Essential Utilities (NYSE:WTRG) Rating Increased to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Essential Utilities (NYSE:WTRG) from a hold rating to a buy rating in a report released on Tuesday morning, Marketbeat Ratings reports. They currently have $41.00 price objective on the stock.

Other research analysts have also recently issued reports about the stock. Robert W. Baird increased their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company lowered Essential Utilities from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $43.00 to $39.00 in a research note on Tuesday, January 7th. Finally, UBS Group lowered their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Essential Utilities presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Essential Utilities Stock Up 0.9 %

Shares of Essential Utilities stock opened at $35.48 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. Essential Utilities has a 1-year low of $33.18 and a 1-year high of $41.78. The business’s fifty day moving average price is $36.88 and its two-hundred day moving average price is $38.51. The company has a market capitalization of $9.74 billion, a P/E ratio of 17.74, a PEG ratio of 2.40 and a beta of 0.86.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $435.30 million for the quarter, compared to analysts’ expectations of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share. As a group, research analysts forecast that Essential Utilities will post 1.99 EPS for the current year.

Essential Utilities Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.30 annualized dividend and a dividend yield of 3.67%. Essential Utilities’s dividend payout ratio is currently 65.00%.

Institutional Investors Weigh In On Essential Utilities

Several hedge funds have recently modified their holdings of the stock. Friedenthal Financial purchased a new position in Essential Utilities during the 3rd quarter worth approximately $25,000. Brooklyn Investment Group acquired a new stake in shares of Essential Utilities in the third quarter worth $26,000. Darwin Wealth Management LLC purchased a new position in shares of Essential Utilities during the third quarter valued at $28,000. First Horizon Advisors Inc. raised its position in Essential Utilities by 61.4% during the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock valued at $30,000 after buying an additional 294 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in Essential Utilities in the 3rd quarter worth about $42,000. 74.78% of the stock is owned by hedge funds and other institutional investors.

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.