In a report released on May 7, Shelby Tucker from RBC Capital maintained a Buy rating on Essential Utilities (WTRG – Research Report), with a price target of $42.00. The company’s shares closed yesterday at $39.24.
According to TipRanks, Tucker is a top 100 analyst with an average return of 10.5% and a 73.02% success rate. Tucker covers the Utilities sector, focusing on stocks such as PPL, Atlantica Yield, and American Water.
Essential Utilities has an analyst consensus of Strong Buy, with a price target consensus of $41.80, which is a 6.52% upside from current levels. In a report released on May 6, Robert W. Baird also maintained a Buy rating on the stock with a $43.00 price target.
Based on Essential Utilities’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $479.42 million and a net profit of $135.45 million. In comparison, last year the company earned a revenue of $705.38 million and had a net profit of $114.93 million
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WTRG in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Essential Utilities (WTRG) Company Description:
Essential Utilities, Inc. is a holding company, which engages in the provision of water and wastewater services. It supports a range of customers across Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana, and Virginia. It also provides services through operating and maintenance contracts with municipal authorities and other parties including water and sewer line repair service and protection solutions to households. The company was founded in 1968 and is headquartered in Bryn Mawr, PA.
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