American States Water (NYSE:AWR) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of American States Water (NYSE:AWR) from a sell rating to a hold rating in a research note published on Thursday morning.

Separately, Wells Fargo & Company raised American States Water from an underweight rating to an equal weight rating and raised their target price for the stock from $80.00 to $87.00 in a research report on Wednesday, July 31st.

American States Water Trading Down 1.2 %

Shares of AWR stock traded down $0.97 on Thursday, reaching $80.88. 269,329 shares of the stock were exchanged, compared to its average volume of 224,955. The stock has a 50 day moving average price of $75.64 and a 200 day moving average price of $73.96. The stock has a market cap of $3.01 billion, a PE ratio of 26.43, a P/E/G ratio of 4.35 and a beta of 0.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.15 and a quick ratio of 1.06. American States Water has a one year low of $66.03 and a one year high of $89.66.

American States Water (NYSE:AWR) last issued its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.02). The company had revenue of $155.30 million for the quarter, compared to analyst estimates of $138.00 million. American States Water had a net margin of 18.85% and a return on equity of 13.67%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period last year, the company posted $0.83 earnings per share. Equities research analysts forecast that American States Water will post 3.01 EPS for the current fiscal year.

American States Water Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be issued a $0.4655 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.86 annualized dividend and a dividend yield of 2.30%. This is a boost from American States Water’s previous quarterly dividend of $0.43. American States Water’s dividend payout ratio is presently 56.21%.

Insider Buying and Selling at American States Water

In other American States Water news, Director Thomas A. Eichelberger bought 640 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were bought at an average cost of $77.62 per share, with a total value of $49,676.80. Following the completion of the purchase, the director now directly owns 7,006 shares of the company’s stock, valued at $543,805.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other American States Water news, Director Mary Ann Hopkins acquired 560 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was purchased at an average price of $71.53 per share, with a total value of $40,056.80. Following the transaction, the director now directly owns 3,606 shares in the company, valued at approximately $257,937.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas A. Eichelberger acquired 640 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average cost of $77.62 per share, with a total value of $49,676.80. Following the transaction, the director now owns 7,006 shares in the company, valued at $543,805.72. The disclosure for this purchase can be found here. Company insiders own 0.82% of the company’s stock.

Institutional Trading of American States Water

Several hedge funds have recently bought and sold shares of the stock. Assetmark Inc. raised its position in American States Water by 633.3% in the 4th quarter. Assetmark Inc. now owns 352 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 304 shares during the period. Northwest Financial Advisors purchased a new position in shares of American States Water during the fourth quarter worth $32,000. Principal Securities Inc. purchased a new position in shares of American States Water during the fourth quarter worth $34,000. TFO Wealth Partners LLC raised its holdings in shares of American States Water by 44,000.0% during the fourth quarter. TFO Wealth Partners LLC now owns 441 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 440 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in American States Water during the second quarter valued at $42,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

About American States Water

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.