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

Shares of Essential Utilities Inc. (NYSE:WTRG) have been given an average rating of “Hold” by the ten analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $43.2857.

A number of equities analysts have commented on WTRG shares. UBS Group reaffirmed a “neutral” rating and set a $45.00 price objective (down from $46.00) on shares of Essential Utilities in a research report on Tuesday, October 28th. Robert W. Baird downgraded shares of Essential Utilities from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Barclays set a $38.00 price target on shares of Essential Utilities and gave the company an “underweight” rating in a report on Wednesday, December 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Essential Utilities in a report on Monday, December 29th. Finally, Janney Montgomery Scott downgraded Essential Utilities from a “buy” rating to a “neutral” rating in a research report on Monday, October 27th.

Essential Utilities Stock Performance

Shares of NYSE WTRG opened at $38.65 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $10.94 billion, a P/E ratio of 16.04 and a beta of 0.81. Essential Utilities has a 12 month low of $35.96 and a 12 month high of $42.37. The stock has a 50 day moving average of $38.66 and a 200-day moving average of $38.98.

Essential Utilities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.3426 per share. The ex-dividend date is Tuesday, May 12th. This represents a $1.37 annualized dividend and a yield of 3.5%. Essential Utilities’s dividend payout ratio (DPR) is presently 56.85%.

Hedge Funds Weigh In On Essential Utilities

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

About Essential Utilities

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.