Bank of New York Mellon Corp cut its position in Aqua America Inc (NYSE:WTR) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,605,518 shares of the utilities provider’s stock after selling 17,759 shares during the quarter. Bank of New York Mellon Corp owned 1.46% of Aqua America worth $91,662,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Flinton Capital Management LLC raised its position in shares of Aqua America by 5.4% in the 2nd quarter. Flinton Capital Management LLC now owns 28,288 shares of the utilities provider’s stock valued at $995,000 after buying an additional 1,462 shares in the last quarter. BRYN MAWR TRUST Co raised its position in shares of Aqua America by 3.0% in the 2nd quarter. BRYN MAWR TRUST Co now owns 52,281 shares of the utilities provider’s stock valued at $1,839,000 after buying an additional 1,543 shares in the last quarter. Trillium Asset Management LLC raised its position in shares of Aqua America by 3.1% in the 2nd quarter. Trillium Asset Management LLC now owns 56,497 shares of the utilities provider’s stock valued at $1,988,000 after buying an additional 1,692 shares in the last quarter. Ronna Sue Cohen raised its position in shares of Aqua America by 4.0% in the 2nd quarter. Ronna Sue Cohen now owns 44,776 shares of the utilities provider’s stock valued at $1,491,000 after buying an additional 1,737 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Aqua America by 70.8% in the 2nd 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. Institutional investors own 54.07% of the company’s stock.
Several equities analysts have recently commented on the stock. Boenning Scattergood restated a “buy” rating and issued a $43.00 target price on shares of Aqua America in a research report on Tuesday. Wells Fargo & Co set a $35.00 price target on shares of Aqua America and gave the company a “hold” rating in a report on Tuesday. ValuEngine lowered shares of Aqua America from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. Zacks Investment Research raised shares of Aqua America from a “sell” rating to a “hold” rating in a report on Monday, July 16th. Finally, Evercore ISI started coverage on shares of Aqua America in a report on Monday, September 17th. They set an “in-line” rating and a $37.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.29.
Shares of Aqua America stock opened at $33.13 on Friday. The company has a market cap of $5.80 billion, a P/E ratio of 24.18, a P/E/G ratio of 4.35 and a beta of 0.50. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.68 and a current ratio of 0.52. Aqua America Inc has a 1 year low of $32.12 and a 1 year high of $39.55.
Aqua America (NYSE:WTR) last announced its quarterly earnings results on Monday, November 5th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $226.10 million for the quarter, compared to analyst estimates of $238.86 million. Aqua America had a net margin of 29.81% and a return on equity of 12.64%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS. Equities research analysts forecast that Aqua America Inc will post 1.41 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Friday, November 16th will be issued a dividend of $0.219 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Thursday, November 15th. Aqua America’s dividend payout ratio (DPR) is presently 64.23%.
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Aqua America Company Profile
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.
Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers
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