Aqua America Inc Announces Quarterly Dividend of $0.22 (WTR)

Aqua America Inc (NYSE:WTR) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Shareholders of record on Friday, May 17th will be paid a dividend of 0.219 per share by the utilities provider on Saturday, June 1st. This represents a $0.88 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, May 16th.

Aqua America has raised its dividend payment by an average of 7.3% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Aqua America has a payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Aqua America to earn $1.59 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 55.3%.

Shares of WTR stock opened at $38.90 on Wednesday. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 4.42 and a beta of 0.48. Aqua America has a 52 week low of $32.09 and a 52 week high of $39.44. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 0.33.

Aqua America (NYSE:WTR) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The company had revenue of $201.10 million during the quarter, compared to analysts’ expectations of $201.17 million. Aqua America had a return on equity of 12.40% and a net margin of 18.71%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. As a group, equities analysts expect that Aqua America will post 1.49 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on WTR. Janney Montgomery Scott restated a “buy” rating and set a $44.00 target price (up from $41.00) on shares of Aqua America in a research report on Monday, May 6th. They noted that the move was a valuation call. Macquarie set a $37.00 target price on shares of Aqua America and gave the company a “hold” rating in a research report on Monday, April 22nd. Zacks Investment Research cut shares of Aqua America from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. UBS Group upgraded shares of Aqua America from a “neutral” rating to a “buy” rating and upped their target price for the company from $36.00 to $42.00 in a research report on Tuesday, March 19th. Finally, ValuEngine cut shares of Aqua America from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $39.57.

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Aqua America Company Profile

Aqua America, Inc, through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water 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; and water and sewer line protection solutions, and repair services to households through third-party.

Further Reading: Systematic Risk and Investors

Dividend History for Aqua America (NYSE:WTR)

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