Rockefeller Capital Management L.P. raised its stake in shares of Aqua America Inc (NYSE:WTR) by 19.0% during the third quarter, HoldingsChannel.com reports. The firm owned 27,923 shares of the utilities provider’s stock after buying an additional 4,450 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Aqua America were worth $1,030,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of WTR. Royal Bank of Canada increased its position in Aqua America by 4.3% during the 1st quarter. Royal Bank of Canada now owns 215,463 shares of the utilities provider’s stock valued at $7,340,000 after purchasing an additional 8,897 shares during the period. Allianz Asset Management GmbH increased its position in Aqua America by 102.2% during the 1st quarter. Allianz Asset Management GmbH now owns 819,855 shares of the utilities provider’s stock valued at $27,924,000 after purchasing an additional 414,464 shares during the period. State of Alaska Department of Revenue increased its position in Aqua America by 39.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 19,545 shares of the utilities provider’s stock valued at $687,000 after purchasing an additional 5,570 shares during the period. Mitchell Sinkler & Starr PA purchased a new position in Aqua America during the 2nd quarter valued at $769,000. Finally, Ledyard National Bank increased its position in Aqua America by 3.7% during the 2nd quarter. Ledyard National Bank now owns 54,866 shares of the utilities provider’s stock valued at $1,931,000 after purchasing an additional 1,975 shares during the period. 54.07% of the stock is currently owned by institutional investors and hedge funds.
WTR has been the topic of a number of research analyst reports. Boenning Scattergood raised shares of Aqua America from a “neutral” rating to an “outperform” rating in a research report on Monday, August 20th. Evercore ISI initiated coverage on shares of Aqua America in a report on Monday, September 17th. They set an “in-line” rating and a $37.00 target price on the stock. Zacks Investment Research cut shares of Aqua America from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Macquarie set a $35.00 target price on shares of Aqua America and gave the company a “hold” rating in a report on Thursday, October 25th. Finally, Wells Fargo & Co set a $35.00 target price on shares of Aqua America and gave the company a “hold” rating in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $38.29.
Shares of WTR stock opened at $32.59 on Wednesday. Aqua America Inc has a 12 month low of $32.12 and a 12 month high of $39.55. The firm has a market cap of $5.86 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 4.43 and a beta of 0.50. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09.
Aqua America (NYSE:WTR) last announced its earnings results on Monday, November 5th. The utilities provider reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. Aqua America had a net margin of 29.97% and a return on equity of 12.71%. The firm had revenue of $226.10 million for the quarter, compared to analysts’ expectations of $238.86 million. During the same quarter in the previous year, the business posted $0.43 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts expect that Aqua America Inc will post 1.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Friday, November 16th will be issued a dividend of $0.219 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.69%. 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 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.
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