Essential Utilities, Inc. (NYSE:WTRG) Given Average Recommendation of “Buy” by Brokerages

Shares of Essential Utilities, Inc. (NYSE:WTRG) have been given a consensus rating of “Buy” by the four brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $43.00.

Separately, Evercore ISI cut their price target on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, March 4th.

Essential Utilities Stock Performance

WTRG opened at $35.90 on Tuesday. The firm has a market capitalization of $9.82 billion, a PE ratio of 19.30, a PEG ratio of 3.08 and a beta of 0.82. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 1.16. Essential Utilities has a twelve month low of $32.07 and a twelve month high of $44.05. The firm’s 50-day moving average price is $35.69 and its 200 day moving average price is $35.69.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The business had revenue of $479.40 million during the quarter, compared to the consensus estimate of $708.50 million. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. The company’s revenue for the quarter was down 32.0% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. As a group, sell-side analysts expect that Essential Utilities will post 2 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a dividend of $0.3071 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.42%. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 9th. Essential Utilities’s dividend payout ratio is 66.13%.

Insider Activity at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 5,565 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.21, for a total value of $207,073.65. Following the sale, the chief accounting officer now directly owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Bare Financial Services Inc acquired a new stake in shares of Essential Utilities in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC grew its stake in shares of Essential Utilities by 857.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after purchasing an additional 626 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Essential Utilities by 604.0% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock valued at $27,000 after purchasing an additional 610 shares during the period. Lindbrook Capital LLC grew its position in Essential Utilities by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after buying an additional 325 shares during the period. Finally, Valley National Advisers Inc. increased its holdings in Essential Utilities by 4,210.0% in the fourth quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock valued at $32,000 after buying an additional 842 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

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.