Wells Fargo & Company set a $89.00 price target on American Water Works (NYSE:AWK) in a report released on Thursday, October 19th. The brokerage currently has a hold rating on the utilities provider’s stock.
Several other brokerages also recently commented on AWK. Zacks Investment Research raised shares of American Water Works from a sell rating to a hold rating in a research note on Tuesday, October 10th. BidaskClub downgraded shares of American Water Works from a buy rating to a hold rating in a research note on Thursday, August 3rd. Boenning Scattergood reaffirmed a hold rating on shares of American Water Works in a research note on Friday, September 22nd. Finally, Robert W. Baird reaffirmed a hold rating and set a $82.00 price objective on shares of American Water Works in a research note on Sunday, October 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average target price of $85.01.
Shares of American Water Works (AWK) opened at 87.67 on Thursday. American Water Works has a one year low of $69.41 and a one year high of $88.20. The firm has a market cap of $15.63 billion, a price-to-earnings ratio of 33.10 and a beta of 0.25. The stock’s 50 day moving average price is $83.37 and its 200 day moving average price is $80.50.
American Water Works (NYSE:AWK) last posted its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $869.52 million. During the same quarter in the previous year, the company earned $0.77 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that American Water Works will post $3.01 earnings per share for the current fiscal year.
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In related news, COO Walter Lynch sold 3,335 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $82.05, for a total value of $273,636.75. Following the completion of the transaction, the chief operating officer now directly owns 94,702 shares of the company’s stock, valued at $7,770,299.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. raised its stake in American Water Works by 349.5% in the second 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 in the last quarter. Pinebridge Investments L.P. bought a new position in shares of American Water Works during the second quarter valued at approximately $118,000. Peddock Capital Advisors LLC bought a new position in shares of American Water Works during the second quarter valued at approximately $131,000. Aviance Capital Management LLC bought a new position in shares of American Water Works during the second quarter valued at approximately $147,000. Finally, Almanack Investment Partners LLC. bought a new position in shares of American Water Works during the second quarter valued at approximately $154,000. 79.60% 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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