Essential Utilities (NYSE:WTRG) Given New $41.00 Price Target at Wells Fargo & Company

Essential Utilities (NYSE:WTRG) had its price target increased by investment analysts at Wells Fargo & Company from $39.00 to $41.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.11% from the stock’s current price.

WTRG has been the subject of several other research reports. Jefferies Financial Group raised shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, January 28th. Robert W. Baird increased their price target on Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, UBS Group dropped their price objective on Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $43.33.

Essential Utilities Trading Down 0.7 %

Shares of NYSE WTRG traded down $0.28 during trading hours on Thursday, hitting $37.24. 323,212 shares of the company traded hands, compared to its average volume of 1,462,676. The company’s 50 day moving average price is $35.54 and its 200 day moving average price is $37.86. Essential Utilities has a 12 month low of $33.18 and a 12 month high of $41.78. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 2.57 and a beta of 0.87. The company has a current ratio of 0.55, a quick ratio of 0.39 and a debt-to-equity ratio of 1.17.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brooklyn Investment Group bought a new stake in Essential Utilities during the 3rd quarter valued at $26,000. VSM Wealth Advisory LLC bought a new stake in shares of Essential Utilities in the fourth quarter valued at about $26,000. Darwin Wealth Management LLC bought a new stake in shares of Essential Utilities in the third quarter valued at about $28,000. First Horizon Advisors Inc. lifted its stake in Essential Utilities by 61.4% in the third quarter. First Horizon Advisors Inc. now owns 773 shares of the company’s stock worth $30,000 after acquiring an additional 294 shares during the period. Finally, IFP Advisors Inc grew its holdings in Essential Utilities by 75.0% during the 4th quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock worth $40,000 after acquiring an additional 473 shares in the last quarter. 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.