Essential Utilities (NYSE:WTRG) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Essential Utilities (NYSE:WTRG) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Other equities analysts have also recently issued research reports about the stock. Evercore ISI raised their price objective on shares of Essential Utilities from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. Jefferies Financial Group upgraded shares of Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Tuesday, January 28th. UBS Group cut their price objective on shares of Essential Utilities from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Wells Fargo & Company raised their target price on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.50.

Essential Utilities Price Performance

Shares of WTRG opened at $40.13 on Friday. The firm has a fifty day simple moving average of $38.02 and a two-hundred day simple moving average of $37.84. The firm has a market cap of $11.06 billion, a PE ratio of 20.07, a P/E/G ratio of 2.57 and a beta of 0.80. 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 has a 1-year low of $33.18 and a 1-year high of $41.78.

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

Essential Utilities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders 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 annualized dividend and a dividend yield of 3.24%. Essential Utilities’s payout ratio is 59.91%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. VSM Wealth Advisory LLC bought a new position in shares of Essential Utilities in the fourth quarter worth about $26,000. American National Bank & Trust bought a new position in Essential Utilities in the 1st quarter worth approximately $35,000. IFP Advisors Inc raised its position in shares of Essential Utilities by 75.0% during the fourth quarter. IFP Advisors Inc now owns 1,104 shares of the company’s stock valued at $40,000 after buying an additional 473 shares during the last quarter. Orion Capital Management LLC purchased a new position in shares of Essential Utilities in the fourth quarter worth $41,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Essential Utilities in the fourth quarter worth $45,000. Institutional investors own 74.78% of the company’s stock.

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.