The stock of Essential Utilities Inc. (NYSE:WTRG) last traded at $47.73, down -1.43% from the previous session.
Data from the available sources indicates that Essential Utilities Inc. (NYSE:WTRG) is covered by 10 analysts. The consensus rating among analysts is ‘Overweight’. WTRG stock price is now 3.40% away from the 50-day moving average and 1.81% away from the 200-day moving average. The market capitalization of the company currently stands at $12.70B.
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In total, 3 analysts have assigned it a hold rating, and 5 have given it a buy rating.
With the price target maintained at $52, BofA Securities recently Downgraded its rating from Buy to Neutral for Essential Utilities Inc. (NYSE: WTRG). On August 18, 2022, HSBC Securities Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock increasing its target price from $53 to quote $57, while ‘Evercore ISI’ rates the stock as ‘Outperform’.
In other news, Ruff Ellen T, Director sold 8,560 shares of the company’s stock on Nov 28. The stock was sold for $410,503 at an average price of $47.96. Upon completion of the transaction, the Director now directly owns 26,972 shares in the company, valued at $1.29 million. Insiders disposed of 20,266 shares of company stock worth roughly $0.97 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in WTRG stock. A new stake in Essential Utilities Inc. shares was purchased by GREAT WEST LIFE ASSURANCE CO /CAN/ during the first quarter worth $43,675,000. BALYASNY ASSET MANAGEMENT LLC invested $30,830,000 in shares of WTRG during the first quarter. In the first quarter, BNP PARIBAS ARBITRAGE, SNC acquired a new stake in Essential Utilities Inc. valued at approximately $15,260,000. T. ROWE PRICE INVESTMENT MANAGEMENT, INC. acquired a new stake in WTRG for approximately $10,976,000. AMALGAMATED FINANCIAL CORP. purchased a new stake in WTRG valued at around $7,625,000 in the second quarter. In total, there are 874 active investors with 78.00% ownership of the company’s stock.
With an opening price of $48.30 on Friday morning, Essential Utilities Inc. (NYSE: WTRG) set off the trading day. During the past 12 months, Essential Utilities Inc. has had a low of $38.50 and a high of $53.93. As of last week, the company has a debt-to-equity ratio of 1.22, a current ratio of 0.60, and a quick ratio of 0.40. The fifty day moving average price for WTRG is $46.29 and a two-hundred day moving average price translates $46.88 for the stock.
The latest earnings results from Essential Utilities Inc. (NYSE: WTRG) was released for Jun, 2022. According to the Utilities – Regulated Water Company, earnings per share came in at $0.31, inline with analysts’ expectations of $0.31. This compares to $0.19 EPS in the same period last year. The net profit margin was 22.00% and return on equity was 8.80% for WTRG. The company reported revenue of $434.62 million for the quarter, compared to $361.86 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 20.11 percent. For the current quarter, analysts expect WTRG to generate $391.36M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/01/2023. Investors who held shares on 02/10/2023 were paid a $0.287 dividend. On an annualized basis, this represents a $1.15 dividend and a 2.41% percent yield. There was an ex-dividend date of 02/09/2023 for this dividend. In terms of dividend payout ratio, WTRG is presently at 61.30%.
Essential Utilities Inc.(WTRG) Company Profile
Essential Utilities, Inc., through its subsidiaries, operates regulated utilities that provide water, wastewater, or natural gas services in the United States. It offers water services through operating and maintenance contract with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry; and water and sewer line protection solutions, and repair services to households through a third-party. It serves approximately 7.5 million residential water, commercial water, fire protection, industrial water, wastewater, and other water and utility customers in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana, Virginia, West Virginia, and Kentucky under the Aqua and Peoples brands. The company was formerly known as Aqua America, Inc. and changed its name to Essential Utilities, Inc. in February 2020. Essential Utilities, Inc. was founded in 1886 and is headquartered in Bryn Mawr, Pennsylvania.
