Essential Utilities (NYSE:WTRG) Trading 4.2% Higher – Here’s Why

Essential Utilities, Inc. (NYSE:WTRG)’s share price traded up 4.2% during trading on Thursday . The company traded as high as $41.17 and last traded at $41.06. 441,066 shares traded hands during trading, a decline of 70% from the average session volume of 1,450,424 shares. The stock had previously closed at $39.39.

Analyst Ratings Changes

WTRG has been the subject of several analyst reports. Evercore ISI boosted their target price on shares of Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Wells Fargo & Company increased their target price on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. UBS Group lowered their price target on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a hold 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 a consensus target price of $43.50.

Essential Utilities Trading Up 3.2 %

The stock has a market capitalization of $11.20 billion, a PE ratio of 20.32, a PEG ratio of 2.57 and a beta of 0.79. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The stock’s 50 day moving average price is $37.30 and its 200-day moving average price is $37.82.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $604.38 million during the quarter, compared to analysts’ expectations of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. On average, sell-side analysts expect that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a $0.3255 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.20%. Essential Utilities’s payout ratio is currently 59.91%.

Institutional Trading of Essential Utilities

Several institutional investors have recently made changes to their positions in the company. VSM Wealth Advisory LLC acquired a new stake in Essential Utilities in the 4th quarter valued at about $26,000. IFP Advisors Inc raised its holdings in Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after purchasing an additional 473 shares in the last quarter. Orion Capital Management LLC acquired a new position in Essential Utilities during the fourth quarter worth $41,000. New Age Alpha Advisors LLC purchased a new position in Essential Utilities in the fourth quarter valued at about $45,000. Finally, Siemens Fonds Invest GmbH purchased a new position in shares of Essential Utilities in the fourth quarter valued at $49,000. 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.