Robert W. Baird Has Lowered Expectations for Essential Utilities (NYSE:WTRG) Stock Price

Essential Utilities (NYSE:WTRG) had its price target decreased by investment analysts at Robert W. Baird from $47.00 to $46.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 17.89% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. UBS Group lowered 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. Evercore ISI boosted their price target 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. Wells Fargo & Company boosted their target price on Essential Utilities from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Jefferies Financial Group raised Essential Utilities from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, January 28th. Finally, StockNews.com upgraded shares of Essential Utilities from a “sell” rating to a “hold” rating in a research note on Sunday, April 20th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Essential Utilities has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Essential Utilities Price Performance

Shares of NYSE WTRG opened at $39.02 on Tuesday. Essential Utilities has a 52 week low of $33.18 and a 52 week high of $41.78. The stock has a market capitalization of $10.75 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 2.57 and a beta of 0.85. The company has a quick ratio of 0.39, a current ratio of 0.55 and a debt-to-equity ratio of 1.17. The firm has a 50-day simple moving average of $39.61 and a 200-day simple moving average of $38.01.

Essential Utilities (NYSE:WTRG) last announced its quarterly earnings results on Monday, May 12th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.23. Essential Utilities had a net margin of 27.84% and a return on equity of 7.89%. The firm had revenue of $783.63 million for the quarter, compared to analysts’ expectations of $713.80 million. During the same quarter in the previous year, the company posted $0.97 EPS. The company’s revenue was up 28.0% compared to the same quarter last year. On average, equities analysts predict that Essential Utilities will post 1.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Essential Utilities

Several hedge funds have recently bought and sold shares of WTRG. Wealth Enhancement Advisory Services LLC raised its position in shares of Essential Utilities by 28.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 60,605 shares of the company’s stock worth $2,338,000 after purchasing an additional 13,518 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Essential Utilities by 219.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 122,581 shares of the company’s stock worth $4,452,000 after purchasing an additional 84,208 shares during the last quarter. Hennessy Advisors Inc. raised its position in shares of Essential Utilities by 2.8% in the 4th quarter. Hennessy Advisors Inc. now owns 175,500 shares of the company’s stock worth $6,374,000 after buying an additional 4,800 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. lifted its stake in shares of Essential Utilities by 0.9% in the 4th quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 201,926 shares of the company’s stock valued at $7,334,000 after purchasing an additional 1,719 shares in the last quarter. Finally, HB Wealth Management LLC lifted its position in Essential Utilities by 8.5% during the fourth quarter. HB Wealth Management LLC now owns 10,919 shares of the company’s stock valued at $397,000 after buying an additional 856 shares in the last quarter. 74.78% of the stock is owned by hedge funds and other institutional investors.

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.