Crow Point Partners LLC Acquires New Stake in Aqua America, Inc. (WTR)
Crow Point Partners LLC acquired a new position in Aqua America, Inc. (NYSE:WTR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,748 shares of the utilities provider’s stock, valued at approximately $556,000.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Aqua America by 1.6% in the second quarter. Vanguard Group Inc. now owns 17,208,005 shares of the utilities provider’s stock worth $573,026,000 after buying an additional 277,406 shares in the last quarter. BlackRock Inc. raised its position in shares of Aqua America by 2,818.7% in the first quarter. BlackRock Inc. now owns 15,234,276 shares of the utilities provider’s stock worth $489,782,000 after buying an additional 14,712,330 shares in the last quarter. Pictet Asset Management Ltd. raised its position in shares of Aqua America by 21.0% in the second quarter. Pictet Asset Management Ltd. now owns 4,246,581 shares of the utilities provider’s stock worth $138,821,000 after buying an additional 735,706 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Aqua America by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 2,681,653 shares of the utilities provider’s stock worth $89,300,000 after buying an additional 40,655 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Aqua America by 7.3% in the first quarter. Geode Capital Management LLC now owns 1,397,830 shares of the utilities provider’s stock worth $44,940,000 after buying an additional 95,204 shares in the last quarter. Institutional investors own 50.96% of the company’s stock.
Aqua America, Inc. (WTR) traded down 0.37% during midday trading on Wednesday, reaching $35.13. The company’s stock had a trading volume of 155,965 shares. The firm has a 50 day moving average price of $33.89 and a 200 day moving average price of $33.22. Aqua America, Inc. has a one year low of $28.03 and a one year high of $35.43. The firm has a market cap of $6.24 billion, a P/E ratio of 26.82 and a beta of 0.54.
Aqua America (NYSE:WTR) last released its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. Aqua America had a net margin of 28.59% and a return on equity of 12.51%. The business had revenue of $203.40 million during the quarter, compared to the consensus estimate of $208.28 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The business’s revenue was down .2% on a year-over-year basis. Equities research analysts forecast that Aqua America, Inc. will post $1.36 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on WTR shares. Zacks Investment Research upgraded Aqua America from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Tuesday, October 3rd. BidaskClub upgraded Aqua America from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Robert W. Baird reiterated a “hold” rating and issued a $32.00 price objective on shares of Aqua America in a research report on Sunday, October 1st. Boenning Scattergood reiterated an “outperform” rating on shares of Aqua America in a research report on Tuesday, September 5th. Finally, Barclays PLC increased their price objective on Aqua America from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Friday, September 22nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $36.00.
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In other Aqua America news, insider Robert A. Rubin sold 12,499 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $34.46, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.
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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