Aqua America, Inc. (WTR) Receives $38.25 Average Target Price from Brokerages
Shares of Aqua America, Inc. (NYSE:WTR) have been given a consensus recommendation of “Buy” by the seven brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $38.25.
A number of research analysts have issued reports on the company. Robert W. Baird reiterated a “hold” rating and set a $32.00 price objective on shares of Aqua America in a research note on Wednesday, November 1st. Boenning Scattergood reiterated a “buy” rating and set a $43.00 price objective on shares of Aqua America in a research note on Wednesday, November 1st. Wells Fargo & Company upgraded Aqua America from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Thursday, October 19th. Zacks Investment Research cut Aqua America from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Finally, Barclays PLC lifted their price objective on Aqua America from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, September 22nd.
In other Aqua America news, insider Robert A. Rubin sold 12,499 shares of Aqua America stock in a transaction on Monday, September 11th. The stock was sold at an average price of $34.46, for a total value of $430,715.54. Following the completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, VP David Smeltzer sold 10,000 shares of Aqua America stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $36.36, for a total value of $363,600.00. Following the completion of the sale, the vice president now directly owns 71,397 shares of the company’s stock, valued at approximately $2,595,994.92. The disclosure for this sale can be found here. In the last three months, insiders acquired 75,500 shares of company stock valued at $11,325. Corporate insiders own 0.25% of the company’s stock.
Several institutional investors have recently bought and sold shares of WTR. OppenheimerFunds Inc. bought a new stake in shares of Aqua America in the 1st quarter worth $211,000. Teachers Advisors LLC increased its holdings in shares of Aqua America by 3.9% in the 1st quarter. Teachers Advisors LLC now owns 236,225 shares of the utilities provider’s stock worth $7,595,000 after purchasing an additional 8,765 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Aqua America by 15.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 752,519 shares of the utilities provider’s stock worth $24,193,000 after purchasing an additional 101,689 shares in the last quarter. Creative Planning increased its holdings in shares of Aqua America by 6.3% in the 2nd quarter. Creative Planning now owns 35,933 shares of the utilities provider’s stock worth $1,197,000 after purchasing an additional 2,134 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Aqua America by 4.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 65,267 shares of the utilities provider’s stock worth $2,173,000 after acquiring an additional 2,790 shares during the period. 51.62% of the stock is owned by institutional investors and hedge funds.
Shares of Aqua America (NYSE:WTR) traded down $0.24 during trading hours on Thursday, reaching $36.37. The company’s stock had a trading volume of 398,662 shares, compared to its average volume of 576,129. The stock has a market capitalization of $6,462.61, a PE ratio of 27.35, a price-to-earnings-growth ratio of 4.22 and a beta of 0.57. Aqua America has a 1-year low of $29.24 and a 1-year high of $37.30. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.01.
Aqua America (NYSE:WTR) last announced its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.43. The business had revenue of $215.01 million during the quarter, compared to analysts’ expectations of $234.40 million. Aqua America had a return on equity of 12.49% and a net margin of 29.38%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. sell-side analysts predict that Aqua America will post 1.36 EPS for the current fiscal year.
The firm also recently announced a dec 17 dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be issued a $0.2047 dividend. This represents a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, November 16th. Aqua America’s payout ratio is 61.65%.
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About Aqua America
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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