Essential Utilities (NYSE:WTRG) Shares Up 4.2% – Time to Buy?

Essential Utilities, Inc. (NYSE:WTRG)’s share price was up 4.2% on Thursday . The company traded as high as $41.17 and last traded at $41.06. Approximately 441,066 shares were traded during trading, a decline of 70% from the average daily volume of 1,450,424 shares. The stock had previously closed at $39.39.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WTRG shares. Evercore ISI increased their target price on Essential Utilities from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. Wells Fargo & Company raised their price objective on shares of Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. UBS Group lowered their target price on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. StockNews.com upgraded shares of Essential Utilities from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Jefferies Financial Group upgraded Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $43.50.

Essential Utilities Stock Down 2.5 %

The company has a market cap of $10.92 billion, a P/E ratio of 19.81, a PEG ratio of 2.57 and a beta of 0.80. The business’s 50 day moving average price is $37.56 and its 200-day moving average price is $37.84. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.55 and a quick ratio of 0.39.

Essential Utilities (NYSE:WTRG) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $604.38 million for the quarter, compared to the consensus estimate of $698.77 million. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. On average, analysts anticipate that Essential Utilities, Inc. will post 1.99 earnings per share for the current fiscal year.

Essential Utilities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.3255 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.30 dividend on an annualized basis and a yield of 3.29%. Essential Utilities’s payout ratio is presently 59.91%.

Hedge Funds Weigh In On Essential Utilities

Large investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Essential Utilities during the fourth quarter worth $102,600,000. Vanguard Group Inc. grew its stake in Essential Utilities by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 30,061,135 shares of the company’s stock valued at $1,091,820,000 after acquiring an additional 2,245,256 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of Essential Utilities by 31.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,726,215 shares of the company’s stock worth $244,296,000 after acquiring an additional 1,597,672 shares in the last quarter. Cohen & Steers Inc. acquired a new stake in shares of Essential Utilities during the fourth quarter worth about $52,355,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Essential Utilities by 16.7% during the 4th quarter. Nordea Investment Management AB now owns 6,811,851 shares of the company’s stock valued at $247,134,000 after purchasing an additional 972,803 shares in the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

About Essential Utilities

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.