Robert W. Baird Increases Essential Utilities (NYSE:WTRG) Price Target to $46.00

Essential Utilities (NYSE:WTRG) had its price target increased by analysts at Robert W. Baird from $45.00 to $46.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 17.60% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Bank of America restated a “buy” rating and issued a $45.00 price target on shares of Essential Utilities in a research note on Friday, September 20th. Jefferies Financial Group initiated coverage on Essential Utilities in a research report on Monday, October 7th. They set a “buy” rating and a $44.00 target price on the stock. Wells Fargo & Company lowered their target price on Essential Utilities from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Evercore ISI lifted their target price on Essential Utilities from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Essential Utilities Stock Performance

WTRG stock opened at $39.12 on Wednesday. The company has a market cap of $10.70 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 3.35 and a beta of 0.84. Essential Utilities has a 1 year low of $33.28 and a 1 year high of $41.78. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.58 and a quick ratio of 0.44. The stock’s fifty day moving average price is $39.03 and its 200-day moving average price is $38.67.

Essential Utilities (NYSE:WTRG) last released its quarterly earnings results on Monday, November 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $435.30 million for the quarter, compared to the consensus estimate of $416.95 million. Essential Utilities had a return on equity of 7.94% and a net margin of 27.84%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. On average, equities analysts forecast that Essential Utilities will post 1.99 earnings per share for the current year.

Institutional Investors Weigh In On Essential Utilities

Several large investors have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Essential Utilities by 4.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 558,821 shares of the company’s stock worth $20,704,000 after acquiring an additional 25,812 shares during the last quarter. Norden Group LLC bought a new stake in Essential Utilities during the first quarter worth approximately $209,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Essential Utilities by 24.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,334 shares of the company’s stock worth $782,000 after acquiring an additional 3,843 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Essential Utilities by 2.8% during the first quarter. Janney Montgomery Scott LLC now owns 140,782 shares of the company’s stock worth $5,216,000 after acquiring an additional 3,779 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in Essential Utilities by 126.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,341 shares of the company’s stock worth $680,000 after acquiring an additional 10,254 shares during the last quarter. 74.78% of the stock is owned by institutional investors.

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.