Essential Utilities (NYSE:WTRG) Stock Rating Lowered by Jefferies Financial Group

Jefferies Financial Group lowered shares of Essential Utilities (NYSE:WTRG) from a buy rating to a hold rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. Jefferies Financial Group currently has $41.00 price target on the stock, down from their prior price target of $44.00.

Several other equities analysts have also recently issued reports on WTRG. Bank of America reiterated a “buy” rating and issued a $45.00 price objective on shares of Essential Utilities in a research note on Friday, September 20th. Robert W. Baird boosted their price target on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday. Evercore ISI raised their price objective on shares of Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company lowered their target price on shares of Essential Utilities from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Essential Utilities Stock Up 0.9 %

Shares of WTRG stock traded up $0.35 during trading on Thursday, reaching $39.45. The company’s stock had a trading volume of 1,102,717 shares, compared to its average volume of 1,533,932. Essential Utilities has a 1-year low of $33.28 and a 1-year high of $41.78. The stock’s 50-day moving average price is $39.03 and its 200 day moving average price is $38.67. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 3.35 and a beta of 0.84. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.58 and a quick ratio of 0.44.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $435.30 million during the quarter, compared to the consensus estimate of $416.95 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.94%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. On average, research analysts anticipate that Essential Utilities will post 1.99 EPS for the current year.

Essential Utilities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.3255 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.30 annualized dividend and a dividend yield of 3.30%. Essential Utilities’s dividend payout ratio is presently 65.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WTRG. CIBC Asset Management Inc boosted its stake in Essential Utilities by 1.8% in the third quarter. CIBC Asset Management Inc now owns 14,243 shares of the company’s stock valued at $549,000 after acquiring an additional 250 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of Essential Utilities by 4.5% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 6,947 shares of the company’s stock valued at $259,000 after purchasing an additional 297 shares during the last quarter. Tompkins Financial Corp boosted its position in shares of Essential Utilities by 21.7% in the 3rd quarter. Tompkins Financial Corp now owns 1,685 shares of the company’s stock valued at $65,000 after purchasing an additional 300 shares during the period. V Square Quantitative Management LLC grew its stake in Essential Utilities by 10.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,477 shares of the company’s stock worth $134,000 after buying an additional 333 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. grew its stake in 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. 74.78% of the stock is owned by hedge funds and other institutional investors.

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.