Shares of Aqua America Inc (NYSE:WTR) have received an average rating of “Hold” from the ten analysts that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $37.83.
WTR has been the topic of several research reports. Zacks Investment Research raised Aqua America from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Monday, January 15th. UBS initiated coverage on Aqua America in a research note on Thursday, March 8th. They issued a “neutral” rating and a $36.00 price target for the company. Hilliard Lyons upgraded Aqua America from an “underperform” rating to a “neutral” rating in a research note on Thursday, December 21st. Finally, Wells Fargo cut Aqua America from an “outperform” rating to a “market perform” rating and cut their price target for the company from $43.00 to $37.00 in a research note on Monday, February 26th.
Several hedge funds have recently modified their holdings of WTR. Alliancebernstein L.P. boosted its stake in shares of Aqua America by 898.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,634,841 shares of the utilities provider’s stock valued at $64,135,000 after buying an additional 1,471,060 shares during the period. Amundi Pioneer Asset Management Inc. bought a new stake in Aqua America during the fourth quarter worth $18,629,000. Allianz Asset Management GmbH bought a new stake in Aqua America during the fourth quarter worth $15,903,000. BlackRock Inc. lifted its stake in Aqua America by 2.0% during the fourth quarter. BlackRock Inc. now owns 15,709,669 shares of the utilities provider’s stock worth $616,290,000 after purchasing an additional 312,765 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in Aqua America during the fourth quarter worth $8,101,000. Institutional investors and hedge funds own 53.85% of the company’s stock.
Aqua America (NYSE:WTR) last posted its earnings results on Tuesday, February 27th. The utilities provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. Aqua America had a return on equity of 12.68% and a net margin of 29.61%. The company had revenue of $203.30 million for the quarter, compared to the consensus estimate of $208.26 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. analysts anticipate that Aqua America will post 1.41 EPS for the current year.
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About Aqua America
Aqua America, Inc is a holding company. The Company is engaged in providing water or wastewater services concentrated in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana and Virginia. The Company is the holding company for its primary subsidiary, Aqua Pennsylvania, Inc Its market-based activities are conducted through Aqua Resources, Inc (Aqua Resources) and Aqua Infrastructure, LLC (Aqua Infrastructure).
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