Aqua America (WTR) Has Yield, Initiative for Second Look - Cramer
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Aqua America Inc. (NYSE: WTR) is trading strong Wednesday as CEO Nick Debenedictis spoke with Jim Cramer on Tuesday night.
Debenedictis said his company still provides some of the least-expensive water around. Though the company is aiming to expand into the energy industry, he noted that there was still gobs of potential in privatizing water delivery for local municipalities. Though some have been "more progressive" in the latter area, he noted that keeping up with the Environmental Protection Agency is proving fruitless.
All of Aqua America's plants have converted into solar power, Debenedictis said, which is cheaper than other alternatives. Additionally, the company is aiming to convert its vehicles to use compressed natural gas.
In terms of growth, Debenedictis said that company is investing heavily in infrastructure (piping) and will spend over $330 million in 2013 on the effort.
Those willing to take a look will also notice that Aqua America raised its quarterly dividend about 9 percent to 19 cents, or 76 cents annualized. Yield on the new payout is about 2.4 percent.
Year-to-date, Aqua America is up about 29 percent and is trading just a point or two below its 52-week high of $33.28. Shares are up 1.8 percent today.
Debenedictis said his company still provides some of the least-expensive water around. Though the company is aiming to expand into the energy industry, he noted that there was still gobs of potential in privatizing water delivery for local municipalities. Though some have been "more progressive" in the latter area, he noted that keeping up with the Environmental Protection Agency is proving fruitless.
All of Aqua America's plants have converted into solar power, Debenedictis said, which is cheaper than other alternatives. Additionally, the company is aiming to convert its vehicles to use compressed natural gas.
In terms of growth, Debenedictis said that company is investing heavily in infrastructure (piping) and will spend over $330 million in 2013 on the effort.
Those willing to take a look will also notice that Aqua America raised its quarterly dividend about 9 percent to 19 cents, or 76 cents annualized. Yield on the new payout is about 2.4 percent.
Year-to-date, Aqua America is up about 29 percent and is trading just a point or two below its 52-week high of $33.28. Shares are up 1.8 percent today.
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