Wealth Enhancement Advisory Services LLC Acquires 6,097 Shares of American States Water Company $AWR

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in American States Water Company by 111.5%, acquiring an additional 6,097 shares, bringing its total to 11,565 shares valued at $892,000.
• American States Water Company recently reported earnings per share of $0.87, falling short of analysts' expectations, with a quarterly revenue of $163.07 million, which was also below forecast.
• The company announced an increase in its quarterly dividend to $0.504 per share, up from $0.47, representing a 2.9% dividend yield and a payout ratio of 61.77%.

Wealth Enhancement Advisory Services LLC grew its holdings in shares of American States Water Company (NYSE:AWR - Free Report) by 111.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,565 shares of the utilities provider's stock after purchasing an additional 6,097 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in American States Water were worth $892,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Rhumbline Advisers raised its holdings in shares of American States Water by 1.8% during the 1st quarter. Rhumbline Advisers now owns 120,154 shares of the utilities provider's stock valued at $9,454,000 after purchasing an additional 2,070 shares in the last quarter. Strs Ohio bought a new position in shares of American States Water during the 1st quarter valued at $87,000. Jacobi Capital Management LLC raised its holdings in shares of American States Water by 3.7% during the 1st quarter. Jacobi Capital Management LLC now owns 11,353 shares of the utilities provider's stock valued at $893,000 after purchasing an additional 403 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of American States Water by 16.6% during the 1st quarter. Intech Investment Management LLC now owns 20,129 shares of the utilities provider's stock valued at $1,584,000 after purchasing an additional 2,861 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in shares of American States Water by 148.3% during the 1st quarter. Focus Partners Wealth now owns 5,597 shares of the utilities provider's stock valued at $440,000 after purchasing an additional 3,343 shares in the last quarter. Institutional investors own 75.24% of the company's stock.

American States Water Stock Down 1.0%

American States Water stock opened at $70.28 on Friday. American States Water Company has a 1-year low of $69.85 and a 1-year high of $87.50. The firm's fifty day simple moving average is $73.72 and its 200-day simple moving average is $76.34. The company has a current ratio of 1.56, a quick ratio of 1.46 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $2.71 billion, a P/E ratio of 21.49, a P/E/G ratio of 3.83 and a beta of 0.64.

American States Water (NYSE:AWR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.05). The firm had revenue of $163.07 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. Sell-side analysts forecast that American States Water Company will post 3.34 earnings per share for the current fiscal year.

American States Water Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were given a dividend of $0.504 per share. This is an increase from American States Water's previous quarterly dividend of $0.47. The ex-dividend date was Friday, August 15th. This represents a $2.02 annualized dividend and a dividend yield of 2.9%. American States Water's dividend payout ratio (DPR) is presently 61.77%.

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.

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