Robert W. Baird Cuts Essential Utilities (NYSE:WTRG) Price Target to $43.00

Essential Utilities (NYSE:WTRG) had its price target lowered by stock analysts at Robert W. Baird from $44.00 to $43.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 13.82% from the company’s current price.

Separately, Evercore ISI cut their price target on shares of Essential Utilities from $51.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Essential Utilities currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Essential Utilities Trading Up 0.3 %

Shares of Essential Utilities stock opened at $37.78 on Monday. The stock has a fifty day simple moving average of $35.86 and a 200 day simple moving average of $35.89. The company has a market capitalization of $10.33 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 3.29 and a beta of 0.80. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 1.13. Essential Utilities has a 12-month low of $32.07 and a 12-month high of $43.74.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Friday, February 23rd. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.49 by $0.01. The firm had revenue of $479.40 million for the quarter, compared to analysts’ expectations of $708.50 million. Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. The company’s quarterly revenue was down 32.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. On average, sell-side analysts anticipate that Essential Utilities will post 2 earnings per share for the current fiscal year.

Insider Buying and Selling at Essential Utilities

In other news, CAO Robert A. Rubin sold 5,565 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 57,756 shares of the company’s stock, valued at $2,149,100.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Robert A. Rubin sold 5,565 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $37.21, for a total transaction of $207,073.65. Following the sale, the chief accounting officer now owns 57,756 shares of the company’s stock, valued at approximately $2,149,100.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Robert A. Rubin sold 2,023 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $36.56, for a total value of $73,960.88. Following the sale, the chief accounting officer now owns 13,358 shares in the company, valued at $488,368.48. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Institutional Trading of Essential Utilities

Several hedge funds and other institutional investors have recently bought and sold shares of WTRG. Texas Permanent School Fund Corp raised its position in Essential Utilities by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 220,054 shares of the company’s stock worth $8,153,000 after purchasing an additional 3,046 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Essential Utilities by 126.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,341 shares of the company’s stock valued at $680,000 after acquiring an additional 10,254 shares during the last quarter. Nordea Investment Management AB increased its stake in Essential Utilities by 17,553.7% in the 1st quarter. Nordea Investment Management AB now owns 3,425,350 shares of the company’s stock worth $126,156,000 after purchasing an additional 3,405,947 shares during the period. Mendel Money Management grew its holdings in shares of Essential Utilities by 202.1% in the first quarter. Mendel Money Management now owns 8,930 shares of the company’s stock worth $331,000 after purchasing an additional 17,675 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Essential Utilities by 21.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 10,196 shares of the company’s stock worth $378,000 after buying an additional 1,818 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.

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.