American States Water (NYSE:AWR) Sets New 1-Year High - Here's What Happened

Key Points

• American States Water hit a 52-week high, reaching $91.93 in Thursday’s mid-day trading, up from its prior close of $88.61.
• Quarterly results fell short of forecasts: EPS was $1.06 versus $1.09 expected, and revenue was $192.53 million versus $195.98 million expected. Revenue still grew 5.4% year over year.
• The company declared a quarterly dividend of $0.5455 per share, equivalent to a 2.5% annualized yield. Analysts’ average rating remains “Hold.”

American States Water Company (NYSE:AWR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $91.93 and last traded at $89.7210, with a volume of 57,927 shares. The stock had previously closed at $88.61.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "buy (b-)" rating on shares of American States Water in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, American States Water currently has an average rating of "Hold".

American States Water Price Performance

The firm has a 50-day simple moving average of $85.08 and a two-hundred day simple moving average of $80.26. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 3.28 and a beta of 0.54. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.75.

American States Water (NYSE:AWR - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The utilities provider reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.09 by ($0.03). The company had revenue of $192.53 million for the quarter, compared to analysts' expectations of $195.98 million. American States Water had a net margin of 20.52% and a return on equity of 13.50%. The business's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 EPS. As a group, analysts predict that American States Water Company will post 3.68 earnings per share for the current fiscal year.

American States Water Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Monday, November 16th will be issued a $0.5455 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $2.18 dividend on an annualized basis and a yield of 2.5%. American States Water's payout ratio is presently 59.73%.

Insider Buying and Selling

In other news, Director Anne Holloway sold 900 shares of the firm's stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $88.86, for a total transaction of $79,974.00. Following the sale, the director owned 38,518 shares of the company's stock, valued at $3,422,709.48. This trade represents a 2.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On American States Water

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in American States Water in the 2nd quarter valued at about $602,749,000. Bank of New York Mellon Corp purchased a new position in American States Water in the 2nd quarter worth approximately $28,337,000. Legal & General Group Plc acquired a new position in shares of American States Water during the 2nd quarter worth approximately $18,870,000. Bank of America Corp DE acquired a new position in shares of American States Water during the 2nd quarter worth approximately $12,877,000. Finally, Ieq Capital LLC purchased a new stake in shares of American States Water in the second quarter valued at approximately $8,401,000. 75.24% of the stock is currently owned by institutional investors and hedge funds.

American States Water Company Profile

American States Water Company NYSE: AWR is a water and utility services company that provides regulated water and electric services, as well as contracted operations and maintenance services. The company serves residential, commercial, industrial and public-sector customers through its operating subsidiaries.

Through Golden State Water Company, American States Water supplies water to communities primarily in California. Its Bear Valley Electric Service subsidiary provides electric distribution service in the Big Bear area of San Bernardino County, California.

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