American Water Works (AWK) Announces $0.42 Quarterly Dividend
American Water Works (NYSE:AWK) announced a quarterly dividend on Tuesday, October 31st, RTT News reports. Stockholders of record on Friday, November 10th will be given a dividend of 0.415 per share by the utilities provider on Friday, December 1st. This represents a $1.66 dividend on an annualized basis and a dividend yield of 1.89%.
American Water Works has raised its dividend payment by an average of 20.4% annually over the last three years and has raised its dividend every year for the last 8 years. American Water Works has a payout ratio of 55.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect American Water Works to earn $3.26 per share next year, which means the company should continue to be able to cover its $1.66 annual dividend with an expected future payout ratio of 50.9%.
American Water Works (NYSE AWK) traded up 0.07% during mid-day trading on Tuesday, hitting $87.82. The stock had a trading volume of 103,314 shares. American Water Works has a 1-year low of $69.41 and a 1-year high of $88.20. The company has a 50-day moving average price of $83.89 and a 200 day moving average price of $80.71. The company has a market cap of $15.66 billion, a P/E ratio of 33.15 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.07). The business had revenue of $844.00 million for the quarter, compared to analyst estimates of $869.52 million. American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. Equities research analysts forecast that American Water Works will post $3.01 EPS for the current fiscal year.
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In related news, COO Walter Lynch sold 3,335 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $82.05, for a total transaction of $273,636.75. Following the transaction, the chief operating officer now directly owns 94,702 shares in the company, valued at $7,770,299.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.
A number of research analysts have recently issued reports on AWK shares. Zacks Investment Research upgraded shares of American Water Works from a “sell” rating to a “hold” rating in a report on Thursday, September 14th. BidaskClub upgraded shares of American Water Works from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Wells Fargo & Company set a $89.00 price objective on shares of American Water Works and gave the company a “hold” rating in a report on Thursday, October 19th. Boenning Scattergood reiterated a “hold” rating on shares of American Water Works in a report on Friday, September 22nd. Finally, Robert W. Baird reiterated a “hold” rating and set a $82.00 price objective on shares of American Water Works in a report on Sunday, October 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. American Water Works currently has a consensus rating of “Hold” and an average target price of $85.01.
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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