Essential Utilities (NYSE:WTRG) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Essential Utilities (NYSE:WTRG – Free Report) from a sell rating to a hold rating in a report released on Sunday.

Other research analysts have also recently issued research reports about the company. Zacks Research cut Essential Utilities from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. Robert W. Baird boosted their price target on Essential Utilities from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, August 4th. Finally, UBS Group boosted their price target on Essential Utilities from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, August 15th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Read Our Latest Report on Essential Utilities

Essential Utilities Trading Down 1.8%

Shares of WTRG opened at $38.81 on Friday. The stock’s 50-day moving average is $38.02 and its two-hundred day moving average is $38.52. The stock has a market cap of $10.88 billion, a PE ratio of 16.66, a P/E/G ratio of 3.63 and a beta of 0.83. Essential Utilities has a 12 month low of $33.18 and a 12 month high of $41.65. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.73 and a quick ratio of 0.58.

Essential Utilities (NYSE:WTRG – Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.09. The company had revenue of $514.91 million for the quarter, compared to analysts’ expectations of $462.70 million. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%.The firm’s quarterly revenue was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. Equities analysts forecast that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.3426 per share. The ex-dividend date was Tuesday, August 12th. This is an increase from Essential Utilities’s previous quarterly dividend of $0.33. This represents a $1.37 annualized dividend and a yield of 3.5%. Essential Utilities’s payout ratio is currently 58.80%.

Institutional Trading of Essential Utilities

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Essential Utilities by 2.3% during the second quarter. Vanguard Group Inc. now owns 30,407,634 shares of the company’s stock valued at $1,129,340,000 after buying an additional 693,988 shares in the last quarter. Amundi grew its holdings in shares of Essential Utilities by 2.7% during the second quarter. Amundi now owns 5,637,022 shares of the company’s stock valued at $218,997,000 after purchasing an additional 146,960 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Essential Utilities by 3.8% during the second quarter. Geode Capital Management LLC now owns 4,734,532 shares of the company’s stock valued at $175,313,000 after purchasing an additional 173,319 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Essential Utilities by 4.1% during the second quarter. Legal & General Group Plc now owns 3,488,920 shares of the company’s stock valued at $129,578,000 after purchasing an additional 136,270 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Essential Utilities by 22.0% during the fourth quarter. Northern Trust Corp now owns 3,331,090 shares of the company’s stock valued at $120,985,000 after purchasing an additional 601,026 shares during the last quarter. Institutional investors and hedge funds own 74.78% of the company’s stock.

About Essential Utilities

(Get Free Report)

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.

Featured Articles