Global Water Resources, Inc. (NASDAQ:GWRS) to Issue Monthly Dividend of $0.03

Global Water Resources, Inc. (NASDAQ:GWRS - Get Free Report) announced a monthly dividend on Tuesday, July 1st, Wall Street Journal reports. Shareholders of record on Thursday, July 17th will be paid a dividend of 0.0253 per share by the utilities provider on Thursday, July 31st. This represents a $0.30 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, July 17th.

Global Water Resources has a 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. 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 2.3%

GWRS traded up $0.23 on Tuesday, hitting $10.42. 36,489 shares of the company were exchanged, compared to its average volume of 34,489. The firm has a 50-day moving average price of $10.33 and a two-hundred day moving average price of $10.89. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.54. Global Water Resources has a twelve month low of $9.37 and a twelve month high of $13.98. The company has a market cap of $286.03 million, a price-to-earnings ratio of 45.31, a price-to-earnings-growth ratio of 3.16 and a beta of 1.04.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last released its earnings results on Wednesday, May 14th. The utilities provider reported $0.02 earnings per share for the quarter, hitting analysts' consensus estimates of $0.02. Global Water Resources had a net margin of 10.63% and a return on equity of 11.27%. The firm had revenue of $12.46 million for the quarter, compared to analyst estimates of $12.00 million. On average, equities analysts predict that Global Water Resources will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Trading of Global Water Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in shares of Global Water Resources by 12.0% in the 1st quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider's stock valued at $181,000 after buying an additional 1,884 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Global Water Resources during the first quarter worth about $109,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Global Water Resources by 20.1% during the first 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 in the last quarter. 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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