Essential Utilities (NYSE:WTRG) Price Target Lowered to $42.00 at UBS Group

Essential Utilities (NYSE:WTRG) had its price target reduced by UBS Group from $45.00 to $42.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently issued reports on WTRG. Jefferies Financial Group downgraded shares of Essential Utilities from a “buy” rating to a “hold” rating and decreased their target price for the company from $44.00 to $41.00 in a research report on Thursday, November 7th. Bank of America restated a “buy” rating and issued a $45.00 target price on shares of Essential Utilities in a research note on Friday, September 20th. 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 research report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered Essential Utilities from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $43.00 to $39.00 in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Essential Utilities Stock Up 2.0 %

Shares of WTRG stock opened at $35.19 on Tuesday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.39 and a current ratio of 0.55. Essential Utilities has a fifty-two week low of $33.18 and a fifty-two week high of $41.78. The firm has a market capitalization of $9.66 billion, a PE ratio of 17.59, a P/E/G ratio of 2.44 and a beta of 0.86. The stock’s 50-day simple moving average is $37.73 and its 200-day simple moving average is $38.72.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The company had revenue of $435.30 million during the quarter, compared to analyst estimates of $416.95 million. During the same period last year, the firm posted $0.30 EPS. Essential Utilities’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts expect that Essential Utilities will post 1.99 earnings per share for the current year.

Essential Utilities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Monday, February 10th will be issued a $0.3255 dividend. This represents a $1.30 annualized dividend and a yield of 3.70%. The ex-dividend date is Monday, February 10th. Essential Utilities’s payout ratio is currently 65.00%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Glenmede Trust Co. NA increased its holdings in Essential Utilities by 1.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 51,881 shares of the company’s stock worth $2,001,000 after acquiring an additional 803 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Essential Utilities by 2.5% in the second quarter. ProShare Advisors LLC now owns 881,658 shares of the company’s stock valued at $32,912,000 after purchasing an additional 21,804 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Essential Utilities by 18.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,500,150 shares of the company’s stock worth $56,002,000 after purchasing an additional 234,857 shares in the last quarter. Empower Advisory Group LLC raised its position in shares of Essential Utilities by 5.6% during the 3rd quarter. Empower Advisory Group LLC now owns 1,585,475 shares of the company’s stock worth $61,152,000 after purchasing an additional 84,596 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in Essential Utilities by 16.7% in the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after buying an additional 972,803 shares in the last quarter. 74.78% of the stock is owned by institutional investors and hedge funds.

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.