Global Water Resources, Inc. Announces Jun 25 Dividend of $0.03 (NASDAQ:GWRS)

Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) declared a jun 25 dividend on Friday, May 30th, RTT News reports. Investors of record on Monday, June 16th will be given a dividend of 0.0253 per share by the utilities provider on Monday, June 30th.

Global Water Resources has raised its dividend by an average of 1.0% annually over the last three years and has increased its dividend every year for the last 8 years. Global Water Resources has a dividend payout ratio of 107.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Global Water Resources to earn $0.30 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 100.0%.

Global Water Resources Stock Up 1.9%

Shares of NASDAQ GWRS traded up $0.19 during mid-day trading on Friday, reaching $10.19. The company had a trading volume of 29,315 shares, compared to its average volume of 32,109. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 2.47. The firm has a 50 day simple moving average of $10.24 and a two-hundred day simple moving average of $11.27. The stock has a market cap of $279.73 million, a P/E ratio of 37.74, a PEG ratio of 2.53 and a beta of 1.06. Global Water Resources has a 52-week low of $9.37 and a 52-week high of $13.98.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last posted its earnings results on Wednesday, May 14th. The utilities provider reported $0.02 EPS for the quarter, meeting analysts' consensus estimates of $0.02. The firm had revenue of $12.46 million for the quarter, compared to the consensus estimate of $12.00 million. Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. Sell-side analysts predict that Global Water Resources will post 0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Global Water Resources from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Insiders Place Their Bets

In other Global Water Resources news, Director Andrew M. Cohn acquired 252,000 shares of the stock in a transaction on Thursday, March 27th. The shares were bought at an average cost of $10.00 per share, with a total value of $2,520,000.00. Following the transaction, the director now owns 2,379,899 shares of the company's stock, valued at approximately $23,798,990. This trade represents a 11.84% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 54.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in Global Water Resources by 20.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 103,024 shares of the utilities provider's stock worth $1,062,000 after purchasing an additional 17,257 shares during the last quarter. Rhumbline Advisers grew its position in Global Water Resources by 12.0% during the 1st quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider's stock worth $181,000 after purchasing an additional 1,884 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Global Water Resources during the 1st quarter worth $109,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

About Global Water Resources

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.