Aqua America (WTR) Upgraded by Boenning Scattergood to Outperform

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Boenning Scattergood upgraded shares of Aqua America (NYSE:WTR) from a neutral rating to an outperform rating in a report issued on Monday, MarketBeat.com reports.

WTR has been the topic of several other research reports. Zacks Investment Research cut shares of Aqua America from a hold rating to a sell rating in a research report on Saturday, July 7th. ValuEngine cut shares of Aqua America from a buy rating to a hold rating in a research report on Thursday, May 10th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $38.29.

Shares of NYSE WTR opened at $37.90 on Monday. Aqua America has a 1 year low of $32.37 and a 1 year high of $39.55. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.75. The stock has a market cap of $6.63 billion, a P/E ratio of 27.67, a P/E/G ratio of 5.00 and a beta of 0.42.

Aqua America (NYSE:WTR) last announced its quarterly earnings results on Wednesday, August 1st. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Aqua America had a net margin of 29.97% and a return on equity of 12.71%. The company had revenue of $211.90 million for the quarter, compared to analysts’ expectations of $211.73 million. During the same quarter in the previous year, the company earned $0.34 earnings per share. Aqua America’s quarterly revenue was up 4.2% on a year-over-year basis. equities analysts predict that Aqua America will post 1.4 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 1st. Investors of record on Friday, August 17th will be paid a dividend of $0.219 per share. The ex-dividend date is Thursday, August 16th. This represents a $0.88 annualized dividend and a yield of 2.31%. This is a positive change from Aqua America’s previous quarterly dividend of $0.20. Aqua America’s payout ratio is presently 64.23%.

A number of large investors have recently bought and sold shares of WTR. Fenimore Asset Management Inc. bought a new stake in Aqua America during the second quarter worth about $24,199,000. Allianz Asset Management GmbH boosted its stake in Aqua America by 102.2% during the first quarter. Allianz Asset Management GmbH now owns 819,855 shares of the utilities provider’s stock worth $27,924,000 after acquiring an additional 414,464 shares in the last quarter. BlackRock Inc. boosted its stake in Aqua America by 2.4% during the first quarter. BlackRock Inc. now owns 16,087,084 shares of the utilities provider’s stock worth $547,925,000 after acquiring an additional 377,415 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in Aqua America by 62.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 772,540 shares of the utilities provider’s stock worth $26,313,000 after acquiring an additional 297,682 shares in the last quarter. Finally, Rockland Trust Co. bought a new stake in Aqua America during the second quarter worth about $9,359,000. 54.06% of the stock is currently owned by institutional investors and hedge funds.

About Aqua America

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.

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Analyst Recommendations for Aqua America (NYSE:WTR)

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