American Water Works (NYSE:AWK) Rating Increased to Hold at Wolfe Research

American Water Works (NYSE:AWK) was upgraded by stock analysts at Wolfe Research to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

Several other research analysts have also commented on the stock. Wells Fargo & Company lowered shares of American Water Works from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $127.00 to $138.00 in a report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $164.00 price target on shares of American Water Works in a research note on Thursday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $140.33.

American Water Works Stock Performance

NYSE AWK opened at $149.12 on Wednesday. The firm has a market cap of $29.05 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 3.49 and a beta of 0.69. The company has a 50-day simple moving average of $143.12 and a two-hundred day simple moving average of $131.51. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 1.24. American Water Works has a 12-month low of $113.34 and a 12-month high of $150.68.

American Water Works (NYSE:AWK) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $1.42 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.05). American Water Works had a return on equity of 9.60% and a net margin of 21.93%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that American Water Works will post 5.27 EPS for the current year.

Insider Transactions at American Water Works

In other American Water Works news, Director Martha Clark Goss sold 710 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $142.85, for a total value of $101,423.50. Following the completion of the transaction, the director now directly owns 36,880 shares in the company, valued at $5,268,308. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On American Water Works

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ables Iannone Moore & Associates Inc. bought a new stake in shares of American Water Works in the fourth quarter worth about $26,000. ORG Partners LLC purchased a new position in American Water Works during the 2nd quarter valued at approximately $30,000. Tortoise Investment Management LLC increased its stake in American Water Works by 71.9% in the 4th quarter. Tortoise Investment Management LLC now owns 239 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Farmers & Merchants Investments Inc. raised its holdings in shares of American Water Works by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 254 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 127 shares in the last quarter. Finally, Quarry LP bought a new position in shares of American Water Works during the 4th quarter valued at approximately $34,000. Institutional investors own 86.58% of the company’s stock.

About American Water Works

American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,700 communities in 14 states serving approximately 3.5 million active customers. The company serves residential customers; commercial customers, including food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities, such as schools and universities; and other utilities and community water and wastewater systems.