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Stock Market & Financial Investment News

News Breaks
February 7, 2013
07:49 EDTWTRAqua America price target raised to $35 from $29 at Brean Capital
Brean Capital raised its price target and its estimates on Aqua America to reflect expected positive tax impacts from its adoption of repair tax accounting methodology as well as anticipated long-term earnings momentum. Shares are Outperform rated.
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September 8, 2014
17:39 EDTWTRAqua America unit acquires assets of Caroline Water Company
Aqua America announced that its Virginia subsidiary has purchased the water system assets of the Caroline Water Company in Caroline County. The system serves about 3,000 people in the Lake Caroline community in Ruther Glen, Virginia. The Caroline Water Company is Aqua’s ninth regulated utility acquisition so far this year. Aqua paid $1.1M for the water system and plans to spend approximately $1.9M over the next 5 years for capital improvements to the system including major investments in the water treatment plant. Lake Caroline is Aqua’s second surface water plant in Virginia. The plant has been offline since April 2009, and Aqua will install a new water treatment plant and a bulk water storage tank to bring the system into compliance. Currently, water is purchased through an interconnection with the county water system. Lake Caroline is about one mile south of Aqua’s Lake Land’Or water and wastewater systems and provides a cost-effective tuck-in opportunity.

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