Essential Utilities (NYSE:WTRG) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Essential Utilities (NYSE:WTRG) in a report published on Monday, Marketbeat reports. The brokerage issued a buy rating and a $44.00 price target on the stock.

Several other equities research analysts have also recently issued reports on WTRG. Robert W. Baird lifted their price objective on shares of Essential Utilities from $43.00 to $45.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an overweight rating in a research note on Wednesday, July 31st. Evercore ISI lifted their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an outperform rating in a research note on Thursday, August 8th. Finally, Bank of America reiterated a buy rating and set a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $44.80.

Essential Utilities Stock Performance

Shares of WTRG stock opened at $38.45 on Monday. The stock has a market capitalization of $10.52 billion, a PE ratio of 18.76, a P/E/G ratio of 3.35 and a beta of 0.84. The firm has a 50 day moving average of $39.08 and a two-hundred day moving average of $38.14. Essential Utilities has a 52 week low of $32.42 and a 52 week high of $41.78. The company has a quick ratio of 0.44, a current ratio of 0.58 and a debt-to-equity ratio of 1.14.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Monday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $434.40 million for the quarter, compared to analysts’ expectations of $442.76 million. Essential Utilities had a return on equity of 8.16% and a net margin of 28.74%. Essential Utilities’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the firm posted $0.34 earnings per share. On average, research analysts predict that Essential Utilities will post 1.99 EPS for the current fiscal year.

Essential Utilities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were paid a $0.3255 dividend. The ex-dividend date of this dividend was Monday, August 12th. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.31. This represents a $1.30 dividend on an annualized basis and a yield of 3.39%. Essential Utilities’s payout ratio is currently 63.41%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Kingswood Wealth Advisors LLC increased its stake in shares of Essential Utilities by 4.5% during the second quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company’s stock worth $259,000 after acquiring an additional 297 shares during the period. Sanibel Captiva Trust Company Inc. increased its stake in shares of Essential Utilities by 5.4% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 6,491 shares of the company’s stock worth $240,000 after acquiring an additional 334 shares during the period. Meeder Advisory Services Inc. increased its stake in shares of Essential Utilities by 5.5% during the first quarter. Meeder Advisory Services Inc. now owns 6,506 shares of the company’s stock worth $241,000 after acquiring an additional 339 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Essential Utilities by 8.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,416 shares of the company’s stock worth $165,000 after acquiring an additional 352 shares during the period. Finally, First Affirmative Financial Network increased its stake in shares of Essential Utilities by 5.1% during the first quarter. First Affirmative Financial Network now owns 7,910 shares of the company’s stock worth $293,000 after acquiring an additional 386 shares during the period. 74.78% of the stock is currently owned by institutional investors and hedge funds.

Essential Utilities Company Profile

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.