American States Water Company (AWR) Declares Quarterly Dividend of $0.26
American States Water Company (NYSE:AWR) announced a quarterly dividend on Tuesday, October 31st, RTT News reports. Stockholders of record on Wednesday, November 15th will be given a dividend of 0.255 per share by the utilities provider on Friday, December 1st. This represents a $1.02 annualized dividend and a dividend yield of 1.90%.
American States Water has raised its dividend by an average of 6.3% per year over the last three years and has increased its dividend annually for the last 62 consecutive years. American States Water has a dividend payout ratio of 59.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect American States Water to earn $1.79 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 57.0%.
American States Water (NYSE:AWR) traded up 0.02% during midday trading on Tuesday, hitting $53.75. The stock had a trading volume of 187,303 shares. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 29.01 and a beta of 0.45. The firm has a 50-day moving average price of $52.13 and a 200-day moving average price of $48.75. American States Water has a 1-year low of $38.21 and a 1-year high of $56.31.
American States Water (NYSE:AWR) last released its earnings results on Wednesday, August 2nd. The utilities provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.17. The business had revenue of $113.20 million during the quarter, compared to analysts’ expectations of $119.23 million. American States Water had a net margin of 15.44% and a return on equity of 13.70%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, equities research analysts anticipate that American States Water will post $1.70 earnings per share for the current year.
In related news, insider Denise L. Kruger sold 1,250 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $49.61, for a total transaction of $62,012.50. Following the transaction, the insider now directly owns 9,466 shares in the company, valued at $469,608.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lloyd E. Ross sold 600 shares of the business’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $51.72, for a total transaction of $31,032.00. The disclosure for this sale can be found here. Insiders have sold 31,355 shares of company stock valued at $1,510,279 in the last three months. Corporate insiders own 1.49% of the company’s stock.
A number of research firms have recently commented on AWR. Zacks Investment Research raised shares of American States Water from a “hold” rating to a “strong-buy” rating and set a $64.00 target price for the company in a research note on Monday, October 23rd. BidaskClub raised shares of American States Water from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. US Capital Advisors reissued a “hold” rating on shares of American States Water in a research note on Monday, July 17th. Finally, Wells Fargo & Company boosted their target price on shares of American States Water from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. American States Water has a consensus rating of “Hold” and an average target price of $51.00.
American States Water Company Profile
American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc (ASUS), as well as ASUS’ subsidiaries, such as Fort Bliss Water Services Company (FBWS), Terrapin Utility Services, Inc (TUS), Old Dominion Utility Services, Inc (ODUS), Palmetto State Utility Services, Inc (PSUS) and Old North Utility Services, Inc (ONUS).
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