Essential Utilities (NYSE:WTRG) Shares Gap Down - Should You Sell?

Shares of Essential Utilities, Inc. (NYSE:WTRG - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $38.45, but opened at $37.44. Essential Utilities shares last traded at $37.52, with a volume of 537,640 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WTRG shares. Wall Street Zen raised Essential Utilities from a "sell" rating to a "hold" rating in a research report on Sunday, April 20th. Evercore ISI boosted their target price on Essential Utilities from $45.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 5th. Wells Fargo & Company lifted their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Finally, Robert W. Baird decreased their price objective on Essential Utilities from $47.00 to $46.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Essential Utilities presently has a consensus rating of "Moderate Buy" and an average price target of $43.50.

Essential Utilities Stock Performance

The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $10.55 billion, a P/E ratio of 18.83, a P/E/G ratio of 2.57 and a beta of 0.81. The company's fifty day simple moving average is $39.32 and its 200 day simple moving average is $37.94.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.23. The business had revenue of $783.63 million during the quarter, compared to analysts' expectations of $713.80 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. During the same quarter in the previous year, the company earned $0.97 EPS. The business's quarterly revenue was up 28.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Institutional Trading of Essential Utilities

Several hedge funds and other institutional investors have recently bought and sold shares of WTRG. VSM Wealth Advisory LLC purchased a new stake in shares of Essential Utilities during the fourth quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in shares of Essential Utilities during the 1st quarter valued at $31,000. Valley National Advisers Inc. purchased a new stake in Essential Utilities in the first quarter worth about $33,000. American National Bank & Trust bought a new position in Essential Utilities during the 1st quarter valued at approximately $35,000. Finally, National Pension Service raised its position in shares of Essential Utilities by 75.0% in 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 last quarter. Hedge funds and other institutional investors 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.