Here's Why Aqua America Climbed 7% in October

Shares of the water utility Aqua America (NYSE: WTR) rose 7% in October. In addition to information about the company's dividend, investors took kindly to the stock after learning of two analyst upgrades.

After raising the price target on Aqua America's shares from $35 to $40, analysts at Wells Fargo Securities upgraded their rating from market perform to outperform, according to benzinga.com. In part, analysts based their outlook on the belief that Aqua America's rate increase request in Pennsylvania will resolve favorably for the company. Aqua America intends to file an infrastructure charge in 2017 followed by a rate case filing in 2018.

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Source: Fool.com