Fintel reports that on November 3, 2023, Edward Jones upgraded their outlook for Essential Utilities (NYSE:WTRG) from Hold to Buy .
Analyst Price Forecast Suggests 33.12% Upside
As of October 31, 2023, the average one-year price target for Essential Utilities is 47.68. The forecasts range from a low of 39.39 to a high of $64.05. The average price target represents an increase of 33.12% from its latest reported closing price of 35.82.
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The projected annual revenue for Essential Utilities is 2,231MM, a decrease of 3.13%. The projected annual non-GAAP EPS is 1.93.
What is the Fund Sentiment?
There are 1021 funds or institutions reporting positions in Essential Utilities. This is a decrease of 52 owner(s) or 4.85% in the last quarter. Average portfolio weight of all funds dedicated to WTRG is 0.22%, a decrease of 3.55%. Total shares owned by institutions decreased in the last three months by 0.25% to 203,435K shares. 
The put/call ratio of WTRG is 3.59, indicating a bearish outlook.
What are Other Shareholders Doing?
Canada Pension Plan Investment Board holds 21,661K shares representing 8.19% ownership of the company. No change in the last quarter.
Amundi holds 8,149K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 7,103K shares, representing an increase of 12.84%. The firm decreased its portfolio allocation in WTRG by 1.92% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 7,484K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 7,316K shares, representing an increase of 2.25%. The firm decreased its portfolio allocation in WTRG by 13.70% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 7,298K shares representing 2.76% ownership of the company. In it's prior filing, the firm reported owning 7,363K shares, representing a decrease of 0.90%. The firm decreased its portfolio allocation in WTRG by 13.20% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 6,143K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 6,177K shares, representing a decrease of 0.55%. The firm decreased its portfolio allocation in WTRG by 13.49% over the last quarter.
Essential Utilities Background Information
(This description is provided by the company.)
Essential is one of the largest publicly traded water, wastewater and natural gas providers in the U.S., serving approximately 5 million people across 10 states under the Aqua and Peoples brands. Essential is committed to excellence in proactive infrastructure investment, regulatory expertise, operational efficiency and environmental stewardship. The company recognizes the importance water and natural gas play in everyday life and is proud to deliver safe, reliable services that contribute to the quality of life in the communities it serves.
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This story originally appeared on Fintel.
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