Essential Utilities (WTRG) / Aqua America (WTR)

Aqua America adquiere la utility de gas natural Peoples. Presentación: http://ir.aquaamerica.com/static-files/c0fc2658-adc5-4022-87ac-0b40ce69978a

Esta empresa ha salido varias veces en otros hilos: en el del sector agua, en el de Lluís, etc…

Creo también que el sector del agua es un sector con mucho futuro, regulado e imprescindible actualmente. Tener “agua” en la cartera es imprescindible. Sé que con Nestle cubres algo por sus muchas marcas de agua embotellada, pero creo que vale la pena incluir también tratamiento de aguas, así que le he echado un ojo:

Web de accionistas:

“Aqua America is the second-largest publicly traded water utility based in the U.S., and serves more than 3 million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR.”

Este es el historial de dividendos.

Segun la lista CCC lleva 26 años incrementando dividendos aunque la RPD es algo baja, sobre un 2.25%. Mirando la gráfica de evolución del dividendo de Dividend Channel parece que lleva muchos menos años, pero esto es debido a que ha hecho muchos splits:

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De los resultados de 2018 parece que el dividendo es sostenible:

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En unos días publicará resultados.

Los resultados del 1erQ de 2019:

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Una excelente empresa para invertir pero no para mi, ese 2,25% manteniendo el crecimiento se convierte en 10 años en un 5,84%, genial para alguien con un horizonte temporal mas largo, 20 o 30 años, pero a mi se me queda corto.

El sector agua lo tengo cubierto con UU y, si algun dia se pone a tiro, SVT.

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Aqua America Declares 7 Percent Dividend Increase (25/07/2019)

The Board of Directors of Aqua America (NYSE: WTR) declared a quarterly cash dividend of $0.2343 per share today, payable Sept. 1, 2019 to all shareholders of record on Aug. 16, 2019.

The September 2019 dividend will represent a $0.0153 increase, or 7.0 percent, compared to the $0.2190 cash dividend the company paid in June of this year. This marks the 29th dividend increase in the past 28 years, and the company has paid a consecutive quarterly cash dividend for more than 74 years. Following the increase, the annualized dividend rate will be $0.9372 per share. The board’s stated long-term targeted dividend payout ratio continues to be in the range of 60 to 70 percent of earnings from operations.

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Financial Results for Q2 2019 (06/08/2019)

  • Revenues for the quarter were $218.9 million, an increase of 3.3 percent compared to $211.9 million in the second quarter of 2018. Rates and surcharges and new customers from acquisitions and organic growth were the largest contributors to the increase.
  • Operations and maintenance expenses increased to $86.4 million for the second quarter of 2019 compared to $73.5 million in the second quarter of 2018. Charges related to the Peoples transaction increased expenses by $12.7 million. Excluding the impact of the Peoples transaction, operations and maintenance expenses would have been in line with the second quarter of 2018.
  • Net income for the second quarter 2019 was $54.9 million or $0.25 per share (GAAP). Net income decreased from the second quarter of 2018 net income of $66.6 million or $0.37 per share (GAAP) due primarily to Peoples transaction-related items of $11.9 million, net of tax.

Reaffirms 2019 Aqua standalone guidance highlights

  • Adjusted income per diluted common share of $1.45 to $1.50
  • Infrastructure investments of approximately $550 million in 2019 for communities served by Aqua
  • Infrastructure investments of approximately $1.4 billion through 2021 in existing operations to rehabilitate and strengthen systems
  • Rate base compound annual growth rate of 7 percent through 2021
  • Total customer growth of between 2 and 3 percent
  • Closing of Peoples acquisition expected in fall 2019
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Financial Results for Q3 2019 (04/11/2019)

  • Revenues for the quarter were $243.6 million, an increase of 7.7 percent compared to $226.1 million in the third quarter of 2018.
  • Operations and maintenance expenses increased to $82.0 million for the third quarter of 2019 compared to $68.6 million in the third quarter of 2018.
  • Net income for the third quarter 2019 was $88.5 million (GAAP) or $0.38 per share (GAAP), compared to $78.2 million or $0.44 per share for the third quarter 2018, an increase in net income of 13.1 percent from the prior year.

Reaffirms 2019 guidance

  • Adjusted income per diluted common share (non-GAAP) of $1.45 to $1.50
  • Infrastructure investments of approximately $550 million in 2019 for communities served by Aqua
  • Infrastructure investments of approximately $1.4 billion through 2021 in existing operations to rehabilitate and strengthen systems
  • Rate base compound annual growth rate of 7 percent through 2021
  • Total customer growth of between 2 and 3 percent
  • Closing of Peoples acquisition expected to occur in late 2019 or early in 2020
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Me estaba volviendo loco con un descuadre en mi cartera, hasta que he visto que la cotización de esta posición estaba a cero.

Han cambiado el nombre y el símbolo.
Ahora es Essential Utilities (WTRG)

Aqua America Announces New Name and Executive Leadership Team Ahead of Peoples Closing

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Earnings For 2019 (27/02/2020)

Full-year 2019 operating results

  • Total operating revenues of $889.7 million in 2019, an increase of 6.2 percent compared to $838.1 million in the prior year.
  • Net income of $224.5 million (GAAP) or $1.04 per share (GAAP), compared to $192.0 million (GAAP) or $1.08 per share (GAAP) in 2018, an increase in net income of 17.0 percent from the prior year.

Fourth quarter 2019 operating results

  • Revenues increased to $226.0 million in the fourth quarter compared to $205.7 million in the same period of 2018, an increase of 9.9 percent. Rate and surcharges, volume and customer growth increased revenues.
  • Net income of $64.2 million (GAAP) or $0.28 per share (GAAP) compared to the net loss of $3.7 million (GAAP) or $0.02 per share (GAAP) for the fourth quarter of 2018.

2020 Essential guidance highlights

  • Adjusted pro-forma income per diluted common share (non-GAAP) of $1.53 to $1.58.
  • 3-year earnings growth CAGR 5-7% for 2019 through 2022, such that base is 2019 adjusted income per share (non-GAAP)
  • Rate base compound annual growth rate of 6 to 7 percent through 2022 in water; and 8 to 10 percent in gas through 2022
  • Total annual water customer growth of between 2 and 3 percent on average, depending upon regulatory approval
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