Essential Utilities (NYSE:WTRG) PT Lowered to $43.00

Essential Utilities (NYSE:WTRG) had its price target reduced by research analysts at Robert W. Baird from $44.00 to $43.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 11.20% from the company’s previous close.

Separately, Evercore ISI dropped their price objective on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, Essential Utilities currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Essential Utilities Stock Up 1.0 %

NYSE:WTRG opened at $38.67 on Monday. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 3.29 and a beta of 0.80. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 1.13. The stock has a 50-day moving average price of $36.02 and a two-hundred day moving average price of $35.97. Essential Utilities has a 1 year low of $32.07 and a 1 year high of $43.74.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings data on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. The business had revenue of $479.40 million during the quarter, compared to analyst estimates of $708.50 million. Essential Utilities had a return on equity of 8.62% and a net margin of 29.52%. Essential Utilities’s quarterly revenue was down 32.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 EPS. As a group, equities analysts expect that Essential Utilities will post 2 earnings per share for the current year.

Insider Transactions at Essential Utilities

In other Essential Utilities news, CAO Robert A. Rubin sold 5,565 shares of Essential Utilities stock in a transaction 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 in the company, valued at approximately $2,149,100.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Robert A. Rubin sold 2,023 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total transaction of $73,960.88. Following the sale, the chief accounting officer now owns 13,358 shares in the company, valued at approximately $488,368.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Robert A. Rubin sold 5,565 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $37.21, for a total transaction of $207,073.65. Following the completion of the transaction, the chief accounting officer now directly owns 57,756 shares of the company’s stock, valued at $2,149,100.76. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Institutional Trading of Essential Utilities

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its position in shares of Essential Utilities by 53.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 45,331 shares of the company’s stock valued at $1,556,000 after buying an additional 15,811 shares during the last quarter. Raymond James & Associates lifted its holdings in Essential Utilities by 35.8% during the 3rd quarter. Raymond James & Associates now owns 157,440 shares of the company’s stock valued at $5,405,000 after purchasing an additional 41,494 shares during the last quarter. Forsta AP Fonden boosted its position in Essential Utilities by 25.2% during the third quarter. Forsta AP Fonden now owns 71,000 shares of the company’s stock worth $2,437,000 after purchasing an additional 14,300 shares during the period. New York State Teachers Retirement System increased its holdings in shares of Essential Utilities by 6.2% in the third quarter. New York State Teachers Retirement System now owns 317,086 shares of the company’s stock valued at $10,886,000 after purchasing an additional 18,382 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in shares of Essential Utilities by 2.6% in the third quarter. IFM Investors Pty Ltd now owns 92,851 shares of the company’s stock valued at $3,188,000 after purchasing an additional 2,369 shares during the period. 74.78% of the stock is owned by institutional investors.

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.