Aqua America (NYSE:WTR) Announces Quarterly Earnings Results

Aqua America (NYSE:WTR) released its quarterly earnings results on Tuesday. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.02), Bloomberg Earnings reports. Aqua America had a return on equity of 12.40% and a net margin of 18.71%. The firm had revenue of $218.90 million during the quarter, compared to analysts’ expectations of $221.07 million. During the same period in the prior year, the firm posted $0.37 earnings per share. Aqua America’s revenue for the quarter was up 3.3% compared to the same quarter last year. Aqua America updated its FY19 guidance to $1.45 to $1.50 EPS.

NYSE WTR opened at $41.15 on Wednesday. The firm has a market capitalization of $9.04 billion, a P/E ratio of 29.18, a PEG ratio of 4.81 and a beta of 0.41. The firm’s fifty day simple moving average is $41.38. Aqua America has a 1 year low of $32.09 and a 1 year high of $42.31. The company has a quick ratio of 0.29, a current ratio of 0.33 and a debt-to-equity ratio of 1.24.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 16th will be given a dividend of $0.2343 per share. The ex-dividend date is Thursday, August 15th. This is an increase from Aqua America’s previous quarterly dividend of $0.22. This represents a $0.94 dividend on an annualized basis and a yield of 2.28%. Aqua America’s payout ratio is currently 62.41%.

Several research firms have issued reports on WTR. Zacks Investment Research lowered shares of Aqua America from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Bank of America began coverage on shares of Aqua America in a report on Monday, July 15th. They issued a “buy” rating and a $45.00 price target on the stock. Janney Montgomery Scott reissued a “buy” rating and set a $44.00 price objective (up from $41.00) on shares of Aqua America in a report on Monday, May 6th. They noted that the move was a valuation call. ValuEngine lowered shares of Aqua America from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, HSBC set a $46.00 price objective on shares of Aqua America and gave the company a “buy” rating in a report on Friday, June 28th. One 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 presently has a consensus rating of “Hold” and an average target price of $41.10.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its position in Aqua America by 1,365.2% during the first quarter. Signaturefd LLC now owns 674 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 628 shares during the period. Bremer Bank National Association acquired a new position in shares of Aqua America in the first quarter worth about $25,000. Oakworth Capital Inc. acquired a new position in shares of Aqua America in the second quarter worth about $28,000. Meridian Wealth Management LLC acquired a new position in shares of Aqua America in the first quarter worth about $36,000. Finally, Norway Savings Bank acquired a new position in shares of Aqua America in the second quarter worth about $37,000. Institutional investors own 47.76% of the company’s stock.

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.

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Earnings History for Aqua America (NYSE:WTR)

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