Essential Utilities (NYSE:WTRG) Updates FY 2022 Earnings Guidance

Essential Utilities (NYSE:WTRGGet Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided EPS guidance of $1.75-$1.80 for the period, compared to the consensus EPS estimate of $1.78. The company issued revenue guidance of -.

Essential Utilities Trading Up 1.2 %

WTRG stock opened at $48.30 on Thursday. Essential Utilities has a one year low of $38.50 and a one year high of $53.93. The stock has a market cap of $12.67 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 4.38 and a beta of 0.77. The company has a fifty day moving average price of $43.70 and a two-hundred day moving average price of $46.18. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.64 and a quick ratio of 0.37.

Essential Utilities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be paid a $0.287 dividend. The ex-dividend date is Wednesday, November 9th. This represents a $1.15 dividend on an annualized basis and a yield of 2.38%. Essential Utilities’s dividend payout ratio (DPR) is currently 64.97%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. HSBC upgraded shares of Essential Utilities from a hold rating to a buy rating and raised their price objective for the stock from $53.00 to $57.00 in a research report on Thursday, August 18th. Robert W. Baird lifted their price target on Essential Utilities from $50.00 to $54.00 and gave the stock an outperform rating in a report on Friday, August 5th. Evercore ISI decreased their price objective on Essential Utilities to $44.00 in a report on Thursday, October 20th. Bank of America cut Essential Utilities from a buy rating to a neutral rating and set a $52.00 price objective on the stock. in a research report on Friday, September 9th. Finally, StockNews.com raised shares of Essential Utilities from a sell rating to a hold rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Essential Utilities presently has an average rating of Moderate Buy and an average price target of $51.83.

Hedge Funds Weigh In On Essential Utilities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its holdings in shares of Essential Utilities by 61.8% during the 1st quarter. Advisors Asset Management Inc. now owns 7,903 shares of the company’s stock worth $404,000 after purchasing an additional 3,020 shares in the last quarter. Beacon Pointe Advisors LLC bought a new position in Essential Utilities in the 1st quarter valued at about $401,000. Wetherby Asset Management Inc. raised its position in shares of Essential Utilities by 7.3% in the 1st quarter. Wetherby Asset Management Inc. now owns 7,807 shares of the company’s stock valued at $399,000 after buying an additional 530 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Essential Utilities by 47.5% in the 2nd quarter. Captrust Financial Advisors now owns 8,566 shares of the company’s stock valued at $393,000 after buying an additional 2,760 shares in the last quarter. Finally, Meridian Wealth Partners LLC lifted its holdings in shares of Essential Utilities by 16.4% during the 1st quarter. Meridian Wealth Partners LLC now owns 6,539 shares of the company’s stock worth $334,000 after acquiring an additional 921 shares during the period. 69.79% of the stock is owned by institutional investors and hedge funds.

Essential Utilities Company Profile

(Get Rating)

Essential Utilities, Inc, through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. It offers water services through operating and maintenance contract with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through a third-party.

See Also

Earnings History and Estimates for Essential Utilities (NYSE:WTRG)

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