Aqua America (NYSE:WTR) received a $35.00 price objective from stock analysts at Wells Fargo & Co in a research note issued to investors on Tuesday. The brokerage currently has a “hold” rating on the utilities provider’s stock. Wells Fargo & Co’s price target points to a potential upside of 7.39% from the company’s current price.
Several other research analysts have also recently weighed in on the company. Boenning Scattergood raised Aqua America from a “neutral” rating to an “outperform” rating in a research report on Monday, August 20th. Evercore ISI initiated coverage on Aqua America in a research report on Monday, September 17th. They issued an “in-line” rating and a $37.00 price objective on the stock. Zacks Investment Research cut Aqua America from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. ValuEngine raised Aqua America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. Finally, Macquarie set a $35.00 price objective on Aqua America and gave the stock a “hold” rating in a research report on Thursday, October 25th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $38.29.
Aqua America stock traded down $0.44 during trading on Tuesday, hitting $32.59. 878,714 shares of the company were exchanged, compared to its average volume of 607,289. Aqua America has a 52 week low of $32.12 and a 52 week high of $39.55. The company has a market capitalization of $5.86 billion, a P/E ratio of 23.79, a price-to-earnings-growth ratio of 4.43 and a beta of 0.50. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09.
Aqua America (NYSE:WTR) last posted its quarterly earnings data on Monday, November 5th. The utilities provider reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Aqua America had a return on equity of 12.71% and a net margin of 29.97%. The business had revenue of $226.10 million for the quarter, compared to analysts’ expectations of $238.86 million. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. On average, analysts predict that Aqua America will post 1.39 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tompkins Financial Corp purchased a new position in shares of Aqua America during the 2nd quarter valued at $128,000. Arlington Partners LLC purchased a new stake in Aqua America during the 3rd quarter worth about $138,000. City Holding Co. purchased a new stake in Aqua America during the 2nd quarter worth about $136,000. Envestnet Asset Management Inc. lifted its holdings in Aqua America by 70.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 4,295 shares of the utilities provider’s stock worth $151,000 after purchasing an additional 1,780 shares in the last quarter. Finally, Stratos Wealth Partners LTD. purchased a new stake in Aqua America during the 3rd quarter worth about $179,000. 54.07% of the stock is currently owned by hedge funds and other institutional investors.
Aqua America Company Profile
Aqua America, Inc, through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water and wastewater services through operating and maintenance contracts with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry.
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