American States Water (NYSE:AWR) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of American States Water (NYSE:AWR) from a sell rating to a hold rating in a report issued on Friday morning.

Separately, Wells Fargo & Company upgraded shares of American States Water from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $80.00 to $87.00 in a report on Wednesday, July 31st.

American States Water Stock Performance

NYSE AWR opened at $86.35 on Friday. The company has a market capitalization of $3.23 billion, a P/E ratio of 29.07, a P/E/G ratio of 4.53 and a beta of 0.49. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.64 and a current ratio of 0.69. American States Water has a 52-week low of $66.03 and a 52-week high of $87.50. The company has a fifty day moving average of $83.48 and a 200-day moving average of $78.94.

American States Water (NYSE:AWR) last posted its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). The firm had revenue of $161.78 million during the quarter, compared to analysts’ expectations of $161.00 million. American States Water had a return on equity of 13.53% and a net margin of 19.26%. American States Water’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. As a group, equities research analysts predict that American States Water will post 3.03 EPS for the current fiscal year.

American States Water Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.4655 per share. The ex-dividend date is Friday, November 15th. This represents a $1.86 annualized dividend and a yield of 2.16%. American States Water’s payout ratio is 62.63%.

Insider Buying and Selling at American States Water

In other news, Director Anne M. Holloway sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $80.89, for a total value of $40,445.00. Following the transaction, the director now owns 38,519 shares in the company, valued at approximately $3,115,801.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.82% of the company’s stock.

Institutional Investors Weigh In On American States Water

Institutional investors have recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in shares of American States Water during the second quarter valued at about $42,000. Assetmark Inc. purchased a new position in American States Water during the 3rd quarter valued at about $50,000. Farther Finance Advisors LLC raised its position in American States Water by 18,820.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 946 shares of the utilities provider’s stock valued at $79,000 after purchasing an additional 941 shares during the last quarter. CWM LLC lifted its holdings in American States Water by 31.4% in the 2nd quarter. CWM LLC now owns 1,045 shares of the utilities provider’s stock worth $76,000 after buying an additional 250 shares during the period. Finally, Quarry LP bought a new stake in shares of American States Water in the 2nd quarter worth approximately $80,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

About American States Water

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.