Essential Utilities, Inc. (NYSE:WTRG) Given Average Rating of “Buy” by Brokerages

Shares of Essential Utilities, Inc. (NYSE:WTRG) have earned an average rating of “Buy” from the four research firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $43.00.

Separately, Evercore ISI dropped their target price on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, March 4th.

Insider Activity at Essential Utilities

In related news, CAO Robert A. Rubin sold 5,565 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $37.21, for a total value of $207,073.65. Following the completion of the sale, the chief accounting officer now directly owns 57,756 shares in the company, valued at $2,149,100.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.21% of the stock is owned by insiders.

Institutional Trading of Essential Utilities

Several institutional investors and hedge funds have recently modified their holdings of WTRG. Commonwealth Equity Services LLC raised its position in shares of Essential Utilities by 5.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 268,251 shares of the company’s stock worth $9,939,000 after acquiring an additional 13,803 shares in the last quarter. Greenleaf Trust increased its position in shares of Essential Utilities by 18.4% during the first quarter. Greenleaf Trust now owns 7,449 shares of the company’s stock worth $276,000 after purchasing an additional 1,156 shares in the last quarter. Principal Financial Group Inc. raised its stake in Essential Utilities by 3.1% in the first quarter. Principal Financial Group Inc. now owns 1,120,066 shares of the company’s stock valued at $41,498,000 after buying an additional 33,329 shares during the last quarter. First Personal Financial Services boosted its holdings in Essential Utilities by 1.1% in the first quarter. First Personal Financial Services now owns 43,674 shares of the company’s stock worth $1,618,000 after acquiring an additional 478 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake in shares of Essential Utilities by 0.5% during the first quarter. New York State Teachers Retirement System now owns 320,500 shares of the company’s stock worth $11,875,000 after acquiring an additional 1,502 shares during the last quarter. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Price Performance

NYSE:WTRG opened at $36.46 on Tuesday. The business’s 50-day simple moving average is $35.75 and its two-hundred day simple moving average is $35.79. Essential Utilities has a 52 week low of $32.07 and a 52 week high of $43.74. The stock has a market cap of $9.97 billion, a PE ratio of 19.60, a P/E/G ratio of 3.15 and a beta of 0.82. The company has a quick ratio of 0.48, a current ratio of 0.62 and a debt-to-equity ratio of 1.16.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. Essential Utilities had a return on equity of 8.68% and a net margin of 24.26%. The company had revenue of $479.40 million for the quarter, compared to the consensus estimate of $708.50 million. During the same quarter last year, the company earned $0.44 EPS. The firm’s quarterly revenue was down 32.0% on a year-over-year basis. As a group, analysts forecast that Essential Utilities will post 2 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 10th will be paid a $0.3071 dividend. This is an increase from Essential Utilities’s previous quarterly dividend of $0.31. The ex-dividend date is Thursday, May 9th. This represents a $1.23 dividend on an annualized basis and a yield of 3.37%. Essential Utilities’s payout ratio is presently 66.13%.

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.