Essential Utilities, Inc. (NYSE:WTRG) to Issue $0.33 Quarterly Dividend

Essential Utilities, Inc. (NYSE:WTRG) announced a quarterly dividend on Wednesday, December 11th,Wall Street Journal reports. Investors of record on Monday, February 10th will be given a dividend of 0.3255 per share on Monday, March 3rd. This represents a $1.30 annualized dividend and a yield of 3.70%. The ex-dividend date is Monday, February 10th.

Essential Utilities has increased its dividend by an average of 6.8% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. Essential Utilities has a payout ratio of 58.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Essential Utilities to earn $2.13 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 61.0%.

Essential Utilities Trading Down 0.5 %

Shares of NYSE WTRG opened at $35.15 on Friday. The company has a market cap of $9.65 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 2.53 and a beta of 0.86. The stock’s 50 day simple moving average is $36.25 and its 200 day simple moving average is $38.28. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. Essential Utilities has a 12-month low of $33.18 and a 12-month high of $41.78.

Analyst Ratings Changes

Several research firms have recently commented on WTRG. Wells Fargo & Company lowered shares of Essential Utilities from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $43.00 to $39.00 in a research report on Tuesday, January 7th. Robert W. Baird lifted their price target on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, January 28th. Finally, UBS Group lowered their target price on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

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.