State of Alaska Department of Revenue increased its stake in shares of Aqua America Inc (NYSE:WTR) by 6.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 36,643 shares of the utilities provider’s stock after buying an additional 2,216 shares during the period. State of Alaska Department of Revenue’s holdings in Aqua America were worth $1,515,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Aqua America by 0.8% during the 1st quarter. BlackRock Inc. now owns 17,157,997 shares of the utilities provider’s stock worth $625,238,000 after purchasing an additional 140,328 shares during the last quarter. Geode Capital Management LLC raised its holdings in Aqua America by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 1,761,248 shares of the utilities provider’s stock worth $60,217,000 after purchasing an additional 101,342 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in Aqua America by 21.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,745,986 shares of the utilities provider’s stock worth $63,623,000 after purchasing an additional 311,577 shares during the last quarter. Ronna Sue Cohen raised its holdings in Aqua America by 3,399.3% during the 1st quarter. Ronna Sue Cohen now owns 1,618,826 shares of the utilities provider’s stock worth $1,619,000 after purchasing an additional 1,572,564 shares during the last quarter. Finally, Norges Bank bought a new stake in Aqua America during the 4th quarter worth about $47,303,000. Institutional investors and hedge funds own 47.76% of the company’s stock.
Shares of WTR stock traded down $0.30 on Monday, reaching $41.60. The company had a trading volume of 15,998 shares, compared to its average volume of 939,340. The company has a current ratio of 0.33, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $9.04 billion, a PE ratio of 29.45, a PEG ratio of 4.81 and a beta of 0.41. The stock’s 50-day simple moving average is $41.37. Aqua America Inc has a 12 month low of $32.09 and a 12 month high of $42.31.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Friday, August 16th will be paid a $0.2343 dividend. The ex-dividend date is Thursday, August 15th. This is a boost from Aqua America’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.25%. Aqua America’s dividend payout ratio is 62.41%.
WTR has been the subject of several recent research reports. ValuEngine cut Aqua America from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Argus boosted their price objective on Aqua America from $2.00 to $43.00 in a report on Wednesday, June 5th. They noted that the move was a valuation call. Macquarie set a $37.00 price objective on Aqua America and gave the stock a “hold” rating in a report on Monday, April 22nd. Zacks Investment Research cut Aqua America from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, HSBC set a $46.00 price objective on Aqua America and gave the stock a “buy” rating in a report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $41.10.
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 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.
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