American States Water (NYSE:AWR – Get Rating) declared a quarterly dividend on Thursday, July 28th, RTT News reports. Shareholders of record on Monday, August 15th will be given a dividend of 0.3975 per share by the utilities provider on Thursday, September 1st. This represents a $1.59 dividend on an annualized basis and a yield of 1.86%. This is an increase from American States Water’s previous quarterly dividend of $0.37.
American States Water has a payout ratio of 53.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect American States Water to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 53.1%.
American States Water Price Performance
AWR stock traded up $1.44 during midday trading on Thursday, reaching $85.42. The company had a trading volume of 2,504 shares, compared to its average volume of 130,545. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.82 and a quick ratio of 0.74. American States Water has a 1 year low of $71.22 and a 1 year high of $103.77. The company has a market capitalization of $3.16 billion, a P/E ratio of 34.85 and a beta of 0.26. The firm has a 50-day moving average price of $79.61 and a 200-day moving average price of $83.92.
Insider Transactions at American States Water
In other news, insider Bryan K. Switzer sold 2,645 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $79.93, for a total value of $211,414.85. Following the completion of the sale, the insider now directly owns 6,630 shares in the company, valued at approximately $529,935.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.92% of the company’s stock.
Institutional Investors Weigh In On American States Water
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in American States Water by 28.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,051 shares of the utilities provider’s stock valued at $94,000 after buying an additional 231 shares during the last quarter. Mirabella Financial Services LLP bought a new stake in American States Water during the 1st quarter valued at $201,000. Jane Street Group LLC bought a new stake in American States Water during the 1st quarter valued at $250,000. Eaton Vance Management raised its holdings in American States Water by 463.2% during the 1st quarter. Eaton Vance Management now owns 104,217 shares of the utilities provider’s stock valued at $9,278,000 after buying an additional 85,713 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in American States Water by 4.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 91,555 shares of the utilities provider’s stock valued at $8,150,000 after buying an additional 3,809 shares during the last quarter. 72.04% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on AWR. StockNews.com began coverage on shares of American States Water in a report on Thursday, March 31st. They issued a “hold” rating for the company. Barclays lowered their price objective on shares of American States Water from $88.00 to $80.00 and set an “underweight” rating for the company in a report on Monday, July 18th.
American States Water Company Profile
American States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity.
- Get a free copy of the StockNews.com research report on American States Water (AWR)
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