Aqua America, Inc. (WTR) Rating Reiterated by Robert W. Baird
Aqua America, Inc. (NYSE:WTR)‘s stock had its “hold” rating restated by equities research analysts at Robert W. Baird in a research note issued to investors on Wednesday. They presently have a $32.00 price objective on the utilities provider’s stock. Robert W. Baird’s price target would indicate a potential downside of 10.94% from the company’s previous close.
Several other analysts have also recently weighed in on WTR. Boenning Scattergood reaffirmed a “buy” rating and set a $43.00 price objective on shares of Aqua America in a research note on Wednesday. BidaskClub raised shares of Aqua America from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research raised shares of Aqua America from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Tuesday, October 3rd. Barclays PLC increased their price target on shares of Aqua America from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, September 22nd. Finally, Wells Fargo & Company raised shares of Aqua America from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Thursday, October 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Aqua America currently has a consensus rating of “Buy” and an average target price of $38.20.
Aqua America (NYSE:WTR) last issued its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.43 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. The firm had revenue of $215.01 million for the quarter, compared to analysts’ expectations of $234.40 million. Aqua America had a net margin of 29.38% and a return on equity of 12.49%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share.
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In other news, insider Robert A. Rubin sold 12,499 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $34.46, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in WTR. Boulegeris Investments Inc. lifted its holdings in Aqua America by 24.1% in the second quarter. Boulegeris Investments Inc. now owns 17,754 shares of the utilities provider’s stock valued at $591,000 after buying an additional 3,450 shares during the period. Crow Point Partners LLC acquired a new position in Aqua America in the third quarter valued at approximately $556,000. Blair William & Co. IL acquired a new position in Aqua America in the second quarter valued at approximately $832,000. Baillie Gifford & Co. lifted its holdings in Aqua America by 1.3% in the second quarter. Baillie Gifford & Co. now owns 397,525 shares of the utilities provider’s stock valued at $13,237,000 after buying an additional 5,207 shares during the period. Finally, Virginia Retirement Systems ET AL lifted its holdings in Aqua America by 19.9% in the second quarter. Virginia Retirement Systems ET AL now owns 34,300 shares of the utilities provider’s stock valued at $1,142,000 after buying an additional 5,700 shares during the period. 50.81% of the stock is currently owned by institutional investors and hedge funds.
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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