Aqua America Inc (NYSE:WTR) Sees Significant Growth in Short Interest

Aqua America Inc (NYSE:WTR) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 11,371,200 shares, an increase of 6.7% from the May 15th total of 10,659,200 shares. Based on an average daily volume of 1,700,000 shares, the short-interest ratio is presently 6.7 days. Currently, 6.4% of the shares of the stock are sold short.

Several analysts have commented on the company. Argus raised 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. HSBC set a $46.00 price objective on Aqua America and gave the company a “buy” rating in a report on Friday, June 28th. Macquarie set a $37.00 price objective on Aqua America and gave the company a “hold” rating in a report on Monday, April 22nd. Zacks Investment Research lowered Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, Bank of America set a $68.00 price objective on Inphi and gave the company a “buy” rating in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Aqua America presently has an average rating of “Hold” and a consensus target price of $41.10.

Several large investors have recently modified their holdings of the company. 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 worth $25,000 after buying an additional 628 shares in the last quarter. Bremer Bank National Association purchased a new position in Aqua America during the first quarter worth approximately $25,000. Resources Investment Advisors Inc. purchased a new position in Aqua America during the fourth quarter worth approximately $34,000. Meridian Wealth Management LLC purchased a new position in Aqua America during the first quarter worth approximately $36,000. Finally, Norway Savings Bank purchased a new position in Aqua America during the second quarter worth approximately $37,000. 47.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:WTR traded down $0.95 during trading on Friday, reaching $41.00. The stock had a trading volume of 923,440 shares, compared to its average volume of 918,947. 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 stock has a fifty day moving average of $41.09. The company has a market cap of $8.85 billion, a PE ratio of 29.08, a PEG ratio of 4.71 and a beta of 0.44. Aqua America has a 1-year low of $32.09 and a 1-year high of $42.14.

Aqua America (NYSE:WTR) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.02). The firm had revenue of $201.10 million during the quarter, compared to analyst estimates of $201.17 million. Aqua America had a return on equity of 12.40% and a net margin of 18.71%. The business’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. Research analysts expect that Aqua America will post 1.42 earnings per share for the current year.

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.

See Also: Buy-Side Analysts

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