Essential Utilities (NYSE:WTRG) Stock Rating Upgraded by Wall Street Zen

Essential Utilities (NYSE:WTRG - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

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

Essential Utilities Price Performance

WTRG stock opened at $37.07 on Friday. Essential Utilities has a 52 week low of $33.18 and a 52 week high of $41.78. The firm has a market capitalization of $10.39 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 3.42 and a beta of 0.79. The company has a fifty day simple moving average of $37.74 and a two-hundred day simple moving average of $37.81. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.16.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in Essential Utilities during the 1st quarter valued at $31,000. Kennebec Savings Bank bought a new stake in shares of Essential Utilities during the second quarter worth $31,000. Valley National Advisers Inc. purchased a new stake in shares of Essential Utilities during the first quarter valued at $33,000. American National Bank & Trust bought a new position in shares of Essential Utilities in the first quarter worth about $35,000. Finally, National Pension Service increased its stake in 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 buying an additional 407 shares during the period. 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.

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