Ropes Wealth Advisors LLC acquired a new position in Aqua America Inc (NYSE:WTR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,000 shares of the utilities provider’s stock, valued at approximately $41,000.
Other institutional investors also recently made changes to their positions in the company. 6 Meridian boosted its stake in Aqua America by 1.8% during the second quarter. 6 Meridian now owns 14,182 shares of the utilities provider’s stock worth $587,000 after buying an additional 244 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in Aqua America by 0.8% during the second quarter. Clear Harbor Asset Management LLC now owns 37,058 shares of the utilities provider’s stock worth $1,533,000 after buying an additional 286 shares in the last quarter. State Treasurer State of Michigan boosted its stake in Aqua America by 0.5% during the second quarter. State Treasurer State of Michigan now owns 63,816 shares of the utilities provider’s stock worth $2,640,000 after buying an additional 300 shares in the last quarter. ETF Managers Group LLC boosted its stake in Aqua America by 7.7% during the first quarter. ETF Managers Group LLC now owns 4,258 shares of the utilities provider’s stock worth $155,000 after buying an additional 303 shares in the last quarter. Finally, First Personal Financial Services boosted its stake in Aqua America by 1.2% during the first quarter. First Personal Financial Services now owns 29,987 shares of the utilities provider’s stock worth $1,093,000 after buying an additional 345 shares in the last quarter. Institutional investors and hedge funds own 49.58% of the company’s stock.
Aqua America stock opened at $43.24 on Thursday. The firm has a 50-day simple moving average of $41.59. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.31 and a quick ratio of 0.29. Aqua America Inc has a 12-month low of $32.09 and a 12-month high of $44.13. The company has a market capitalization of $9.49 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 4.88 and a beta of 0.41.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 16th will be issued a $0.2343 dividend. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.17%. This is a boost from Aqua America’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, August 15th. Aqua America’s payout ratio is currently 62.41%.
A number of research analysts have issued reports on WTR shares. Zacks Investment Research cut Aqua America from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Evercore ISI reissued a “hold” rating and set a $37.00 price objective on shares of Aqua America in a report on Sunday. Argus lifted 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. ValuEngine cut Aqua America from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, Macquarie set a $37.00 price objective on Aqua America and gave the company a “hold” rating in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $41.40.
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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