Essential Utilities (NYSE:WTRG) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Essential Utilities (NYSE:WTRG – Get Rating) from a hold rating to a sell rating in a research note issued to investors on Monday morning.

Several other research analysts also recently commented on the stock. Northcoast Research downgraded shares of Essential Utilities from a buy rating to a neutral rating in a research note on Thursday, May 18th. Royal Bank of Canada reiterated an outperform rating and issued a $54.00 price target on shares of Essential Utilities in a report on Thursday, March 16th. Wells Fargo & Company cut their price target on shares of Essential Utilities from $53.00 to $52.00 and set an overweight rating on the stock in a report on Tuesday, February 28th. Finally, UBS Group upgraded shares of Essential Utilities from a neutral rating to a buy rating and lifted their price target for the company from $54.00 to $55.00 in a report on Monday, February 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $52.38.

Essential Utilities Price Performance

Shares of WTRG opened at $40.16 on Monday. Essential Utilities has a 1 year low of $38.50 and a 1 year high of $52.42. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.63 and a quick ratio of 0.52. The company has a market capitalization of $10.62 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 3.92 and a beta of 0.79. The business has a 50-day moving average of $42.64 and a 200-day moving average of $45.16.

Essential Utilities (NYSE:WTRG – Get Rating) last released its quarterly earnings data on Monday, May 8th. The company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.02). Essential Utilities had a net margin of 19.75% and a return on equity of 8.48%. The firm had revenue of $726.45 million for the quarter, compared to the consensus estimate of $682.87 million. During the same quarter in the prior year, the firm earned $0.76 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Essential Utilities will post 1.86 earnings per share for the current year.

Insider Activity

In other Essential Utilities news, CEO Chris Franklin purchased 37,245 shares of Essential Utilities stock in a transaction dated Wednesday, March 8th. The stock was purchased at an average price of $40.70 per share, with a total value of $1,515,871.50. Following the transaction, the chief executive officer now directly owns 37,245 shares of the company’s stock, valued at $1,515,871.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Essential Utilities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WealthPLAN Partners LLC bought a new position in Essential Utilities in the 1st quarter worth approximately $25,000. BOKF NA bought a new position in Essential Utilities in the 1st quarter worth approximately $27,000. EWG Elevate Inc. bought a new position in Essential Utilities in the 4th quarter worth approximately $29,000. Atlantic Private Wealth LLC bought a new position in Essential Utilities in the 1st quarter worth approximately $28,000. Finally, OLD Mission Capital LLC bought a new position in Essential Utilities in the 4th quarter worth approximately $34,000. 69.96% of the stock is owned by hedge funds and other institutional investors.

About Essential Utilities

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Essential Utilities, Inc is a holding company, which engages in providing water, wastewater and natural gas services through its subsidiaries. It operates through the Regulated Water and Regulated Natural Gas segments. The Regulated Water segment includes water and wastewater regulated utility companies.