H2O America (NASDAQ:HTO) Stock Price Crosses Below 50-Day Moving Average - Here's Why

Key Points

• H2O America shares fell below their 50-day moving average, trading as low as $60.06 and last changing hands at $60.64, below the $60.96 average.
• Analyst sentiment remains favorable: the consensus rating is “Moderate Buy”, with an average price target of $64.86.
• The company reported quarterly EPS of $1.04, missing the $1.06 consensus estimate, and announced a quarterly dividend of $0.44 per share, equivalent to a 2.9% annual yield.

Shares of H2O America (NASDAQ:HTO - Get Free Report) crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $60.96 and traded as low as $60.06. H2O America shares last traded at $60.64, with a volume of 604,507 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays lowered their price objective on shares of H2O America from $66.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, October 19th. Seaport Research Partners reaffirmed a "buy" rating and issued a $67.00 target price on shares of H2O America in a report on Wednesday, August 12th. Robert W. Baird increased their target price on shares of H2O America from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Mizuho started coverage on H2O America in a report on Monday. They set an "outperform" rating and a $67.00 price target on the stock. Finally, Huntington Sec started coverage on H2O America in a report on Wednesday, October 28th. They set a "strong-buy" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, H2O America has an average rating of "Moderate Buy" and a consensus price target of $64.86.

H2O America Stock Down 0.9%

The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.93 billion, a PE ratio of 23.78 and a beta of 0.35. The firm's 50-day simple moving average is $60.96 and its 200 day simple moving average is $58.89.

H2O America (NASDAQ:HTO - Get Free Report) last posted its earnings results on Monday, October 26th. The utilities provider reported $1.04 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.02). The firm had revenue of $250.23 million during the quarter. H2O America had a net margin of 12.51% and a return on equity of 6.03%. As a group, equities research analysts forecast that H2O America will post 3.02 earnings per share for the current year.

H2O America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 9th will be given a $0.44 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.9%. H2O America's payout ratio is currently 69.02%.

Institutional Investors Weigh In On H2O America

A number of institutional investors have recently bought and sold shares of HTO. Corient Private Wealth LP acquired a new position in shares of H2O America during the second quarter valued at approximately $1,805,000. Jupiter Topco LLC bought a new stake in H2O America during the second quarter worth approximately $908,000. The Manufacturers Life Insurance Company acquired a new stake in H2O America in the second quarter worth approximately $974,000. Man Group plc acquired a new stake in H2O America in the second quarter worth approximately $1,594,000. Finally, First Trust Advisors LP lifted its position in H2O America by 5.9% in the first quarter. First Trust Advisors LP now owns 531,987 shares of the utilities provider's stock worth $31,212,000 after purchasing an additional 29,594 shares during the period. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

About H2O America

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