. Baird from $53.00 to $50.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Robert W. Baird’s target price suggests a potential upside of 15.15% from the stock’s previous close.

A number of other brokerages have also recently issued reports on WTRG. HSBC cut Essential Utilities from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research note on Friday, April 8th. They noted that the move was a valuation call. Evercore ISI raised Essential Utilities from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $52.00 to $53.00 in a report on Thursday, March 10th. StockNews.com lowered Essential Utilities from a “hold” rating to a “sell” rating in a report on Wednesday, April 13th. Wells Fargo & Company lifted their target price on Essential Utilities from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, April 19th. Finally, Zacks Investment Research raised Essential Utilities from a “sell” rating to a “hold” rating and set a $49.00 target price for the company in a report on Wednesday, April 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Essential Utilities currently has an average rating of “Hold” and a consensus price target of $51.67.

WTRG opened at $43.42 on Tuesday. The business has a 50 day moving average of $48.40 and a 200-day moving average of $48.60. The stock has a market cap of $10.99 billion, a PE ratio of 26.00, a PEG ratio of 4.13 and a beta of 0.70. Essential Utilities has a 52 week low of $43.20 and a 52 week high of $53.93. The company has a quick ratio of 0.49, a current ratio of 0.65 and a debt-to-equity ratio of 1.11.

Essential Utilities (NYSE:WTRGGet Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $699.30 million during the quarter, compared to analysts’ expectations of $617.07 million. Essential Utilities had a return on equity of 8.65% and a net margin of 22.98%. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. Equities analysts anticipate that Essential Utilities will post 1.78 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Hazlett Burt & Watson Inc. bought a new stake in shares of Essential Utilities in the first quarter worth $25,000. Sageworth Trust Co of South Dakota bought a new stake in shares of Essential Utilities in the fourth quarter worth $26,000. Newbridge Financial Services Group Inc. grew its holdings in Essential Utilities by 191.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 522 shares of the company’s stock valued at $28,000 after purchasing an additional 343 shares during the period. FSB Premier Wealth Management Inc. bought a new stake in Essential Utilities during the fourth quarter valued at about $29,000. Finally, Concord Wealth Partners purchased a new position in Essential Utilities in the 4th quarter worth $31,000. 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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