Aqua America Inc (WTR) Forecasted to Post FY2018 Earnings of $1.40 Per Share
Aqua America Inc (NYSE:WTR) – Analysts at Gabelli issued their FY2018 earnings per share (EPS) estimates for Aqua America in a report issued on Thursday. Gabelli analyst T. Winter expects that the utilities provider will post earnings per share of $1.40 for the year. Gabelli also issued estimates for Aqua America’s FY2019 earnings at $1.55 EPS, FY2020 earnings at $1.65 EPS and FY2021 earnings at $1.80 EPS.
Several other brokerages have also recently issued reports on WTR. Hilliard Lyons raised Aqua America from an “underperform” rating to a “neutral” rating in a research report on Thursday, December 21st. Argus raised their target price on Aqua America from $37.00 to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, December 13th. Zacks Investment Research cut Aqua America from a “buy” rating to a “hold” rating in a research report on Sunday, January 21st. Finally, Wells Fargo & Co cut Aqua America from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $43.00 to $37.00 in a research report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $38.67.
Aqua America (NYSE:WTR) last announced its earnings results on Tuesday, February 27th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $203.30 million for the quarter, compared to analysts’ expectations of $208.26 million. Aqua America had a return on equity of 12.78% and a net margin of 29.61%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.28 earnings per share.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund raised its stake in shares of Aqua America by 0.3% in the third quarter. New York State Common Retirement Fund now owns 501,400 shares of the utilities provider’s stock worth $16,641,000 after buying an additional 1,400 shares during the period. IFP Advisors Inc raised its stake in shares of Aqua America by 31.8% in the third quarter. IFP Advisors Inc now owns 6,196 shares of the utilities provider’s stock worth $206,000 after buying an additional 1,495 shares during the period. Penobscot Investment Management Company Inc. raised its stake in shares of Aqua America by 7.6% in the third quarter. Penobscot Investment Management Company Inc. now owns 21,115 shares of the utilities provider’s stock worth $701,000 after buying an additional 1,500 shares during the period. Prudential Financial Inc. raised its stake in shares of Aqua America by 1.1% in the third quarter. Prudential Financial Inc. now owns 141,067 shares of the utilities provider’s stock worth $4,682,000 after buying an additional 1,540 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Aqua America by 1.9% in the fourth quarter. Bank of Montreal Can now owns 84,210 shares of the utilities provider’s stock worth $3,304,000 after buying an additional 1,605 shares during the period. 52.86% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently disclosed a mar 18 dividend, which was paid on Thursday, March 1st. Stockholders of record on Friday, February 16th were paid a $0.2047 dividend. This represents a dividend yield of 0.00579722458227131%. The ex-dividend date was Thursday, February 15th. Aqua America’s dividend payout ratio (DPR) is currently 60.29%.
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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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