Aqua America Inc (NYSE:WTR) – Investment analysts at Boenning Scattergood decreased their Q4 2018 earnings estimates for Aqua America in a research note issued to investors on Tuesday, November 6th. Boenning Scattergood analyst R. Connors now expects that the utilities provider will post earnings per share of $0.30 for the quarter, down from their prior estimate of $0.32. Boenning Scattergood has a “Buy” rating and a $43.00 price target on the stock. Boenning Scattergood also issued estimates for Aqua America’s Q1 2019 earnings at $0.27 EPS, Q2 2019 earnings at $0.39 EPS, Q3 2019 earnings at $0.49 EPS, Q4 2019 earnings at $0.36 EPS and FY2019 earnings at $1.51 EPS.
WTR has been the subject of a number of other reports. Wells Fargo & Co set a $35.00 target price on Aqua America and gave the company a “hold” rating in a report on Tuesday. ValuEngine lowered Aqua America from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. Zacks Investment Research upgraded Aqua America from a “sell” rating to a “hold” rating in a report on Monday, July 16th. Evercore ISI assumed coverage on Aqua America in a report on Monday, September 17th. They issued an “in-line” rating and a $37.00 target price for the company. Finally, Macquarie set a $35.00 target price on Aqua America and gave the company a “hold” rating in a report on Thursday, October 25th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $38.29.
Aqua America (NYSE:WTR) last released its earnings results on Monday, November 5th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $226.10 million during the quarter, compared to analyst estimates of $238.86 million. Aqua America had a return on equity of 12.64% and a net margin of 29.81%. Aqua America’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Friday, November 16th will be paid a $0.219 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Thursday, November 15th. Aqua America’s dividend payout ratio is presently 64.23%.
Institutional investors have recently bought and sold shares of the business. Tompkins Financial Corp acquired a new stake in Aqua America in the second quarter valued at $128,000. City Holding Co. acquired a new stake in Aqua America in the second quarter valued at $136,000. Arlington Partners LLC acquired a new stake in Aqua America in the third quarter valued at $138,000. Envestnet Asset Management Inc. raised its stake in Aqua America by 70.8% in the second quarter. Envestnet Asset Management Inc. now owns 4,295 shares of the utilities provider’s stock valued at $151,000 after buying an additional 1,780 shares in the last quarter. Finally, Stratos Wealth Partners LTD. acquired a new stake in Aqua America in the third quarter valued at $179,000. Institutional investors own 54.07% of the company’s stock.
About Aqua America
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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