Essential Utilities (NYSE:WTRG) Upgraded at Argus

Key Points

• Argus upgraded Essential Utilities to a "strong-buy" while the analyst mix remains mixed — two Strong Buy, one Buy, five Hold and one Sell — leaving a MarketBeat consensus rating of Hold with a $43.20 price target.
• The company beat quarterly expectations, reporting $0.47 EPS vs. $0.36 expected and $699.1M in revenue vs. $611.6M expected, with revenue up 15.7% year-over-year and a net margin of 24.91%.
• Shares opened at $39.97, with a market cap of $11.32 billion and a trailing P/E of 18.08, trading in a 12-month range of $36.32 to $42.37.

Essential Utilities (NYSE:WTRG - Get Free Report) was upgraded by analysts at Argus to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the stock. Barclays set a $38.00 price objective on shares of Essential Utilities and gave the company an "underweight" rating in a research report on Wednesday, December 17th. Northcoast Research upgraded Essential Utilities from a "neutral" rating to a "buy" rating and set a $42.00 target price for the company in a report on Wednesday, December 3rd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Essential Utilities in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $43.20.

Essential Utilities Trading Up 0.1%

NYSE:WTRG opened at $39.97 on Monday. The company has a 50-day moving average price of $39.41 and a 200-day moving average price of $39.14. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of 18.08 and a beta of 0.82. The company has a current ratio of 0.80, a quick ratio of 0.65 and a debt-to-equity ratio of 1.18. Essential Utilities has a 12 month low of $36.32 and a 12 month high of $42.37.

Essential Utilities (NYSE:WTRG - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.36 by $0.11. The business had revenue of $699.11 million for the quarter, compared to analysts' expectations of $611.60 million. Essential Utilities had a net margin of 24.91% and a return on equity of 9.18%. The business's revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. Equities analysts predict that Essential Utilities will post 1.99 EPS for the current year.

Hedge Funds Weigh In On Essential Utilities

Institutional investors and hedge funds have recently bought and sold shares of the business. GoalVest Advisory LLC purchased a new position in shares of Essential Utilities during the 4th quarter worth $25,000. American National Bank & Trust acquired a new position in shares of Essential Utilities in the third quarter valued at approximately $27,000. Fideuram Asset Management Ireland dac purchased a new stake in shares of Essential Utilities during the fourth quarter worth $27,000. Atlantic Union Bankshares Corp increased its holdings in Essential Utilities by 1,163.8% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 733 shares of the company's stock worth $29,000 after purchasing an additional 675 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Essential Utilities in the fourth quarter valued at approximately $32,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.

About Essential Utilities

Essential Utilities, Inc, formerly known as Aqua America, is a publicly traded water and natural gas utility holding company. Through its regulated water and wastewater subsidiaries, the company provides essential water services to residential, commercial and industrial customers. In addition, Essential Utilities delivers natural gas distribution services in Pennsylvania through its Peoples Gas subsidiary, offering integrated utility solutions under a unified corporate framework.

The company traces its roots to the Philadelphia Suburban Water Company, founded in 1886 to serve growing communities outside Philadelphia.

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