Essential Utilities Inc. (NYSE:WTRG) Given Consensus Rating of “Hold” by Analysts

Essential Utilities Inc. (NYSE:WTRG) has been given a consensus rating of “Hold” by the ten ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $43.2857.

WTRG has been the subject of a number of analyst reports. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and cut their price objective for the company from $47.00 to $44.00 in a research report on Tuesday, October 28th. Northcoast Research upgraded shares of Essential Utilities from a “neutral” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Wednesday, December 3rd. UBS Group reissued a “neutral” rating and issued a $45.00 price target (down from $46.00) on shares of Essential Utilities in a report on Tuesday, October 28th. Janney Montgomery Scott lowered shares of Essential Utilities from a “buy” rating to a “neutral” rating in a research report on Monday, October 27th. Finally, Zacks Research upgraded Essential Utilities from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 21st.

Institutional Investors Weigh In On Essential Utilities

A number of institutional investors and hedge funds have recently bought and sold shares of WTRG. Apella Capital LLC boosted its holdings in Essential Utilities by 3.2% in the third quarter. Apella Capital LLC now owns 8,346 shares of the company’s stock worth $345,000 after acquiring an additional 259 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ increased its holdings in shares of Essential Utilities by 0.3% during the fourth quarter. Lansforsakringar Fondforvaltning AB publ now owns 83,188 shares of the company’s stock valued at $3,191,000 after acquiring an additional 262 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Essential Utilities by 1.4% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 18,930 shares of the company’s stock valued at $703,000 after purchasing an additional 267 shares during the last quarter. Asset Management One Co. Ltd. raised its position in shares of Essential Utilities by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 104,188 shares of the company’s stock valued at $4,157,000 after purchasing an additional 271 shares during the last quarter. Finally, First Citizens Bank & Trust Co. boosted its stake in Essential Utilities by 2.3% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 13,036 shares of the company’s stock worth $520,000 after purchasing an additional 287 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Stock Performance

Shares of WTRG opened at $39.58 on Wednesday. Essential Utilities has a 52-week low of $34.85 and a 52-week high of $42.37. The stock’s 50-day simple moving average is $38.58 and its 200 day simple moving average is $38.96. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.43 and a current ratio of 0.60. The stock has a market capitalization of $11.20 billion, a price-to-earnings ratio of 16.42 and a beta of 0.81.

Essential Utilities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 9th will be issued a $0.3426 dividend. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.37 annualized dividend and a dividend yield of 3.5%. Essential Utilities’s dividend payout ratio (DPR) is presently 56.85%.

Essential Utilities Company Profile

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.