Shares of Essential Utilities Inc. (NYSE:WTRG) traded at a new 12-month high today of $53.20. So far today approximately 164,000 shares have been exchanged, as compared to an average 30-day volume of 1.1 million shares.
Based on a current price of $53.20, Essential Utilities Inc. is currently 32.6% above its average consensus analyst price target of $35.84.
Essential Utilities is a Pennsylvania-based holding company for U.S. water, wastewater, and natural gas distribution utilities. The company’s water business serves 3 million people in eight states. Nearly three fourths of its water earnings come from Pennsylvania, primarily suburban Philadelphia. It also has a small market-based water business that provides water and water services to third parties, notably natural gas producers. Its $4.3 billion Peoples Gas acquisition that closed in March 2020 adds 750,000 gas distribution customers in Pennsylvania, West Virginia, and Kentucky.
In the past 12 months, shares of Essential Utilities Inc. have traded between a low of $41.11 and a high of $53.20 and are now at $53.20, which is 29% above that low price.
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