American Water Works (NYSE:AWK) had its target price raised by Janney Montgomery Scott from $96.00 to $102.00 in a report issued on Wednesday. The brokerage currently has a buy rating on the utilities provider’s stock.
Several other research firms also recently issued reports on AWK. Zacks Investment Research downgraded shares of American Water Works from a buy rating to a hold rating in a report on Monday. Wells Fargo & Co increased their price objective on shares of American Water Works from $97.00 to $104.00 and gave the company an outperform rating in a report on Wednesday. Robert W. Baird raised shares of American Water Works from a neutral rating to an outperform rating and set a $103.00 price objective on the stock in a report on Thursday, December 6th. ValuEngine raised shares of American Water Works from a hold rating to a buy rating in a report on Monday, September 17th. Finally, Evercore ISI began coverage on shares of American Water Works in a report on Monday, September 17th. They set an outperform rating and a $96.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $95.72.
NYSE AWK traded up $0.25 during mid-day trading on Wednesday, reaching $97.37. 15,861 shares of the stock were exchanged, compared to its average volume of 941,137. American Water Works has a 1 year low of $76.04 and a 1 year high of $98.18. The company has a market capitalization of $17.42 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 3.76 and a beta of 0.12. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.43 and a current ratio of 0.46.
American Water Works (NYSE:AWK) last announced its quarterly earnings results on Wednesday, October 31st. The utilities provider reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.04. American Water Works had a net margin of 13.31% and a return on equity of 10.57%. The firm had revenue of $976.00 million for the quarter, compared to the consensus estimate of $946.35 million. During the same period in the prior year, the firm posted $1.08 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities analysts expect that American Water Works will post 3.3 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 7th will be paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Wednesday, February 6th. American Water Works’s dividend payout ratio is currently 60.07%.
In other American Water Works news, Director Karl F. Kurz purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The shares were purchased at an average cost of $91.30 per share, with a total value of $91,300.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Walter Lynch sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $91.69, for a total transaction of $458,450.00. Following the sale, the chief operating officer now owns 107,031 shares of the company’s stock, valued at $9,813,672.39. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA increased its position in shares of American Water Works by 9,419.3% during the third quarter. Federated Investors Inc. PA now owns 923,280 shares of the utilities provider’s stock valued at $81,221,000 after acquiring an additional 913,581 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of American Water Works during the third quarter valued at about $5,393,000. Great Lakes Advisors LLC acquired a new stake in shares of American Water Works during the third quarter valued at about $264,000. HM Payson & Co. acquired a new stake in shares of American Water Works during the third quarter valued at about $210,000. Finally, Vanguard Group Inc. increased its position in shares of American Water Works by 2.3% during the third quarter. Vanguard Group Inc. now owns 19,220,656 shares of the utilities provider’s stock valued at $1,690,841,000 after acquiring an additional 436,131 shares during the last quarter. Hedge funds and other institutional investors own 83.08% 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 and Canada. It offers water and wastewater services to approximately 1,600 communities in 16 states. The company operates approximately 72 surface water treatment plants; 527 groundwater treatment plants; 8 combined treatment plants; 127 wastewater treatment plants; 50,382 miles of transmission, distribution, and collection mains and pipes; 1,103 groundwater wells; 1,428 water and wastewater pumping stations; 1,313 treated water storage facilities; and 80 dams.
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