AlphaQuest LLC Invests $868,000 in American States Water Company $AWR

Key Points

• AlphaQuest LLC has acquired 11,038 shares of American States Water Company for approximately $868,000, as per their Form 13F filing.
• American States Water recently announced a quarterly dividend increase to $0.504 per share, reflecting an annualized yield of 2.7%.
• According to Wells Fargo, the stock rating for American States Water has been upgraded to "equal weight" with a revised price target of $84.00.

AlphaQuest LLC acquired a new stake in shares of American States Water Company (NYSE:AWR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,038 shares of the utilities provider's stock, valued at approximately $868,000.

Several other institutional investors have also added to or reduced their stakes in AWR. Bessemer Group Inc. raised its position in American States Water by 62,545.4% during the first quarter. Bessemer Group Inc. now owns 149,096 shares of the utilities provider's stock valued at $11,731,000 after purchasing an additional 148,858 shares in the last quarter. Nuveen LLC acquired a new position in American States Water during the first quarter valued at approximately $9,576,000. Northern Trust Corp raised its position in American States Water by 14.5% during the fourth quarter. Northern Trust Corp now owns 603,758 shares of the utilities provider's stock valued at $46,924,000 after purchasing an additional 76,300 shares in the last quarter. Bank of America Corp DE raised its position in American States Water by 107.7% during the fourth quarter. Bank of America Corp DE now owns 137,915 shares of the utilities provider's stock valued at $10,719,000 after purchasing an additional 71,501 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in American States Water by 3,834.0% during the first quarter. GAMMA Investing LLC now owns 67,665 shares of the utilities provider's stock valued at $5,324,000 after purchasing an additional 65,945 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wells Fargo & Company upgraded American States Water from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $76.00 to $84.00 in a research note on Thursday, May 8th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, American States Water has an average rating of "Reduce" and a consensus target price of $77.50.

American States Water Trading Up 0.2%

Shares of American States Water stock traded up $0.15 during trading on Friday, hitting $74.50. The company's stock had a trading volume of 322,167 shares, compared to its average volume of 207,025. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.56 and a quick ratio of 1.46. American States Water Company has a 52 week low of $70.29 and a 52 week high of $87.50. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 4.02 and a beta of 0.62. The stock has a 50-day moving average price of $75.60 and a two-hundred day moving average price of $77.07.

American States Water (NYSE:AWR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). The firm had revenue of $163.07 million for the quarter, compared to the consensus estimate of $170.64 million. American States Water had a net margin of 20.26% and a return on equity of 13.14%. The business's revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.85 EPS. Equities research analysts anticipate that American States Water Company will post 3.34 EPS for the current fiscal year.

American States Water Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Friday, August 15th will be given a dividend of $0.504 per share. This represents a $2.02 dividend on an annualized basis and a yield of 2.7%. This is an increase from American States Water's previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, August 15th. American States Water's payout ratio is currently 61.77%.

Insider Buying and Selling

In other news, Director Thomas A. Eichelberger purchased 897 shares of the business's stock in a transaction on Friday, June 6th. The shares were acquired at an average price of $76.81 per share, with a total value of $68,898.57. Following the completion of the transaction, the director owned 8,467 shares of the company's stock, valued at $650,350.27. The trade was a 11.85% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.83% of the company's stock.

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.