Essential Utilities (NYSE:WTRG) Stock Rating Lowered by Jefferies Financial Group

Jefferies Financial Group lowered shares of Essential Utilities (NYSE:WTRG) from a buy rating to a hold rating in a report published on Thursday, MarketBeat Ratings reports. They currently have $41.00 price objective on the stock, down from their prior price objective of $44.00.

A number of other brokerages also recently weighed in on WTRG. Robert W. Baird boosted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Evercore ISI upped their price objective on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Wells Fargo & Company decreased their target price on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Bank of America reaffirmed a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Essential Utilities Trading Up 1.5 %

NYSE:WTRG opened at $39.67 on Thursday. Essential Utilities has a 52 week low of $33.28 and a 52 week high of $41.78. The firm has a 50-day moving average price of $39.06 and a two-hundred day moving average price of $38.72. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.44 and a current ratio of 0.55. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 3.45 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The company had revenue of $435.30 million during the quarter, compared to the consensus estimate of $416.95 million. During the same period last year, the business posted $0.30 earnings per share. Essential Utilities’s revenue was up 5.8% on a year-over-year basis. On average, equities analysts expect that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.3255 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.30 dividend on an annualized basis and a yield of 3.28%. Essential Utilities’s payout ratio is 65.00%.

Hedge Funds Weigh In On Essential Utilities

Large investors have recently made changes to their positions in the stock. Norden Group LLC purchased a new stake in Essential Utilities during the 1st quarter worth about $209,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Essential Utilities by 24.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,334 shares of the company’s stock worth $782,000 after buying an additional 3,843 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Essential Utilities by 2.8% in the first quarter. Janney Montgomery Scott LLC now owns 140,782 shares of the company’s stock valued at $5,216,000 after acquiring an additional 3,779 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in Essential Utilities by 126.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,341 shares of the company’s stock valued at $680,000 after acquiring an additional 10,254 shares in the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in Essential Utilities by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 220,054 shares of the company’s stock worth $8,153,000 after acquiring an additional 3,046 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.