Essential Utilities (NYSE:WTRG) Downgraded to Sell Rating by Wall Street Zen

Essential Utilities (NYSE:WTRG - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.

Separately, Robert W. Baird cut their price objective on shares of Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.50.

Essential Utilities Stock Performance

WTRG traded up $0.13 on Friday, hitting $37.42. 2,627,317 shares of the company traded hands, compared to its average volume of 1,553,090. Essential Utilities has a 12-month low of $33.18 and a 12-month high of $41.78. The company has a 50 day moving average of $37.80 and a 200-day moving average of $37.75. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $10.49 billion, a PE ratio of 16.78, a PEG ratio of 3.43 and a beta of 0.79.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.23. Essential Utilities had a return on equity of 9.81% and a net margin of 27.17%. The business had revenue of $783.63 million for the quarter, compared to analyst estimates of $713.80 million. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company's revenue for the quarter was up 28.0% compared to the same quarter last year. Sell-side analysts anticipate that Essential Utilities will post 1.99 earnings per share for the current year.

Institutional Trading of Essential Utilities

A number of institutional investors have recently modified their holdings of the business. VSM Wealth Advisory LLC acquired a new stake in shares of Essential Utilities during the 4th quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new position in Essential Utilities in the 1st quarter valued at approximately $31,000. Valley National Advisers Inc. purchased a new position in Essential Utilities in the 1st quarter valued at approximately $33,000. American National Bank & Trust acquired a new position in Essential Utilities during the first quarter worth $35,000. Finally, National Pension Service boosted its position in Essential Utilities by 75.0% during the first quarter. National Pension Service now owns 950 shares of the company's stock worth $38,000 after purchasing an additional 407 shares in the last quarter. 74.78% of the stock is currently 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.

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