Essential Utilities, Inc. (NYSE:WTRG) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Essential Utilities, Inc. (NYSE:WTRG) have been given a consensus recommendation of “Buy” by the four brokerages that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have covered the stock in the last year is $43.00.

Separately, Evercore ISI reduced their price objective 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 company’s stock in a transaction on Monday, April 1st. The shares were 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 owns 57,756 shares in the company, valued at approximately $2,149,100.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Essential Utilities

Institutional investors have recently bought and sold shares of the company. Bare Financial Services Inc acquired a new position in Essential Utilities in the 4th quarter valued at $25,000. Tradewinds Capital Management LLC grew its stake in shares of Essential Utilities by 857.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 699 shares of the company’s stock worth $26,000 after purchasing an additional 626 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Essential Utilities by 604.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 711 shares of the company’s stock worth $27,000 after purchasing an additional 610 shares during the period. Lindbrook Capital LLC grew its stake in shares of Essential Utilities by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after purchasing an additional 325 shares during the period. Finally, Valley National Advisers Inc. grew its stake in shares of Essential Utilities by 4,210.0% during the 4th quarter. Valley National Advisers Inc. now owns 862 shares of the company’s stock worth $32,000 after purchasing an additional 842 shares during the period. 74.78% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Trading Down 1.3 %

NYSE WTRG opened at $36.09 on Tuesday. The stock has a market capitalization of $9.87 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 3.18 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 has a 52 week low of $32.07 and a 52 week high of $43.74. The firm has a 50 day moving average of $35.74 and a two-hundred day moving average of $35.75.

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

Essential Utilities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 10th will be given 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 annualized dividend and a yield of 3.40%. Essential Utilities’s dividend payout ratio is 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.