Essential Utilities (NYSE:WTRG) Price Target Raised to $47.00

Key Points

• Stock analysts at Robert W. Baird have raised the price target for Essential Utilities from $46.00 to $47.00, reflecting a potential upside of 22.97% from its previous close.
• The company reported a quarterly earnings per share (EPS) of $0.38, surpassing the consensus estimate of $0.29, with year-over-year revenue growth of 18.5%.
• Essential Utilities has received a mix of ratings, with two analysts rating it as hold and five issuing buy ratings, leading to an overall average rating of "Moderate Buy."

Essential Utilities (NYSE:WTRG - Get Free Report) had its price objective raised by stock analysts at Robert W. Baird from $46.00 to $47.00 in a report released on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's price objective indicates a potential upside of 22.97% from the stock's previous close.

Separately, Wall Street Zen raised Essential Utilities from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $43.67.

Essential Utilities Stock Performance

Shares of WTRG opened at $38.22 on Monday. Essential Utilities has a 12 month low of $33.18 and a 12 month high of $41.78. The stock has a fifty day moving average price of $37.57 and a 200-day moving average price of $37.94. The company has a current ratio of 0.73, a quick ratio of 0.57 and a debt-to-equity ratio of 1.13. The firm has a market cap of $10.71 billion, a PE ratio of 16.40, a P/E/G ratio of 3.51 and a beta of 0.78.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.09. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%. The firm had revenue of $514.91 million for the quarter, compared to the consensus estimate of $462.70 million. During the same period in the prior year, the firm earned $0.28 EPS. The firm's revenue was up 18.5% on a year-over-year basis. Equities research analysts predict that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Essential Utilities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in Essential Utilities during the 1st quarter worth about $31,000. Kennebec Savings Bank acquired a new stake in Essential Utilities during the 2nd quarter worth about $31,000. Valley National Advisers Inc. acquired a new stake in Essential Utilities during the 1st quarter worth about $33,000. American National Bank & Trust acquired a new stake in Essential Utilities during the 1st quarter worth about $35,000. Finally, National Pension Service grew its position in Essential Utilities by 75.0% during the 1st quarter. National Pension Service now owns 950 shares of the company's stock worth $38,000 after purchasing an additional 407 shares during the period. 74.78% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.