Essential Utilities (NYSE:WTRG) Sets New 52-Week Low – Should You Sell?

Essential Utilities, Inc. (NYSE:WTRG) shares hit a new 52-week low during trading on Monday . The stock traded as low as $33.38 and last traded at $33.51, with a volume of 268341 shares traded. The stock had previously closed at $34.08.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Jefferies Financial Group lowered Essential Utilities from a “buy” rating to a “hold” rating and decreased their price target for the stock from $44.00 to $41.00 in a research report on Thursday, November 7th. Wells Fargo & Company cut Essential Utilities from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $43.00 to $39.00 in a report on Tuesday, January 7th. Bank of America reissued a “buy” rating and set a $45.00 price objective on shares of Essential Utilities in a report on Friday, September 20th. Finally, Robert W. Baird boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.20.

Essential Utilities Stock Performance

The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 3.06 and a beta of 0.86. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39. The stock has a 50-day moving average of $38.07 and a 200 day moving average of $38.80.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm 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 business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. On average, analysts expect that Essential Utilities, Inc. will post 2.01 EPS for the current year.

Essential Utilities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be paid a $0.3255 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 3.88%. Essential Utilities’s dividend payout ratio (DPR) is presently 65.00%.

Institutional Inflows and Outflows

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

About Essential Utilities

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.