Essential Utilities (NYSE:WTRG) Stock Rating Upgraded by StockNews.com

Essential Utilities (NYSE:WTRG) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

A number of other research firms have also recently weighed in on WTRG. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, January 28th. UBS Group reduced their price objective 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. Evercore ISI raised their target price on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company boosted their price target on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.50.

Essential Utilities Trading Down 0.8 %

NYSE WTRG opened at $40.21 on Friday. The company has a market capitalization of $11.08 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.57 and a beta of 0.80. 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 12 month low of $33.18 and a 12 month high of $41.78. The company’s fifty day moving average price is $38.51 and its two-hundred day moving average price is $37.90.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings data 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 the consensus estimate of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. As a group, research analysts predict that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Institutional Trading of Essential Utilities

A number of institutional investors and hedge funds have recently modified their holdings of the company. Synergy Asset Management LLC lifted its position in Essential Utilities by 92.8% during the 4th quarter. Synergy Asset Management LLC now owns 148,009 shares of the company’s stock worth $5,529,000 after acquiring an additional 71,222 shares during the last quarter. Nordea Investment Management AB boosted its stake in Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after purchasing an additional 972,803 shares during the period. Brighton Jones LLC acquired a new stake in Essential Utilities in the 4th quarter valued at approximately $638,000. JPMorgan Chase & Co. increased its position in Essential Utilities by 33.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 953,984 shares of the company’s stock worth $36,795,000 after buying an additional 237,096 shares during the period. Finally, RWC Asset Management LLP acquired a new position in shares of Essential Utilities during the fourth quarter worth approximately $2,119,000. 74.78% of the stock is currently 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.