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

Key Points

• Essential Utilities' stock rating has been upgraded from "sell" to "hold" by Wall Street Zen and is currently rated a "Moderate Buy" with a consensus price target of $44.50.
• The company reported a quarterly earnings per share (EPS) of $0.38, exceeding analysts' estimates, with revenue increasing by 18.5% year-over-year, amounting to $514.91 million.
• Institutional investors hold a significant stake in Essential Utilities, with 74.78% of shares owned by hedge funds and other institutions, indicating strong investor confidence.

Essential Utilities (NYSE:WTRG - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Sunday.

Other equities analysts also recently issued research reports about the company. Robert W. Baird increased their price target on Essential Utilities from $46.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, August 4th. Zacks Research downgraded Essential Utilities from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Finally, UBS Group increased their price target on Essential Utilities from $42.00 to $47.00 and gave the company a "buy" rating in a report on Friday, August 15th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, Essential Utilities presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.50.

Essential Utilities Trading Down 0.3%

NYSE:WTRG opened at $39.55 on Friday. The stock's 50 day moving average price is $37.97 and its 200 day moving average price is $38.47. Essential Utilities has a 52 week low of $33.18 and a 52 week high of $41.65. The company has a market capitalization of $11.09 billion, a P/E ratio of 16.97, a P/E/G ratio of 3.63 and a beta of 0.78. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.58 and a current ratio of 0.73.

Essential Utilities (NYSE:WTRG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.38 EPS for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the company posted $0.28 earnings per share. The firm's revenue was up 18.5% on a year-over-year basis. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. On average, research analysts forecast that Essential Utilities will post 1.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Essential Utilities

Several hedge funds and other institutional investors have recently modified their holdings of WTRG. Norges Bank acquired a new stake in shares of Essential Utilities in the second quarter worth $102,347,000. Maple Brown Abbott Ltd acquired a new stake in shares of Essential Utilities in the first quarter worth $94,251,000. Balyasny Asset Management L.P. grew its stake in shares of Essential Utilities by 1,572.4% in the second quarter. Balyasny Asset Management L.P. now owns 1,271,201 shares of the company's stock worth $47,212,000 after acquiring an additional 1,195,189 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Essential Utilities by 2.3% in the second quarter. Vanguard Group Inc. now owns 30,407,634 shares of the company's stock worth $1,129,340,000 after acquiring an additional 693,988 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its stake in shares of Essential Utilities by 74.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,593,053 shares of the company's stock worth $57,860,000 after acquiring an additional 680,760 shares during the last quarter. 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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