Boenning Scattergood Reiterates Hold Rating for American Water Works (AWK)
American Water Works (NYSE:AWK)‘s stock had its “hold” rating reissued by equities research analysts at Boenning Scattergood in a report issued on Friday.
AWK has been the subject of several other reports. BidaskClub cut American Water Works from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised American Water Works from a “sell” rating to a “hold” rating in a research note on Wednesday, May 31st. Northcoast Research initiated coverage on American Water Works in a research note on Thursday, May 25th. They set a “neutral” rating for the company. Finally, Vetr cut American Water Works from a “buy” rating to a “hold” rating and set a $84.04 target price for the company. in a research note on Wednesday, June 14th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $82.86.
Shares of American Water Works (AWK) traded up 0.29% during midday trading on Friday, hitting $82.03. The company had a trading volume of 991,006 shares. American Water Works has a 12 month low of $69.41 and a 12 month high of $83.06. The company has a 50-day moving average of $81.58 and a 200 day moving average of $79.19. The firm has a market capitalization of $14.62 billion, a PE ratio of 30.97 and a beta of 0.25.
American Water Works (NYSE:AWK) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.07). American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The firm had revenue of $844.00 million during the quarter, compared to analyst estimates of $869.52 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts expect that American Water Works will post $3.00 EPS for the current fiscal year.
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In other American Water Works news, COO Walter Lynch sold 3,335 shares of American Water Works stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $82.05, for a total transaction of $273,636.75. Following the completion of the sale, the chief operating officer now directly owns 94,702 shares of the company’s stock, valued at approximately $7,770,299.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in AWK. Cornerstone Advisors Inc. lifted its holdings in American Water Works by 349.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,344 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,045 shares during the last quarter. Parallel Advisors LLC lifted its holdings in American Water Works by 24.7% during the 1st quarter. Parallel Advisors LLC now owns 1,482 shares of the utilities provider’s stock worth $115,000 after buying an additional 294 shares during the last quarter. Pinebridge Investments L.P. purchased a new stake in American Water Works during the 2nd quarter worth about $118,000. Van ECK Associates Corp lifted its holdings in American Water Works by 18.0% during the 1st quarter. Van ECK Associates Corp now owns 1,548 shares of the utilities provider’s stock worth $120,000 after buying an additional 236 shares during the last quarter. Finally, Peddock Capital Advisors LLC purchased a new stake in American Water Works during the 2nd quarter worth about $131,000. 79.77% of the stock is owned by institutional investors.
About American Water Works
American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.
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