Global Water Resources, Inc. (NASDAQ:GWRS) Declares $0.03 Oct 25 Dividend

Key Points

• Global Water Resources, Inc. has declared a dividend of $0.03 to be paid on October 31st, with stockholders of record on October 17th.
• The company has a dividend payout ratio of 107.1%, indicating it is currently unable to cover its dividend with earnings and relies on its balance sheet to maintain payments.
• Global Water Resources has experienced significant institutional investment increases, with firms like Bank of America Corp DE increasing their stake by 61.8% during the fourth quarter.

Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) announced a oct 25 dividend on Tuesday, September 30th, RTT News reports. Stockholders of record on Friday, October 17th will be paid a dividend of 0.0253 per share by the utilities provider on Friday, October 31st.

Global Water Resources has a dividend payout ratio of 107.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

Shares of GWRS opened at $10.20 on Tuesday. Global Water Resources has a twelve month low of $9.27 and a twelve month high of $13.98. The firm's fifty day simple moving average is $9.87 and its 200-day simple moving average is $10.17. The firm has a market capitalization of $280.19 million, a price-to-earnings ratio of 46.37 and a beta of 1.04. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.54.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The utilities provider reported $0.06 earnings per share for the quarter, meeting analysts' consensus estimates of $0.06. The business had revenue of $14.24 million for the quarter, compared to analyst estimates of $14.20 million. Global Water Resources had a net margin of 10.27% and a return on equity of 9.67%. Equities analysts forecast that Global Water Resources will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Global Water Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GWRS. Ameriprise Financial Inc. raised its position in Global Water Resources by 7.0% during the fourth quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider's stock worth $232,000 after acquiring an additional 1,327 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Global Water Resources by 61.8% during the 4th quarter. Bank of America Corp DE now owns 24,539 shares of the utilities provider's stock valued at $282,000 after buying an additional 9,370 shares during the period. Deutsche Bank AG grew its stake in Global Water Resources by 4,273.8% during the fourth quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider's stock worth $173,000 after buying an additional 14,659 shares during the period. Millennium Management LLC grew its stake in Global Water Resources by 87.8% during the fourth quarter. Millennium Management LLC now owns 27,067 shares of the utilities provider's stock worth $311,000 after buying an additional 12,654 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Global Water Resources by 12.0% in the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider's stock valued at $181,000 after purchasing an additional 1,884 shares during the period. Institutional investors and hedge funds own 27.91% of the company's stock.

Global Water Resources Company Profile

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.

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