Aqua America (NYSE:WTR) had its price objective boosted by research analysts at Argus to $41.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm presently has a “buy” rating on the utilities provider’s stock. Argus’ price target suggests a potential upside of 10.01% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. Boenning Scattergood reiterated a “buy” rating and set a $43.00 price objective on shares of Aqua America in a research report on Wednesday, November 1st. Zacks Investment Research upgraded shares of Aqua America from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Tuesday, October 3rd. Robert W. Baird reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Aqua America in a research note on Sunday, October 1st. Wells Fargo & Company raised shares of Aqua America from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research note on Thursday, October 19th. Finally, Barclays increased their target price on shares of Aqua America from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, September 22nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $38.67.
Aqua America (NYSE:WTR) traded down $0.86 during midday trading on Wednesday, reaching $37.27. 636,100 shares of the company’s stock were exchanged, compared to its average volume of 551,128. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.01. The company has a market cap of $6,775.34, a P/E ratio of 28.67, a P/E/G ratio of 4.43 and a beta of 0.59. Aqua America has a 52-week low of $29.41 and a 52-week high of $38.20.
Aqua America (NYSE:WTR) last issued its earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. The company had revenue of $215.01 million during 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 business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.41 EPS. research analysts forecast that Aqua America will post 1.36 earnings per share for the current fiscal year.
In other Aqua America news, VP David Smeltzer sold 10,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $36.36, for a total transaction of $363,600.00. Following the completion of the transaction, the vice president now owns 71,397 shares in the company, valued at $2,595,994.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 75,500 shares of company stock valued at $11,325 in the last 90 days. 0.25% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in Aqua America during the third quarter valued at approximately $302,000. Wealthcare Advisory Partners LLC bought a new stake in Aqua America during the third quarter valued at approximately $680,000. California Public Employees Retirement System raised its stake in shares of Aqua America by 5.1% during the third quarter. California Public Employees Retirement System now owns 512,580 shares of the utilities provider’s stock worth $17,013,000 after acquiring an additional 25,030 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Aqua America by 8.4% during the third quarter. Janney Montgomery Scott LLC now owns 100,093 shares of the utilities provider’s stock worth $3,322,000 after acquiring an additional 7,720 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Aqua America during the third quarter worth approximately $279,000. Institutional investors own 51.70% of the company’s stock.
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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).