RBC Capital analyst Shelby Tucker maintained a Buy rating on Essential Utilities (WTRG – Research Report) on May 18 and set a price target of $54.00. The company’s shares closed last Friday at $40.25.
Tucker covers the Utilities sector, focusing on stocks such as Clearway Energy, American Electric Power, and American Water. According to TipRanks, Tucker has an average return of 9.5% and a 64.52% success rate on recommended stocks.
Essential Utilities has an analyst consensus of Moderate Buy, with a price target consensus of $51.40, a 27.70% upside from current levels. In a report released on May 10, Wells Fargo also maintained a Buy rating on the stock with a $50.00 price target.
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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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