Aqua America, Inc. (WTR) Given Consensus Recommendation of “Buy” by Brokerages
Aqua America, Inc. (NYSE:WTR) has received a consensus recommendation of “Buy” from the seven analysts that are covering the firm, Marketbeat Ratings 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 1 year target price among analysts that have issued a report on the stock in the last year is $36.67.
WTR has been the topic of several research analyst reports. Zacks Investment Research lowered Aqua America from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub lowered Aqua America from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Robert W. Baird reissued a “hold” rating and issued a $32.00 price objective on shares of Aqua America in a report on Friday, August 25th. Boenning Scattergood reissued an “outperform” rating on shares of Aqua America in a report on Tuesday, September 5th. Finally, Barclays PLC raised their price objective on Aqua America from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, September 22nd.
In other Aqua America news, insider Robert A. Rubin sold 12,499 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 80,604 shares of the company’s stock, valued at $2,777,613.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Aqua America by 10.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,480 shares of the utilities provider’s stock worth $149,000 after acquiring an additional 431 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Aqua America by 20.8% in the second quarter. IFP Advisors Inc now owns 4,701 shares of the utilities provider’s stock worth $157,000 after acquiring an additional 809 shares during the last quarter. Barrett Asset Management LLC acquired a new stake in shares of Aqua America in the second quarter worth approximately $197,000. Huntington National Bank boosted its stake in shares of Aqua America by 6.7% in the second quarter. Huntington National Bank now owns 5,950 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 375 shares during the last quarter. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Aqua America in the third quarter worth approximately $206,000. 50.96% of the stock is currently owned by institutional investors.
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Aqua America (WTR) traded down 0.03% during midday trading on Friday, hitting $36.02. 580,675 shares of the stock were exchanged. The stock has a market cap of $6.40 billion, a PE ratio of 27.50 and a beta of 0.54. Aqua America has a 1-year low of $28.03 and a 1-year high of $36.27. The company’s 50 day moving average is $34.16 and its 200-day moving average is $33.32.
Aqua America (NYSE:WTR) last announced its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. The company had revenue of $203.40 million during the quarter, compared to analysts’ expectations of $208.28 million. Aqua America had a return on equity of 12.51% and a net margin of 28.59%. Aqua America’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the business earned $0.33 earnings per share. On average, analysts expect that Aqua America will post $1.36 earnings per share for the current year.
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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