Analysts review Essential Utilities Inc.’s rating

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ZOM Stock
ZOM Stock

In a filing, Essential Utilities Inc. revealed its President Arnold Colleen unloaded Company’s shares for reported $52049.0 on Jun 14. In the deal valued at $41.84 per share,1,244 shares were sold. As a result of this transaction, Arnold Colleen now holds 7,796 shares worth roughly $ 0.29 million.

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Then, Franklin Chris bought 37,245 shares, generating $1,515,872 in total proceeds. Upon buying the shares at $40.70, the Chief Executive Officer now owns 37,245 shares.

Before that, Ruff Ellen T sold 8,560 shares. Essential Utilities Inc. shares valued at $410,503 were divested by the Director at a price of $47.96 per share. As a result of the transaction, Ruff Ellen T now holds 26,972 shares, worth roughly $0.99 million.

Northcoast downgraded its Essential Utilities Inc. [WTRG] rating to a Neutral from a a Buy in a research note published on Friday.

Price Performance Review of WTRG

On Friday, Essential Utilities Inc. [NYSE:WTRG] saw its stock fall -0.57% to $36.69. On the same session, the stock had its day’s lowest price of $36.42, but rose to a high of $37.42. Over the last five days, the stock has lost -1.85%. Essential Utilities Inc. shares have fallen nearly -23.13% since the year began. Nevertheless, the stocks have fallen -25.35% over the past one year. While a 52-week high of $50.35 was reached on 01/12/23, a 52-week low of $36.36 was recorded on 08/21/23. SMA at 50 days reached $39.77, while 200 days put it at $43.38. A total of 0.85 million shares were traded, compared to the trading of 2.44 million shares in the previous session.

Levels Of Support And Resistance For WTRG Stock

The 24-hour chart illustrates a support level at 36.27, which if violated will result in even more drops to 35.84. On the upside, there is a resistance level at 37.27. A further resistance level may holdings at 37.84. The Relative Strength Index (RSI) on the 14-day chart is 29.72, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.11%. Stochastics %K at 16.02% indicates the stock is a buying.

How much short interest is there in Essential Utilities Inc.?

A steep rise in short interest was recorded in Essential Utilities Inc. stocks on Aug 14, 2023, dropping by 40000.0 shares to a total of 3.19 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.23 million shares. There was a decline of -1.25%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.53% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.91.

Essential Utilities Inc. [WTRG] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 26,620,008 shares, or roughly 10.07% of the outstanding WTRG shares. In other words, the investor’s shares have risen by 128,612 from its previous 13-F filing of 26491396.0.. Over the last quarter, SSgA Funds Management, Inc. purchased 348,953 shares of Essential Utilities Inc., while Macquarie Investment Management B bought 6,297,820 shares. At present, Pictet Asset Management SA is holding 5,003,490 shares valued at $211.6 million. KBI Global Investors Ltd. owned 4,527,763 shares of the company at the time of its most recent 13F filing, worth $191.48 million.

According to FactSet, Essential Utilities Inc.’s share price will average $52.14 in the next year, based on opinions of analysts polled by the firm. This is up nearly 38.21 percent from its previous closing price of $36.90. Analysts expect Essential Utilities Inc. stock to reach the higher price of $71.00, while the lowest price estimate is $44.00. However, 10 analysts have rated WTRG stock as an Overweight in their predictions for 2023.

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