Essential Utilities (NYSE:WTRG) Stock Price Expected to Rise, Argus Analyst Says

Essential Utilities (NYSE:WTRG) had its price target hoisted by equities researchers at Argus from $45.00 to $50.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Argus‘s target price would indicate a potential upside of 12.26% from the stock’s previous close.

Several other equities analysts have also commented on WTRG. UBS Group lowered their target price on Essential Utilities from $49.00 to $47.00 and set a “buy” rating for the company in a report on Friday, October 16th. Barclays increased their price target on Essential Utilities from $38.00 to $40.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings raised Essential Utilities from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 22nd. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Essential Utilities has a consensus rating of “Moderate Buy” and a consensus price target of $44.75.

Essential Utilities Trading Down 1.4%

NYSE WTRG opened at $44.54 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.30 and a current ratio of 0.40. Essential Utilities has a one year low of $36.10 and a one year high of $46.36. The company has a 50-day simple moving average of $41.34 and a 200-day simple moving average of $39.62. The firm has a market capitalization of $12.76 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 3.39 and a beta of 0.62.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.05. Essential Utilities had a net margin of 21.79% and a return on equity of 8.36%. The firm had revenue of $508.26 million for the quarter, compared to analyst estimates of $450.44 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. Essential Utilities’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities analysts forecast that Essential Utilities will post 2.21 earnings per share for the current year.

Institutional Trading of Essential Utilities

A number of large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Essential Utilities in the 3rd quarter valued at about $26,000. Root Financial Partners LLC bought a new position in Essential Utilities in the 3rd quarter worth about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Essential Utilities in the 2nd quarter worth about $33,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Essential Utilities in the first quarter valued at approximately $40,000. Finally, Orion Capital Management LLC acquired a new stake in shares of Essential Utilities in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 74.78% of the company’s stock.

About Essential Utilities

Essential Utilities, Inc. is a regulated utility company that provides water and wastewater services through its Aqua operations and natural gas distribution through Peoples Natural Gas. Its services include treating and delivering drinking water, collecting and treating wastewater, and supplying natural gas to homes and businesses. The company traces its water utility roots to the Springfield Water Company, founded in Pennsylvania in 1886. It adopted the Essential Utilities name in 2020, following its acquisition of Peoples Natural Gas and the expansion of its business beyond water and wastewater services.