Essential Utilities (NYSE:WTRG) Updates FY 2024 Earnings Guidance

Essential Utilities (NYSE:WTRG) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 1.960-2.000 for the period, compared to the consensus estimate of 2.030. The company issued revenue guidance of -. Essential Utilities also updated its FY 2025 guidance to 2.070-2.110 EPS.

Essential Utilities Trading Up 0.9 %

NYSE WTRG traded up $0.36 during trading on Wednesday, hitting $40.48. The company had a trading volume of 1,064,472 shares, compared to its average volume of 1,526,898. The company’s fifty day moving average is $39.01 and its 200-day moving average is $38.66. Essential Utilities has a one year low of $33.28 and a one year high of $41.78. The company has a current ratio of 0.58, a quick ratio of 0.44 and a debt-to-equity ratio of 1.14. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. Essential Utilities had a return on equity of 7.94% and a net margin of 27.84%. The company had revenue of $435.30 million for the quarter, compared to analysts’ expectations of $416.95 million. During the same period in the prior year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Essential Utilities will post 1.99 earnings per share for the current year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.3255 per share. This represents a $1.30 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date is Tuesday, November 12th. Essential Utilities’s payout ratio is 65.00%.

Wall Street Analysts Forecast Growth

WTRG has been the subject of several analyst reports. Evercore ISI raised their price target on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Robert W. Baird lifted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday. Bank of America reiterated a “buy” rating and set a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Jefferies Financial Group initiated coverage on shares of Essential Utilities in a report on Monday, October 7th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.60.

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.