Wells Fargo & Company Lowers Essential Utilities (NYSE:WTRG) Price Target to $43.00

Essential Utilities (NYSE:WTRG) had its price objective decreased by research analysts at Wells Fargo & Company from $45.00 to $43.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 6.57% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Robert W. Baird upped their target price on shares of Essential Utilities from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Bank of America reissued a “buy” rating and issued a $45.00 target price on shares of Essential Utilities in a research report on Friday, September 20th. Jefferies Financial Group initiated coverage on Essential Utilities in a research report on Monday, October 7th. They set a “buy” rating and a $44.00 price target for the company. Finally, Evercore ISI raised their price target on shares of Essential Utilities from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Essential Utilities presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.60.

Essential Utilities Stock Up 0.6 %

NYSE:WTRG opened at $40.35 on Tuesday. The stock has a market cap of $11.04 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 3.35 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 price of $39.03 and a two-hundred day moving average price of $38.67. Essential Utilities has a 1 year low of $33.28 and a 1 year high of $41.78.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a return on equity of 7.94% and a net margin of 27.84%. The business had revenue of $435.30 million during the quarter, compared to analysts’ expectations of $416.95 million. During the same period in the prior year, the business earned $0.30 EPS. Essential Utilities’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts expect that Essential Utilities will post 1.99 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Epoch Investment Partners Inc. acquired a new position in shares of Essential Utilities during the 1st quarter worth approximately $46,280,000. Pathway Financial Advisers LLC boosted its position in Essential Utilities by 4,309.4% during the third quarter. Pathway Financial Advisers LLC now owns 1,255,483 shares of the company’s stock worth $48,424,000 after purchasing an additional 1,227,010 shares during the period. Boston Trust Walden Corp increased its holdings in shares of Essential Utilities by 117.3% in the third quarter. Boston Trust Walden Corp now owns 1,962,692 shares of the company’s stock valued at $75,701,000 after purchasing an additional 1,059,320 shares during the last quarter. Energy Income Partners LLC bought a new position in shares of Essential Utilities in the first quarter valued at about $26,917,000. Finally, AMF Tjanstepension AB acquired a new stake in shares of Essential Utilities during the 2nd quarter worth about $11,853,000. Institutional investors own 74.78% of the company’s stock.

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.