Essential Utilities (NYSE:WTRG) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Essential Utilities (NYSE:WTRG) had its target price increased by investment analysts at Robert W. Baird from $45.00 to $46.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 17.60% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Jefferies Financial Group initiated coverage on Essential Utilities in a report on Monday, October 7th. They issued a “buy” rating and a $44.00 price target on the stock. Bank of America reissued a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a research note on Friday, September 20th. Evercore ISI increased their price objective on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company dropped their price objective 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, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Essential Utilities Trading Down 3.1 %

Shares of NYSE WTRG opened at $39.12 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.44 and a current ratio of 0.58. The business’s 50 day moving average price is $39.03 and its 200-day moving average price is $38.67. Essential Utilities has a fifty-two week low of $33.28 and a fifty-two week high of $41.78. The company has a market cap of $10.70 billion, a price-to-earnings ratio of 19.56, a PEG 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 firm had revenue of $435.30 million for the quarter, compared to the consensus estimate of $416.95 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that Essential Utilities will post 1.99 earnings per share for the current year.

Institutional Trading of Essential Utilities

Several hedge funds and other institutional investors have recently bought and sold shares of WTRG. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Essential Utilities by 4.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 558,821 shares of the company’s stock valued at $20,704,000 after acquiring an additional 25,812 shares in the last quarter. Norden Group LLC bought a new stake in Essential Utilities during the 1st quarter valued at $209,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Essential Utilities by 24.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,334 shares of the company’s stock valued at $782,000 after acquiring an additional 3,843 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Essential Utilities by 2.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 140,782 shares of the company’s stock valued at $5,216,000 after acquiring an additional 3,779 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in Essential Utilities by 126.8% during 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 in the last quarter. Institutional investors own 74.78% of the company’s stock.

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.