Essential Utilities (NYSE:WTRG) Now Covered by Analysts at Jefferies Financial Group

Stock analysts at Jefferies Financial Group assumed coverage on shares of Essential Utilities (NYSE:WTRG) in a report issued on Monday, Briefing.com reports. The firm set a “buy” rating and a $44.00 price target on the stock. Jefferies Financial Group’s target price indicates a potential upside of 16.22% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Robert W. Baird boosted their price objective on Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price objective on Essential Utilities from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Bank of America restated a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a report on Friday, September 20th. Finally, Evercore ISI increased their price objective on Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.80.

Essential Utilities Stock Performance

Essential Utilities stock traded down $0.39 during trading hours on Monday, reaching $37.86. 110,479 shares of the company were exchanged, compared to its average volume of 1,543,691. The firm has a market cap of $10.36 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 3.44 and a beta of 0.84. 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 stock has a 50-day moving average of $39.21 and a 200 day moving average of $38.10. Essential Utilities has a 12 month low of $32.42 and a 12 month high of $41.78.

Essential Utilities (NYSE:WTRG) last issued its earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). The firm had revenue of $434.40 million during the quarter, compared to analyst estimates of $442.76 million. Essential Utilities had a net margin of 28.74% and a return on equity of 8.16%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. As a group, research analysts anticipate that Essential Utilities will post 1.95 earnings per share for the current year.

Hedge Funds Weigh In On Essential Utilities

Several institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB boosted its position in Essential Utilities by 17,553.7% in the first quarter. Nordea Investment Management AB now owns 3,425,350 shares of the company’s stock worth $126,156,000 after purchasing an additional 3,405,947 shares during the last quarter. Epoch Investment Partners Inc. bought a new position in Essential Utilities in the 1st quarter worth about $46,280,000. Vanguard Group Inc. increased its stake in Essential Utilities by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 27,992,080 shares of the company’s stock worth $1,045,504,000 after acquiring an additional 823,495 shares during the last quarter. Energy Income Partners LLC bought a new position in Essential Utilities in the 1st quarter worth about $26,917,000. Finally, Boston Trust Walden Corp increased its stake in Essential Utilities by 350.3% in the 2nd quarter. Boston Trust Walden Corp now owns 903,372 shares of the company’s stock worth $33,723,000 after acquiring an additional 702,760 shares during the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

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.