Aqua America Inc (NYSE:WTR) declared a quarterly dividend on Monday, November 5th, Wall Street Journal reports. Shareholders of record on Friday, November 16th will be given a dividend of 0.219 per share by the utilities provider on Saturday, December 1st. This represents a $0.88 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, November 15th.
Aqua America has increased its dividend payment by an average of 7.7% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Aqua America has a payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Aqua America to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 59.1%.
WTR stock traded up $0.11 during mid-day trading on Monday, reaching $33.03. The company had a trading volume of 964,343 shares, compared to its average volume of 606,131. The company has a quick ratio of 0.68, a current ratio of 0.75 and a debt-to-equity ratio of 1.09. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 4.43 and a beta of 0.50. Aqua America has a 52 week low of $32.12 and a 52 week high of $39.55.
A number of research firms have weighed in on WTR. ValuEngine downgraded Aqua America from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. Macquarie set a $35.00 price target on Aqua America and gave the company a “hold” rating in a research note on Thursday, October 25th. Zacks Investment Research downgraded Aqua America from a “buy” rating to a “hold” rating in a research note on Monday, October 22nd. Evercore ISI began coverage on Aqua America in a research note on Monday, September 17th. They issued an “in-line” rating and a $37.00 price target for the company. Finally, Boenning Scattergood upgraded Aqua America from a “neutral” rating to an “outperform” rating in a research note on Monday, August 20th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $37.83.
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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