Jennison Associates LLC Invests $99.80 Million in Aqua America Inc (NYSE:WTR)

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Jennison Associates LLC bought a new position in shares of Aqua America Inc (NYSE:WTR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,412,296 shares of the utilities provider’s stock, valued at approximately $99,797,000. Jennison Associates LLC owned approximately 1.12% of Aqua America as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund grew its holdings in shares of Aqua America by 3.9% during the first quarter. Texas Permanent School Fund now owns 120,958 shares of the utilities provider’s stock worth $4,408,000 after buying an additional 4,516 shares during the last quarter. Carroll Financial Associates Inc. grew its holdings in shares of Aqua America by 47.7% during the second quarter. Carroll Financial Associates Inc. now owns 3,495 shares of the utilities provider’s stock worth $144,000 after buying an additional 1,129 shares during the last quarter. HL Financial Services LLC grew its holdings in shares of Aqua America by 12.0% during the first quarter. HL Financial Services LLC now owns 9,676 shares of the utilities provider’s stock worth $353,000 after buying an additional 1,039 shares during the last quarter. Pennsylvania Trust Co grew its holdings in shares of Aqua America by 5.3% during the first quarter. Pennsylvania Trust Co now owns 83,229 shares of the utilities provider’s stock worth $3,033,000 after buying an additional 4,175 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Aqua America by 7.1% during the first quarter. Private Advisor Group LLC now owns 70,126 shares of the utilities provider’s stock worth $2,556,000 after buying an additional 4,675 shares during the last quarter. 52.76% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Daniel J. Hilferty III purchased 1,153 shares of Aqua America stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $43.35 per share, for a total transaction of $49,982.55. Following the transaction, the director now owns 8,720 shares in the company, valued at $378,012. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by insiders.

WTR traded down $0.74 during trading on Friday, reaching $43.34. The company’s stock had a trading volume of 529,827 shares, compared to its average volume of 1,279,927. Aqua America Inc has a 52-week low of $32.09 and a 52-week high of $44.60. The company’s fifty day moving average price is $42.13 and its 200-day moving average price is $38.99. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 4.95 and a beta of 0.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 5.27 and a current ratio of 5.31.

Aqua America (NYSE:WTR) last announced its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.02). Aqua America had a net margin of 17.18% and a return on equity of 10.13%. The business 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 EPS. Aqua America’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts predict that Aqua America Inc will post 1.47 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders 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 yield of 2.16%. The ex-dividend date of this dividend is Thursday, August 15th. This is a positive change from Aqua America’s previous quarterly dividend of $0.22. Aqua America’s payout ratio is currently 66.67%.

A number of equities analysts recently issued reports on the company. Zacks Investment Research raised Aqua America from a “sell” rating to a “hold” rating and set a $47.00 price target on the stock in a report on Thursday. Janney Montgomery Scott reissued a “buy” rating and set a $44.00 price target (up previously from $41.00) on shares of Aqua America in a report on Monday, May 6th. They noted that the move was a valuation call. UBS Group lowered Aqua America from a “buy” rating to a “neutral” rating and raised their price target for the stock from $42.00 to $45.00 in a report on Thursday, August 8th. They noted that the move was a valuation call. Evercore ISI reaffirmed a “hold” rating and issued a $37.00 price objective on shares of Aqua America in a report on Sunday, August 11th. Finally, Bank of America assumed coverage on Aqua America in a report on Monday, July 15th. They issued a “buy” rating and a $45.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Aqua America has a consensus rating of “Hold” and an average target price of $41.91.

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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Institutional Ownership by Quarter for Aqua America (NYSE:WTR)

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