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, indicating a shift in analyst sentiment.
• Barclays and Jefferies Financial Group have also raised their price targets for the stock, with Jefferies setting a new target of $47.00, reflecting confidence in the company's performance.
• The company's recent earnings report showed an EPS of $0.38, surpassing estimates and demonstrating strong revenue growth of 18.5% compared to the previous year.

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

Several other research analysts also recently commented on WTRG. Barclays lifted their target price on Essential Utilities from $42.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday. Jefferies Financial Group boosted their price objective on Essential Utilities from $43.00 to $47.00 and gave the company a "buy" rating in a research note on Friday. Weiss Ratings reissued a "hold (c)" rating on shares of Essential Utilities in a research note on Wednesday. Robert W. Baird boosted their price objective on Essential Utilities from $46.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, August 4th. Finally, UBS Group boosted their price objective on Essential Utilities from $42.00 to $47.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Essential Utilities presently has an average rating of "Moderate Buy" and an average price target of $45.17.

Essential Utilities Stock Up 0.5%

Shares of WTRG opened at $40.69 on Friday. The company has a market capitalization of $11.41 billion, a PE ratio of 17.46, a PEG ratio of 3.71 and a beta of 0.82. Essential Utilities has a 12 month low of $33.18 and a 12 month high of $41.65. The stock's 50-day moving average price is $38.80 and its two-hundred day moving average price is $38.60. The company has a current ratio of 0.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.13.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.29 by $0.09. The firm had revenue of $514.91 million for the quarter, compared to the consensus estimate of $462.70 million. Essential Utilities had a return on equity of 10.10% and a net margin of 27.62%.The business's quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. Essential Utilities has set its FY 2025 guidance at 2.070-2.110 EPS. On average, analysts anticipate that Essential Utilities will post 1.99 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WTRG. SouthState Corp raised its stake in Essential Utilities by 834.7% during the 2nd quarter. SouthState Corp now owns 701 shares of the company's stock worth $26,000 after buying an additional 626 shares during the period. Headlands Technologies LLC acquired a new position in Essential Utilities during the 1st quarter worth approximately $31,000. Kennebec Savings Bank acquired a new position in Essential Utilities during the 2nd quarter worth approximately $31,000. Valley National Advisers Inc. acquired a new position in Essential Utilities during the 1st quarter worth approximately $33,000. Finally, National Pension Service raised its stake 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 buying an additional 407 shares during the period. 74.78% of the stock is owned by institutional investors and hedge funds.

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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