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

Shares of Essential Utilities Inc. (NYSE:WTRG) have earned a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $43.00.

WTRG has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Essential Utilities to a “sell” rating in a report on Saturday, July 4th. UBS Group raised their target price on shares of Essential Utilities from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Barclays lifted their target price on shares of Essential Utilities from $38.00 to $40.00 and gave the company an “underweight” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings raised shares of Essential Utilities from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday.

Essential Utilities Trading Down 0.3%

Shares of WTRG opened at $41.73 on Friday. The stock has a market capitalization of $11.84 billion, a P/E ratio of 21.29, a PEG ratio of 3.14 and a beta of 0.64. The firm has a fifty day simple moving average of $39.84 and a two-hundred day simple moving average of $39.20. The company has a quick ratio of 0.62, a current ratio of 0.78 and a debt-to-equity ratio of 1.20. Essential Utilities has a twelve month low of $36.10 and a twelve month high of $42.37.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Wednesday, August 5th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01. The company had revenue of $530.85 million for the quarter, compared to analysts’ expectations of $538.90 million. Essential Utilities had a return on equity of 8.23% and a net margin of 21.60%.Essential Utilities’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. On average, research analysts anticipate that Essential Utilities will post 2.21 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were issued a dividend of $0.3606 per share. This is a positive change from Essential Utilities’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, August 11th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.5%. Essential Utilities’s dividend payout ratio (DPR) is currently 73.47%.

Insider Activity

In other news, insider Colleen Arnold sold 2,855 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $39.55, for a total value of $112,915.25. Following the completion of the transaction, the insider owned 17,347 shares in the company, valued at $686,073.85. This trade represents a 14.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Essential Utilities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Essential Utilities during the 2nd quarter valued at $1,280,829,000. California State Teachers Retirement System increased its stake in shares of Essential Utilities by 3,456.6% in the 2nd quarter. California State Teachers Retirement System now owns 11,969,002 shares of the company’s stock worth $458,532,000 after acquiring an additional 11,632,469 shares in the last quarter. Norges Bank purchased a new position in Essential Utilities during the 4th quarter valued at about $154,176,000. Legal & General Group Plc purchased a new position in Essential Utilities during the 2nd quarter valued at about $134,247,000. Finally, Bank of New York Mellon Corp purchased a new position in Essential Utilities during the 2nd quarter valued at about $92,467,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Company Profile

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.