Aqua America Inc (WTR) to Issue Quarterly Dividend of $0.23 on September 1st

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Aqua America Inc (NYSE:WTR) announced a quarterly dividend on Thursday, July 25th, RTT News reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.2343 per share by the utilities provider on Sunday, September 1st. This represents a $0.94 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Thursday, August 15th. This is a boost from Aqua America’s previous quarterly dividend of $0.22.

Aqua America has increased its dividend payment by an average of 7.3% annually over the last three years and has raised its dividend every year for the last 11 years. Aqua America has a dividend payout ratio of 67.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Aqua America to earn $1.59 per share next year, which means the company should continue to be able to cover its $0.94 annual dividend with an expected future payout ratio of 59.1%.

Shares of NYSE:WTR opened at $43.96 on Tuesday. The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 4.82 and a beta of 0.41. The company has a debt-to-equity ratio of 0.72, a current ratio of 5.31 and a quick ratio of 0.29. The stock’s 50-day moving average price is $41.52. Aqua America has a 12 month low of $32.09 and a 12 month high of $44.13.

Aqua America (NYSE:WTR) last posted its earnings results on Tuesday, August 6th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Aqua America had a net margin of 17.18% and a return on equity of 10.13%. The company had revenue of $218.90 million during the quarter, compared to analyst estimates of $221.07 million. During the same quarter last year, the business posted $0.37 EPS. Aqua America’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Aqua America will post 1.47 EPS for the current year.

A number of equities research analysts have weighed in on the company. HSBC set a $46.00 price objective on Aqua America and gave the company a “buy” rating in a research note on Friday, June 28th. Macquarie set a $37.00 price objective on Aqua America and gave the company a “hold” rating in a research note on Monday, April 22nd. UBS Group lowered Aqua America from a “buy” rating to a “neutral” rating and raised their price objective for the company from $42.00 to $45.00 in a research note on Thursday, August 8th. They noted that the move was a valuation call. Janney Montgomery Scott restated a “buy” rating and set a $44.00 price objective (up previously from $41.00) on shares of Aqua America in a research note on Monday, May 6th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Aqua America from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price 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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Dividend History for Aqua America (NYSE:WTR)

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