StockNews.com Upgrades Essential Utilities (NYSE:WTRG) to Hold

Essential Utilities (NYSE:WTRG) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Other research analysts have also issued research reports about the company. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, January 28th. UBS Group decreased their price target on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company lifted their target price on Essential Utilities from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Finally, Evercore ISI boosted their price target on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a hold 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 an average target price of $43.50.

Essential Utilities Price Performance

Shares of NYSE WTRG opened at $39.62 on Friday. Essential Utilities has a 1-year low of $33.18 and a 1-year high of $41.78. The company has a market cap of $10.92 billion, a PE ratio of 19.81, a P/E/G ratio of 2.57 and a beta of 0.80. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The stock has a fifty day moving average price of $37.56 and a 200 day moving average price of $37.83.

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

Institutional Investors Weigh In On Essential Utilities

Hedge funds and other institutional investors have recently modified their holdings of the stock. Townsquare Capital LLC bought a new position in Essential Utilities during the third quarter worth $204,000. Captrust Financial Advisors boosted its stake in Essential Utilities by 43.3% in the third quarter. Captrust Financial Advisors now owns 17,981 shares of the company’s stock valued at $694,000 after acquiring an additional 5,432 shares during the period. Centiva Capital LP bought a new position in shares of Essential Utilities during the third quarter valued at approximately $400,000. HighTower Advisors LLC raised its position in shares of Essential Utilities by 3.7% during the 3rd quarter. HighTower Advisors LLC now owns 97,714 shares of the company’s stock worth $3,781,000 after purchasing an additional 3,501 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Essential Utilities by 15.7% during the 3rd quarter. Janus Henderson Group PLC now owns 46,753 shares of the company’s stock worth $1,803,000 after purchasing an additional 6,344 shares during the period. Institutional investors own 74.78% of the company’s stock.

Essential Utilities Company Profile

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.