Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in Aqua America Inc (NYSE:WTR) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,919 shares of the utilities provider’s stock after acquiring an additional 1,799 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Aqua America were worth $5,900,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ruggie Capital Group purchased a new position in shares of Aqua America during the 4th quarter worth approximately $26,000. Resources Investment Advisors Inc. purchased a new position in shares of Aqua America during the 4th quarter worth approximately $34,000. Massey Quick Simon & CO. LLC grew its holdings in shares of Aqua America by 120.5% during the 1st quarter. Massey Quick Simon & CO. LLC now owns 1,098 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 600 shares during the period. Bell Rock Capital LLC grew its holdings in shares of Aqua America by 308.3% during the 4th quarter. Bell Rock Capital LLC now owns 1,327 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 1,002 shares during the period. Finally, First Command Financial Services Inc. purchased a new position in shares of Aqua America during the 4th quarter worth approximately $46,000. 46.42% of the stock is owned by institutional investors.
WTR traded up $0.15 during trading on Friday, hitting $39.09. 5,614 shares of the company’s stock traded hands, compared to its average volume of 3,196,197. The company has a current ratio of 0.33, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. Aqua America Inc has a 12-month low of $32.09 and a 12-month high of $39.44. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 4.37 and a beta of 0.48.
Aqua America (NYSE:WTR) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). Aqua America had a net margin of 18.71% and a return on equity of 12.40%. The business had revenue of $201.10 million for the quarter, compared to analysts’ expectations of $201.17 million. During the same quarter in the prior year, the business posted $0.29 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, research analysts forecast that Aqua America Inc will post 1.49 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.219 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.88 annualized dividend and a yield of 2.24%. Aqua America’s dividend payout ratio is 62.41%.
Several analysts recently weighed in on WTR shares. 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. Janney Montgomery Scott restated a “buy” rating and issued 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. Boenning Scattergood restated a “buy” rating and issued a $43.00 price target on shares of Aqua America in a research note on Wednesday, January 30th. Zacks Investment Research downgraded Aqua America from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Finally, UBS Group upgraded Aqua America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $36.00 to $42.00 in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $39.57.
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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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