Santori & Peters Inc. bought a new position in shares of Aqua America Inc (NYSE:WTR) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 6,828 shares of the utilities provider’s stock, valued at approximately $282,000.
Several other hedge funds and other institutional investors also recently modified their holdings of WTR. Ronna Sue Cohen boosted its position in shares of Aqua America by 3,399.3% during the 1st quarter. Ronna Sue Cohen now owns 1,618,826 shares of the utilities provider’s stock worth $1,619,000 after purchasing an additional 1,572,564 shares in the last quarter. Norges Bank acquired a new position in shares of Aqua America during the 4th quarter worth $47,303,000. Nordea Investment Management AB raised its stake in shares of Aqua America by 12,238,028.6% during the 1st quarter. Nordea Investment Management AB now owns 856,669 shares of the utilities provider’s stock worth $31,218,000 after buying an additional 856,662 shares during the last quarter. Artemis Investment Management LLP acquired a new position in shares of Aqua America during the 2nd quarter worth $17,482,000. Finally, Amundi Pioneer Asset Management Inc. raised its stake in shares of Aqua America by 21.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,745,986 shares of the utilities provider’s stock worth $63,623,000 after buying an additional 311,577 shares during the last quarter. Institutional investors own 47.76% of the company’s stock.
Several research firms have recently issued reports on WTR. Argus lifted their price target on Aqua America from $2.00 to $43.00 in a research note on Wednesday, June 5th. They noted that the move was a valuation call. Janney Montgomery Scott reaffirmed a “buy” rating and set a $44.00 price target (up previously from $41.00) on shares of Aqua America in a research note on Monday, May 6th. They noted that the move was a valuation call. Bank of America began coverage on Aqua America in a research note on Monday, July 15th. They set a “buy” rating and a $45.00 price target for the company. Zacks Investment Research downgraded Aqua America from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Finally, Macquarie set a $37.00 price target on Aqua America and gave the stock a “hold” rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Aqua America has an average rating of “Hold” and a consensus price target of $41.40.
Aqua America (NYSE:WTR) last announced its earnings results on Tuesday, August 6th. The utilities provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Aqua America had a net margin of 17.18% and a return on equity of 10.13%. The firm had revenue of $218.90 million during the quarter, compared to analyst estimates of $221.07 million. During the same period in the previous year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts predict that Aqua America Inc will post 1.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 16th will be paid a $0.2343 dividend. This is an increase from Aqua America’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.94 annualized dividend and a yield of 2.18%. Aqua America’s payout ratio is presently 62.41%.
Aqua America Profile
Aqua America, Inc, through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water 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; and water and sewer line protection solutions, and repair services to households through third-party.
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