Essential Utilities (NYSE:WTRG) Upgraded by Northcoast Research to “Buy” Rating

Essential Utilities (NYSE:WTRG) was upgraded by analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a research report issued on Wednesday, Marketbeat.com reports. The firm presently has a $42.00 price target on the stock. Northcoast Research’s price objective indicates a potential upside of 8.10% from the company’s previous close.

Several other brokerages have also issued reports on WTRG. Zacks Research upgraded Essential Utilities from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Essential Utilities in a research report on Monday. Barclays increased their target price on shares of Essential Utilities from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, October 10th. Janney Montgomery Scott downgraded shares of Essential Utilities from a “buy” rating to a “neutral” rating in a research note on Monday, October 27th. Finally, UBS Group reiterated a “neutral” rating and set a $45.00 price objective (down from $46.00) on shares of Essential Utilities in a research report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Essential Utilities currently has an average rating of “Moderate Buy” and an average price target of $44.00.

Essential Utilities Price Performance

Shares of NYSE:WTRG opened at $38.85 on Wednesday. The firm has a 50 day moving average of $39.73 and a 200-day moving average of $38.64. Essential Utilities has a 12 month low of $33.18 and a 12 month high of $42.37. The company has a current ratio of 0.73, a quick ratio of 0.58 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $10.99 billion, a PE ratio of 16.67, a PEG ratio of 3.11 and a beta of 0.84.

Essential Utilities (NYSE:WTRG) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.06. The business had revenue of $476.97 million for the quarter, compared to analyst estimates of $472.40 million. Essential Utilities had a net margin of 27.62% and a return on equity of 10.10%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, equities research analysts predict that Essential Utilities will post 1.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Essential Utilities

Hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC bought a new stake in Essential Utilities during the 4th quarter worth approximately $638,000. Cetera Investment Advisers grew its stake in shares of Essential Utilities by 6.6% in the first quarter. Cetera Investment Advisers now owns 47,737 shares of the company’s stock worth $1,887,000 after purchasing an additional 2,965 shares during the last quarter. LPL Financial LLC increased its holdings in Essential Utilities by 2.4% in the first quarter. LPL Financial LLC now owns 295,308 shares of the company’s stock valued at $11,674,000 after purchasing an additional 6,839 shares during the period. Natixis Advisors LLC increased its holdings in Essential Utilities by 37.3% in the first quarter. Natixis Advisors LLC now owns 126,594 shares of the company’s stock valued at $5,004,000 after purchasing an additional 34,366 shares during the period. Finally, Commerce Bank raised its position in Essential Utilities by 17.7% during the 1st quarter. Commerce Bank now owns 9,092 shares of the company’s stock worth $359,000 after purchasing an additional 1,364 shares during the last quarter. 74.78% of the stock is currently owned by institutional investors and hedge funds.

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.