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

Essential Utilities Inc. (NYSE:WTRG) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $43.00.

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

Essential Utilities Stock Performance

Shares of WTRG stock opened at $40.05 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.62 and a debt-to-equity ratio of 1.20. The firm has a fifty day simple moving average of $38.58 and a two-hundred day simple moving average of $38.89. Essential Utilities has a 12 month low of $36.10 and a 12 month high of $42.37. The firm has a market capitalization of $11.37 billion, a PE ratio of 20.43 and a beta of 0.64.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $530.85 million for the quarter, compared to analyst estimates of $538.90 million. Essential Utilities had a net margin of 21.60% and a return on equity of 8.23%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the firm earned $0.38 earnings per share. Analysts forecast that Essential Utilities will post 2.21 EPS for the current fiscal year.

Essential Utilities Increases Dividend

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

Insider Buying and Selling

In other Essential Utilities news, insider Colleen Arnold sold 2,855 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $39.55, for a total transaction of $112,915.25. Following the transaction, the insider directly owned 17,347 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.36% of the company’s stock.

Institutional Trading of Essential Utilities

Several institutional investors and hedge funds have recently made changes to their positions in WTRG. Evolution Wealth Management Inc. purchased a new position in Essential Utilities during the first quarter worth about $27,000. Fideuram Asset Management Ireland dac purchased a new stake in Essential Utilities in the 4th quarter valued at about $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Essential Utilities during the 4th quarter worth approximately $32,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Essential Utilities during the 2nd quarter worth approximately $33,000. Finally, Motiv8 Investments LLC purchased a new position in shares of Essential Utilities in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 74.78% of the company’s stock.

Essential Utilities Company Profile

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.