Aqua America (WTR) PT Raised to $41.00
Aqua America (NYSE:WTR) had its price target lifted by equities research analysts at Argus from $37.00 to $41.00 in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the utilities provider’s stock. Argus’ price target would suggest a potential upside of 9.19% from the stock’s current price.
Several other research analysts also recently weighed in on WTR. Robert W. Baird reiterated a “hold” rating and set a $32.00 price target on shares of Aqua America in a research note on Sunday, October 1st. Zacks Investment Research upgraded Aqua America from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Tuesday, October 3rd. Boenning Scattergood reiterated a “buy” rating and set a $43.00 price target on shares of Aqua America in a research note on Wednesday, November 1st. Barclays raised their target price on Aqua America from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, September 22nd. Finally, Wells Fargo & Company upgraded Aqua America from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Thursday, October 19th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $38.67.
Aqua America (WTR) opened at $37.55 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.48 and a current ratio of 0.55. The firm has a market capitalization of $6,670.00, a price-to-earnings ratio of 28.02, a PEG ratio of 4.98 and a beta of 0.59. Aqua America has a 12 month low of $29.41 and a 12 month high of $38.20.
Aqua America (NYSE:WTR) last posted its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $215.01 million during the quarter, compared to the consensus estimate 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 prior year, the company earned $0.41 EPS. research analysts forecast that Aqua America will post 1.36 earnings per share for the current fiscal year.
In other Aqua America news, VP David Smeltzer sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 71,397 shares in the company, valued at approximately $2,595,994.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders acquired 75,500 shares of company stock valued at $11,325. 0.25% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. IFP Advisors Inc raised its holdings in shares of 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 acquiring an additional 809 shares in the last quarter. Headinvest LLC purchased a new stake in shares of Aqua America in the 3rd quarter valued at about $203,000. Private Vista LLC purchased a new stake in shares of Aqua America in the 3rd quarter valued at about $205,000. Eqis Capital Management Inc. purchased a new stake in shares of Aqua America in the 3rd quarter valued at about $206,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Aqua America in the 3rd quarter valued at about $211,000. 51.70% of the stock is currently owned by hedge funds and other institutional investors.
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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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