Aqua America, Inc. (NYSE:WTR) has earned an average recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $36.67.
A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Aqua America from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. BidaskClub upgraded shares of Aqua America from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Boenning Scattergood restated an “outperform” rating on shares of Aqua America in a research report on Tuesday, September 5th. Robert W. Baird restated a “hold” rating and set a $32.00 target price on shares of Aqua America in a research report on Sunday, October 1st. Finally, Wells Fargo & Company upgraded shares of Aqua America from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Thursday, October 19th.
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In related news, insider Robert A. Rubin sold 12,499 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $34.46, for a total value of $430,715.54. Following the completion of the transaction, the insider now owns 80,604 shares of the company’s stock, valued at approximately $2,777,613.84. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of WTR. Benjamin F. Edwards & Company Inc. lifted its stake in Aqua America by 10.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,480 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 431 shares during the last quarter. IFP Advisors Inc lifted its stake in Aqua America by 20.8% in the 2nd quarter. IFP Advisors Inc now owns 4,701 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 809 shares during the last quarter. Barrett Asset Management LLC bought a new position in Aqua America in the 2nd quarter valued at approximately $197,000. Huntington National Bank lifted its stake in Aqua America by 6.7% in the 2nd quarter. Huntington National Bank now owns 5,950 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 375 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in Aqua America in the 2nd quarter valued at approximately $206,000. 50.95% of the stock is owned by institutional investors and hedge funds.
Aqua America (WTR) traded up 0.42% during midday trading on Friday, reaching $35.62. The company’s stock had a trading volume of 389,942 shares. Aqua America has a 52 week low of $28.03 and a 52 week high of $36.27. The firm has a market cap of $6.33 billion, a P/E ratio of 27.19 and a beta of 0.54. The firm has a 50 day moving average price of $34.30 and a 200-day moving average price of $33.40.
Aqua America (NYSE:WTR) last announced its earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.34. Aqua America had a net margin of 28.59% and a return on equity of 12.51%. The firm had revenue of $203.40 million for the quarter, compared to analyst estimates of $208.28 million. During the same quarter in the prior year, the business posted $0.33 EPS. The business’s revenue was down .2% compared to the same quarter last year. On average, analysts forecast that Aqua America will post $1.36 earnings per share for the current fiscal year.
The company also recently declared a dec 17 dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be given a dividend of $0.2047 per share. The ex-dividend date is Thursday, November 16th. This represents a dividend yield of 2.3%. Aqua America’s dividend payout ratio is 62.60%.
Aqua America Company Profile
Aqua America, Inc is a holding company. The Company is engaged in providing water or wastewater services concentrated in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana and Virginia. The Company is the holding company for its primary subsidiary, Aqua Pennsylvania, Inc Its market-based activities are conducted through Aqua Resources, Inc (Aqua Resources) and Aqua Infrastructure, LLC (Aqua Infrastructure).
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