Essential Utilities Inc. (NYSE:WTRG) Given Consensus Rating of “Moderate Buy” by Brokerages

Essential Utilities Inc. (NYSE:WTRG) has received an average rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $43.00.

A number of research analysts have weighed in on WTRG shares. UBS Group boosted their target price on shares of Essential Utilities from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, July 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Essential Utilities in a research note on Friday, May 22nd. Barclays lifted their price target on shares of Essential Utilities from $38.00 to $40.00 and gave the stock an “underweight” rating in a report on Wednesday, July 15th. Finally, Wall Street Zen raised Essential Utilities to a “sell” rating in a report on Saturday, July 4th.

Insider Buying and Selling at Essential Utilities

In related news, insider Colleen Arnold sold 2,855 shares of Essential Utilities stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $39.55, for a total value of $112,915.25. Following the completion of the sale, the insider owned 17,347 shares of the company’s stock, valued at approximately $686,073.85. This trade represents a 14.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Essential Utilities

Several institutional investors have recently added to or reduced their stakes in WTRG. BlackRock Inc. bought a new position in Essential Utilities in the 2nd quarter worth approximately $1,280,829,000. Norges Bank purchased a new position in Essential Utilities in the 4th quarter valued at approximately $154,176,000. Bank of New York Mellon Corp bought a new stake in Essential Utilities during the 2nd quarter valued at $92,467,000. Amundi raised its holdings in Essential Utilities by 33.4% during the 4th quarter. Amundi now owns 6,335,695 shares of the company’s stock valued at $243,023,000 after acquiring an additional 1,586,622 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Essential Utilities by 611.4% during the first quarter. Assenagon Asset Management S.A. now owns 1,744,679 shares of the company’s stock worth $70,258,000 after acquiring an additional 1,499,450 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

Essential Utilities Trading Up 0.7%

Shares of Essential Utilities stock opened at $40.05 on Wednesday. The firm has a market cap of $11.37 billion, a PE ratio of 20.43 and a beta of 0.64. Essential Utilities has a 1 year low of $36.10 and a 1 year high of $42.37. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.78 and a quick ratio of 0.62. The stock has a fifty day moving average price of $38.58 and a 200-day moving average price of $38.89.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The company had revenue of $530.85 million for the quarter, compared to the consensus estimate of $538.90 million. Essential Utilities had a net margin of 21.60% and a return on equity of 8.23%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. Equities research analysts anticipate that Essential Utilities will post 2.21 EPS for the current year.

Essential Utilities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be given a dividend of $0.3606 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Essential Utilities’s previous quarterly dividend of $0.34. Essential Utilities’s payout ratio is currently 69.90%.

About Essential Utilities

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.