Essential Utilities Inc. (NYSE:WTRG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Essential Utilities Inc. (NYSE:WTRG) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $43.80.

A number of equities analysts recently issued reports on the company. Barclays increased their target price on Essential Utilities from $38.00 to $40.00 and gave the stock an “underweight” rating in a report on Wednesday. Weiss Ratings restated a “hold (c+)” rating on shares of Essential Utilities in a research note on Friday, May 22nd. Argus upgraded shares of Essential Utilities to a “strong-buy” rating in a report on Monday, March 23rd. UBS Group raised their price objective on shares of Essential Utilities from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Finally, Wall Street Zen upgraded shares of Essential Utilities to a “sell” rating in a report on Saturday, July 4th.

Essential Utilities Stock Up 0.6%

Essential Utilities stock opened at $39.69 on Friday. The company has a market capitalization of $11.26 billion, a PE ratio of 20.15 and a beta of 0.65. Essential Utilities has a 12-month low of $36.10 and a 12-month high of $42.37. The firm’s fifty day moving average is $37.70 and its 200 day moving average is $38.78. The company has a quick ratio of 0.84, a current ratio of 0.95 and a debt-to-equity ratio of 1.21.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.07). Essential Utilities had a return on equity of 8.34% and a net margin of 21.82%.The company had revenue of $861.76 million during the quarter, compared to analyst estimates of $782.90 million. During the same quarter in the previous year, the business posted $1.03 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, sell-side analysts predict that Essential Utilities will post 2.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Essential Utilities

Several large investors have recently added to or reduced their stakes in the business. Pekao Towarzystwo Funduszy Inwestycyjnych S.A. purchased a new position in shares of Essential Utilities in the 4th quarter worth approximately $3,547,000. A. D. Beadell Investment Counsel Inc. purchased a new stake in shares of Essential Utilities during the fourth quarter valued at approximately $1,432,000. Perigon Wealth Management LLC purchased a new stake in shares of Essential Utilities during the fourth quarter valued at approximately $958,000. Brighton Jones LLC bought a new stake in Essential Utilities during the fourth quarter worth $638,000. Finally, Versor Investments LP bought a new stake in Essential Utilities during the fourth quarter worth $1,430,000. Institutional investors own 74.78% of the company’s stock.

About Essential Utilities

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.