Essential Utilities (NYSE:WTRG) Stock Price Expected to Rise, Evercore ISI Analyst Says

Essential Utilities (NYSE:WTRG) had its price target hoisted by analysts at Evercore ISI from $45.00 to $46.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Evercore ISI’s price objective points to a potential upside of 19.61% from the stock’s current price.

WTRG has been the subject of several other reports. UBS Group lowered their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company upped their price target on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Robert W. Baird upped their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Tuesday, January 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.50.

Essential Utilities Stock Down 0.1 %

NYSE WTRG opened at $38.46 on Wednesday. The business has a fifty day moving average price of $35.79 and a two-hundred day moving average price of $37.83. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. Essential Utilities has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The stock has a market capitalization of $10.57 billion, a PE ratio of 19.23, a PEG ratio of 2.57 and a beta of 0.79.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $604.38 million during the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. Equities analysts expect that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Institutional Trading of Essential Utilities

A number of institutional investors and hedge funds have recently bought and sold shares of WTRG. Brooklyn Investment Group acquired a new stake in Essential Utilities in the third quarter valued at $26,000. VSM Wealth Advisory LLC bought a new stake in Essential Utilities during the fourth quarter valued at $26,000. Darwin Wealth Management LLC bought a new stake in Essential Utilities during the third quarter valued at $28,000. First Horizon Advisors Inc. boosted its position in Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after acquiring an additional 294 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after acquiring an additional 473 shares during the last quarter. 74.78% of the stock is currently 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.