Oppenheimer Asset Management Inc. acquired a new stake in shares of Aqua America Inc (NYSE:WTR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,348 shares of the utilities provider’s stock, valued at approximately $211,000.
A number of other hedge funds have also recently bought and sold shares of the business. IFP Advisors Inc grew its holdings in shares of Aqua America by 20.8% in the second quarter. IFP Advisors Inc now owns 4,701 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 809 shares during the last quarter. Headinvest LLC bought a new position in shares of Aqua America in the third quarter worth about $203,000. Private Vista LLC bought a new position in shares of Aqua America in the third quarter worth about $205,000. Eqis Capital Management Inc. bought a new position in shares of Aqua America in the third quarter worth about $206,000. Finally, Investment Centers of America Inc. grew its holdings in shares of Aqua America by 0.4% in the second quarter. Investment Centers of America Inc. now owns 7,009 shares of the utilities provider’s stock worth $233,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 51.60% of the company’s stock.
WTR has been the topic of a number of research analyst reports. Robert W. Baird restated a “hold” rating and issued a $32.00 price target on shares of Aqua America in a report on Friday, August 25th. Zacks Investment Research upgraded shares of Aqua America from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Tuesday, October 3rd. Barclays increased their target price on shares of Aqua America from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, September 22nd. Wells Fargo & Company upgraded shares of Aqua America from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Thursday, October 19th. Finally, Boenning Scattergood reiterated a “buy” rating and set a $43.00 target price on shares of Aqua America in a report on Wednesday, November 1st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Aqua America currently has an average rating of “Buy” and a consensus price target of $38.67.
Aqua America (NYSE:WTR) last released its quarterly earnings results on Tuesday, October 31st. The utilities provider reported $0.43 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.43. The business had revenue of $215.01 million during the quarter, compared to analyst estimates of $234.40 million. Aqua America had a net margin of 29.38% and a return on equity of 12.49%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. equities research analysts predict that Aqua America Inc will post 1.36 EPS for the current year.
The company also recently declared a dec 17 dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were given a dividend of $0.2047 per share. This represents a dividend yield of 2.3%. The ex-dividend date was Thursday, November 16th. Aqua America’s payout ratio is 61.65%.
In related news, VP David Smeltzer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $36.36, for a total value of $363,600.00. Following the completion of the transaction, the vice president now directly owns 71,397 shares of the company’s stock, valued at approximately $2,595,994.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have acquired 75,500 shares of company stock valued at $11,325. Insiders own 0.25% of the company’s stock.
Aqua America Profile
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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