Essential Utilities Inc. (NYSE:WTRG) Given Consensus Rating of "Moderate Buy" by Brokerages

Essential Utilities Inc. (NYSE:WTRG - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $44.40.

WTRG has been the subject of a number of research reports. Robert W. Baird lifted their price target on Essential Utilities from $46.00 to $47.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Zacks Research lowered Essential Utilities from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Wall Street Zen upgraded shares of Essential Utilities from a "sell" rating to a "hold" rating in a report on Sunday, August 31st. Finally, UBS Group increased their price target on shares of Essential Utilities from $42.00 to $47.00 and gave the stock a "buy" rating in a report on Friday, August 15th.

Essential Utilities Stock Down 0.3%

WTRG stock opened at $37.08 on Friday. The firm has a 50 day moving average of $38.26 and a 200 day moving average of $38.59. The stock has a market capitalization of $10.40 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 3.40 and a beta of 0.83. The company has a quick ratio of 0.58, a current ratio of 0.73 and a debt-to-equity ratio of 1.13. Essential Utilities has a 52 week low of $33.18 and a 52 week high of $41.65.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.09. The company had revenue of $514.91 million during the quarter, compared to analysts' expectations of $462.70 million. Essential Utilities had a net margin of 27.62% and a return on equity of 10.10%. Essential Utilities's revenue for the quarter was up 18.5% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. Sell-side analysts forecast that Essential Utilities will post 1.99 earnings per share for the current year.

Essential Utilities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.3426 dividend. This is a boost from Essential Utilities's previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, August 12th. This represents a $1.37 annualized dividend and a yield of 3.7%. Essential Utilities's dividend payout ratio is currently 58.80%.

Hedge Funds Weigh In On Essential Utilities

Several hedge funds and other institutional investors have recently bought and sold shares of WTRG. SouthState Corp increased its holdings in Essential Utilities by 834.7% in the 2nd quarter. SouthState Corp now owns 701 shares of the company's stock worth $26,000 after buying an additional 626 shares during the period. Headlands Technologies LLC acquired a new position in Essential Utilities in the 1st quarter worth approximately $31,000. Kennebec Savings Bank acquired a new position in Essential Utilities in the 2nd quarter worth approximately $31,000. Valley National Advisers Inc. acquired a new position in Essential Utilities in the 1st quarter worth approximately $33,000. Finally, American National Bank & Trust acquired a new stake in shares of Essential Utilities during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds 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.

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