Barclays Maintains an 'Equalweight' on Aqua America (WTR); Good Growth in 3Q, Despite Weather Headwinds; Growth Targets Remain on Track
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Price: $51.94 --0%
Rating Summary:
5 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 26
Rating Summary:
5 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 13 | New: 26
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Barclays maintains an 'Equalweight' on Aqua America (NYSE: WTR) price target raised $1 to $22.00.
Barclays analyst says, "WTR reported $0.33 of operating earnings for 3Q11, which was roughly in line with consensus. Revenues were up 2%, while income from continuing operations showed a 13% increase, adjusting for several items. Capex for the year is expected to be $330-335 million, which is ~$5 million above previous estimates. O&M costs continued to come down, and rate cases are largely on-track. We are increasing our estimates for 2011/2012/2013 from $1.00/$1.07/$1.14 to $1.04/$1.10/$1.17, reflecting a small improvement in cost management...We still view WTR as a best-in-class water utility, but believe the market is fairly discounting that in the current valuation."
For more ratings news on Aqua America click here and for the rating history of Aqua America click here.
Shares of Aqua America closed at $21.97 yesterday.
Barclays analyst says, "WTR reported $0.33 of operating earnings for 3Q11, which was roughly in line with consensus. Revenues were up 2%, while income from continuing operations showed a 13% increase, adjusting for several items. Capex for the year is expected to be $330-335 million, which is ~$5 million above previous estimates. O&M costs continued to come down, and rate cases are largely on-track. We are increasing our estimates for 2011/2012/2013 from $1.00/$1.07/$1.14 to $1.04/$1.10/$1.17, reflecting a small improvement in cost management...We still view WTR as a best-in-class water utility, but believe the market is fairly discounting that in the current valuation."
For more ratings news on Aqua America click here and for the rating history of Aqua America click here.
Shares of Aqua America closed at $21.97 yesterday.
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