Essential Utilities (NYSE:WTRG) Given New $42.00 Price Target at UBS Group

Essential Utilities (NYSE:WTRG) had its price objective reduced by equities researchers at UBS Group from $45.00 to $42.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 21.77% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of Essential Utilities from a “buy” rating to a “hold” rating and cut their price objective for the company from $44.00 to $41.00 in a report on Thursday, November 7th. Robert W. Baird raised their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Bank of America reiterated a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a report on Friday, September 20th. Finally, Wells Fargo & Company cut Essential Utilities from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $43.00 to $39.00 in a report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Essential Utilities Stock Up 1.1 %

Shares of WTRG opened at $34.49 on Tuesday. The business’s fifty day moving average price is $37.85 and its two-hundred day moving average price is $38.75. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 3.06 and a beta of 0.86. Essential Utilities has a 52 week low of $33.18 and a 52 week high of $41.78. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $435.30 million for the quarter, compared to analysts’ expectations of $416.95 million. Essential Utilities had a return on equity of 7.89% and a net margin of 27.84%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. On average, analysts predict that Essential Utilities will post 2.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HB Wealth Management LLC raised its position in shares of Essential Utilities by 8.5% during the fourth quarter. HB Wealth Management LLC now owns 10,919 shares of the company’s stock worth $397,000 after purchasing an additional 856 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in Essential Utilities by 0.9% during the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 201,926 shares of the company’s stock worth $7,334,000 after purchasing an additional 1,719 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in Essential Utilities by 2.8% during the 4th quarter. Hennessy Advisors Inc. now owns 175,500 shares of the company’s stock worth $6,374,000 after buying an additional 4,800 shares during the period. Assenagon Asset Management S.A. lifted its stake in Essential Utilities by 219.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 122,581 shares of the company’s stock valued at $4,452,000 after buying an additional 84,208 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Essential Utilities by 28.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 60,605 shares of the company’s stock valued at $2,338,000 after buying an additional 13,518 shares during the period. 74.78% of the stock is currently owned by institutional investors.

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.