Franklin Resources Inc. Has $1.27 Million Position in American States Water (NYSE:AWR)

Franklin Resources Inc. cut its position in American States Water (NYSE:AWR) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,870 shares of the utilities provider’s stock after selling 414 shares during the quarter. Franklin Resources Inc.’s holdings in American States Water were worth $1,270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of American States Water in the third quarter valued at about $287,000. Geode Capital Management LLC raised its stake in American States Water by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 850,878 shares of the utilities provider’s stock worth $70,884,000 after purchasing an additional 13,024 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in American States Water by 50.9% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 42,618 shares of the utilities provider’s stock worth $3,550,000 after purchasing an additional 14,380 shares in the last quarter. Barclays PLC boosted its holdings in American States Water by 172.8% in the 3rd quarter. Barclays PLC now owns 78,706 shares of the utilities provider’s stock valued at $6,554,000 after purchasing an additional 49,851 shares during the period. Finally, MML Investors Services LLC bought a new position in shares of American States Water during the third quarter worth approximately $206,000. 75.24% of the stock is owned by institutional investors and hedge funds.

American States Water Price Performance

AWR stock opened at $77.97 on Friday. The company’s 50-day moving average price is $83.16 and its two-hundred day moving average price is $80.89. The firm has a market cap of $2.92 billion, a P/E ratio of 26.25, a P/E/G ratio of 6.77 and a beta of 0.51. The company has a quick ratio of 0.64, a current ratio of 0.69 and a debt-to-equity ratio of 0.86. American States Water has a 12 month low of $66.03 and a 12 month high of $87.50.

American States Water (NYSE:AWR) last announced its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03). American States Water had a net margin of 19.26% and a return on equity of 13.53%. The firm had revenue of $161.78 million for the quarter, compared to analyst estimates of $161.00 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts anticipate that American States Water will post 3.02 earnings per share for the current fiscal year.

American States Water Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were given a dividend of $0.4655 per share. The ex-dividend date was Friday, November 15th. This represents a $1.86 annualized dividend and a dividend yield of 2.39%. American States Water’s dividend payout ratio is currently 62.63%.

Analysts Set New Price Targets

AWR has been the subject of several recent research reports. StockNews.com cut American States Water from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Bank of America assumed coverage on American States Water in a report on Wednesday, December 11th. They issued a “neutral” rating and a $85.00 price objective for the company.

American States Water Company Profile

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.