Essential Utilities (NYSE:WTRG) Price Target Cut to $43.00 by Analysts at Robert W. Baird

Essential Utilities (NYSE:WTRG) had its price target cut by Robert W. Baird from $44.00 to $43.00 in a research note published on Monday, Benzinga reports. They currently have an outperform rating on the stock.

Separately, Evercore ISI reduced their target price on Essential Utilities from $51.00 to $42.00 and set an outperform rating for the company in a research report on Monday, March 4th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $43.00.

Essential Utilities Trading Up 1.0 %

Shares of Essential Utilities stock opened at $38.78 on Monday. The company’s 50-day moving average price is $36.09 and its 200-day moving average price is $35.99. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 3.29 and a beta of 0.80. Essential Utilities has a 12-month low of $32.07 and a 12-month high of $43.26. The company has a current ratio of 0.62, a quick ratio of 0.48 and a debt-to-equity ratio of 1.13.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Friday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. The business had revenue of $479.40 million for the quarter, compared to analysts’ expectations of $708.50 million. Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. The business’s revenue for the quarter was down 32.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. On average, equities analysts expect that Essential Utilities will post 2 earnings per share for the current fiscal year.

Essential Utilities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Friday, May 10th will be given a dividend of $0.3071 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.23 annualized dividend and a dividend yield of 3.17%. This is a boost from Essential Utilities’s previous quarterly dividend of $0.31. Essential Utilities’s dividend payout ratio (DPR) is 58.29%.

Insider Buying and Selling

In other news, CAO Robert A. Rubin sold 2,023 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total transaction of $73,960.88. Following the transaction, the chief accounting officer now directly owns 13,358 shares in the company, valued at approximately $488,368.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Robert A. Rubin sold 5,565 shares of Essential Utilities stock in a transaction on Monday, April 1st. The shares were sold at an average price of $37.21, for a total value of $207,073.65. Following the transaction, the chief accounting officer now owns 57,756 shares in the company, valued at approximately $2,149,100.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Robert A. Rubin sold 2,023 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $36.56, for a total transaction of $73,960.88. Following the completion of the sale, the chief accounting officer now directly owns 13,358 shares of the company’s stock, valued at $488,368.48. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. grew its holdings in shares of Essential Utilities by 53.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 45,331 shares of the company’s stock worth $1,556,000 after purchasing an additional 15,811 shares during the last quarter. Raymond James & Associates increased its position in shares of Essential Utilities by 35.8% in the third quarter. Raymond James & Associates now owns 157,440 shares of the company’s stock valued at $5,405,000 after acquiring an additional 41,494 shares during the period. Forsta AP Fonden increased its position in shares of Essential Utilities by 25.2% in the third quarter. Forsta AP Fonden now owns 71,000 shares of the company’s stock valued at $2,437,000 after acquiring an additional 14,300 shares during the period. New York State Teachers Retirement System raised its stake in shares of Essential Utilities by 6.2% during the third quarter. New York State Teachers Retirement System now owns 317,086 shares of the company’s stock valued at $10,886,000 after acquiring an additional 18,382 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its holdings in shares of Essential Utilities by 2.6% during the third quarter. IFM Investors Pty Ltd now owns 92,851 shares of the company’s stock worth $3,188,000 after purchasing an additional 2,369 shares during the period. Hedge funds and other institutional investors own 74.78% of the company’s stock.

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.