American States Water (NYSE:AWR) Posts Earnings Results, Beats Expectations By $0.17 EPS

Key Points

• American States Water exceeded quarterly expectations: The utility reported EPS of $1.09, beating the $0.92 consensus by $0.17, while revenue reached $181.29 million versus expectations of $171.72 million.
• The company raised its quarterly dividend to $0.5455 per share, or $2.18 annually, representing a 2.6% yield and a payout ratio of 58.89%.
• Shares fell 0.8% to $84.75 after the results. Analysts maintain a consensus “Hold” rating, while institutional investors own 75.24% of the stock.

American States Water (NYSE:AWR - Get Free Report) announced its quarterly earnings data on Wednesday. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.17, FiscalAI reports. American States Water had a net margin of 19.66% and a return on equity of 13.06%. The company had revenue of $181.29 million during the quarter, compared to analysts' expectations of $171.72 million.

American States Water Trading Down 0.8%

NYSE:AWR traded down $0.65 during midday trading on Wednesday, reaching $84.75. 234,470 shares of the stock traded hands, compared to its average volume of 310,533. The stock has a market capitalization of $3.32 billion, a P/E ratio of 24.71, a PEG ratio of 3.30 and a beta of 0.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.13 and a current ratio of 1.22. The company has a fifty day moving average of $81.96 and a 200 day moving average of $77.59. American States Water has a 12 month low of $69.45 and a 12 month high of $90.11.

American States Water Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Monday, August 17th will be issued a dividend of $0.5455 per share. The ex-dividend date is Monday, August 17th. This represents a $2.18 dividend on an annualized basis and a yield of 2.6%. This is an increase from American States Water's previous quarterly dividend of $0.50. American States Water's dividend payout ratio (DPR) is currently 58.89%.

Insider Activity

In other American States Water news, Director Anne M. Holloway sold 662 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $75.58, for a total value of $50,033.96. Following the completion of the sale, the director owned 39,418 shares in the company, valued at approximately $2,979,212.44. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Paul J. Rowley sold 1,304 shares of American States Water stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $76.05, for a total value of $99,169.20. Following the completion of the sale, the senior vice president owned 6,520 shares in the company, valued at approximately $495,846. This represents a 16.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.90% of the stock is owned by company insiders.

Institutional Trading of American States Water

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Wyoming bought a new stake in shares of American States Water during the 2nd quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its position in American States Water by 337.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 721 shares of the utilities provider's stock valued at $55,000 after acquiring an additional 556 shares in the last quarter. Ameriflex Group Inc. bought a new stake in American States Water during the 4th quarter valued at approximately $59,000. Advisory Services Network LLC purchased a new position in shares of American States Water during the 3rd quarter worth approximately $72,000. Finally, Strs Ohio purchased a new position in shares of American States Water during the 1st quarter worth approximately $87,000. Hedge funds and other institutional investors own 75.24% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Zacks Research cut shares of American States Water from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 2nd. Weiss Ratings raised American States Water from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 30th. Finally, Freedom Capital upgraded American States Water to a "hold" rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold".

American States Water Company Profile

American States Water Company NYSE: AWR, founded in 1929 and headquartered in San Dimas, California, is a publicly traded utility holding company. The company operates primarily through two regulated segments—water and electric utilities—and provides non-regulated water system services. Over its history, American States Water has expanded its footprint through strategic acquisitions and organic growth, positioning itself as a reliable provider of essential services in its core territories.

Within its regulated water utility segment, American States Water serves more than 250,000 residential, commercial and industrial customers across 35 communities in six counties of California.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source