Wells Fargo & Company Boosts American States Water (NYSE:AWR) Price Target to $80.00

American States Water (NYSE:AWRFree Report) had its price objective hoisted by Wells Fargo & Company from $77.00 to $80.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an underweight rating on the utilities provider’s stock.

American States Water Stock Performance

NYSE:AWR opened at $77.98 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.15 and a quick ratio of 1.13. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 4.11 and a beta of 0.43. The firm’s fifty day moving average price is $71.21 and its 200 day moving average price is $75.89. American States Water has a 1-year low of $66.03 and a 1-year high of $92.85.

American States Water (NYSE:AWRGet Free Report) last issued its earnings results on Wednesday, May 8th. The utilities provider reported $0.62 earnings per share for the quarter, meeting the consensus estimate of $0.62. The business had revenue of $135.30 million for the quarter, compared to the consensus estimate of $119.00 million. American States Water had a net margin of 19.95% and a return on equity of 13.65%. The business’s quarterly revenue was down 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. On average, sell-side analysts expect that American States Water will post 3.01 EPS for the current year.

American States Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $0.43 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.72 annualized dividend and a dividend yield of 2.21%. American States Water’s dividend payout ratio is presently 56.21%.

Insider Activity at American States Water

In related news, Director Thomas A. Eichelberger purchased 1,400 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was bought at an average cost of $71.21 per share, with a total value of $99,694.00. Following the completion of the acquisition, the director now directly owns 5,850 shares in the company, valued at approximately $416,578.50. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.82% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American States Water

A number of hedge funds and other institutional investors have recently modified their holdings of AWR. Assetmark Inc. grew its stake in American States Water by 633.3% in the 4th quarter. Assetmark Inc. now owns 352 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 304 shares during the period. Northwest Financial Advisors purchased a new stake in shares of American States Water in the fourth quarter valued at $32,000. Principal Securities Inc. acquired a new position in American States Water in the fourth quarter valued at $34,000. Column Capital Advisors LLC purchased a new position in American States Water during the third quarter worth about $35,000. Finally, TFO Wealth Partners LLC boosted its stake in American States Water by 44,000.0% in the 4th quarter. TFO Wealth Partners LLC now owns 441 shares of the utilities provider’s stock worth $35,000 after buying an additional 440 shares during the last quarter. 75.24% of the stock is currently owned by hedge funds and other institutional investors.

American States Water Company Profile

(Get Free Report)

American States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity.

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