In a report released on May 9, Ben Kallo from Robert W. Baird reiterated a Buy rating on Essential Utilities (WTRG – Research Report), with a price target of $54.00. The company’s shares opened today at $42.72.
Kallo covers the Consumer Goods sector, focusing on stocks such as Tesla, Rivian Automotive, and Darling Ingredients. According to TipRanks, Kallo has an average return of 5.5% and a 49.28% success rate on recommended stocks.
In addition to Robert W. Baird, Essential Utilities also received a Buy from Wells Fargo’s Jonathan Reeder in a report issued yesterday. However, on May 8, Bank of America Securities reiterated a Hold rating on Essential Utilities (NYSE: WTRG).
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Based on Essential Utilities’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $726.45 million and a net profit of $191.43 million. In comparison, last year the company earned a revenue of $699.28 million and had a net profit of $193.54 million
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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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