Essential Utilities (NYSE:WTRG) PT Raised to $45.00

Essential Utilities (NYSE:WTRG) had its price objective lifted by investment analysts at Robert W. Baird from $43.00 to $45.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 12.64% from the company’s current price.

Separately, Wells Fargo & Company raised their price target on Essential Utilities from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.80.

Essential Utilities Trading Up 1.3 %

Shares of NYSE WTRG traded up $0.50 during mid-day trading on Wednesday, reaching $39.95. 306,371 shares of the company’s stock were exchanged, compared to its average volume of 1,583,580. The company’s 50-day moving average is $38.50 and its 200-day moving average is $37.15. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.52 and a current ratio of 0.62. The firm has a market capitalization of $10.93 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 3.63 and a beta of 0.83. Essential Utilities has a 52-week low of $32.07 and a 52-week high of $41.78.

Essential Utilities (NYSE:WTRG) last posted its earnings results on Monday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Essential Utilities had a net margin of 29.52% and a return on equity of 8.62%. The company had revenue of $434.40 million during the quarter, compared to analyst estimates of $442.76 million. During the same period in the previous year, the company earned $0.34 EPS. The company’s quarterly revenue was down .5% compared to the same quarter last year. Analysts expect that Essential Utilities will post 1.97 EPS for the current fiscal year.

Insider Activity

In other Essential Utilities news, CAO Robert A. Rubin sold 2,342 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $37.43, for a total transaction of $87,661.06. Following the completion of the transaction, the chief accounting officer now owns 53,391 shares in the company, valued at approximately $1,998,425.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.21% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Kingswood Wealth Advisors LLC lifted its stake in Essential Utilities by 4.5% during the second quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company’s stock worth $259,000 after purchasing an additional 297 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Essential Utilities by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 737 shares of the company’s stock worth $28,000 after purchasing an additional 325 shares in the last quarter. Sanibel Captiva Trust Company Inc. lifted its position in shares of Essential Utilities by 5.4% during the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 6,491 shares of the company’s stock worth $240,000 after buying an additional 334 shares during the last quarter. VisionPoint Advisory Group LLC boosted its holdings in shares of Essential Utilities by 52.9% in the 4th quarter. VisionPoint Advisory Group LLC now owns 977 shares of the company’s stock valued at $36,000 after buying an additional 338 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its position in shares of Essential Utilities by 5.5% in the 1st quarter. Meeder Advisory Services Inc. now owns 6,506 shares of the company’s stock valued at $241,000 after buying an additional 339 shares during 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.