Essential Utilities Inc. (NYSE:WTRG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Essential Utilities Inc. (NYSE:WTRG) have been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $42.80.

A number of analysts have commented on the company. UBS Group raised Essential Utilities from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $41.00 to $43.00 in a research report on Friday, May 29th. Argus raised Essential Utilities to a “strong-buy” rating in a research report on Monday, March 23rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Essential Utilities in a report on Friday, May 22nd.

Essential Utilities Stock Performance

Shares of WTRG opened at $36.75 on Friday. The stock has a 50-day moving average of $38.68 and a two-hundred day moving average of $38.92. Essential Utilities has a one year low of $36.10 and a one year high of $42.37. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.84 and a current ratio of 0.95. The stock has a market cap of $10.42 billion, a P/E ratio of 18.65 and a beta of 0.66.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.07). Essential Utilities had a return on equity of 8.34% and a net margin of 21.82%.The firm had revenue of $861.76 million for the quarter, compared to analyst estimates of $782.90 million. During the same period in the prior year, the firm posted $1.03 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts predict that Essential Utilities will post 2.22 EPS for the current year.

Hedge Funds Weigh In On Essential Utilities

Institutional investors and hedge funds have recently modified their holdings of the stock. GoalVest Advisory LLC acquired a new position in shares of Essential Utilities in the 4th quarter valued at about $25,000. Fideuram Asset Management Ireland dac acquired a new position in shares of Essential Utilities in the 4th quarter valued at about $27,000. Evolution Wealth Management Inc. acquired a new position in shares of Essential Utilities in the 1st quarter valued at about $27,000. Atlantic Union Bankshares Corp lifted its holdings in shares of Essential Utilities by 1,163.8% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 733 shares of the company’s stock valued at $29,000 after buying an additional 675 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Essential Utilities in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

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.