American States Water (NYSE:AWR) Sets New 1-Year High – Here’s What Happened

American States Water Company (NYSE:AWR)’s stock price hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $91.93 and last traded at $89.7210, with a volume of 57,927 shares trading hands. The stock had previously closed at $88.61.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American States Water in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

American States Water Stock Up 0.4%

The company has a debt-to-equity ratio of 0.75, a current ratio of 0.98 and a quick ratio of 0.90. The company has a market capitalization of $3.53 billion, a PE ratio of 24.35, a P/E/G ratio of 3.28 and a beta of 0.54. The business’s 50 day simple moving average is $85.08 and its 200 day simple moving average is $80.26.

American States Water (NYSE:AWR) last posted its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.03). The firm had revenue of $192.53 million during the quarter, compared to analysts’ expectations of $195.98 million. American States Water had a net margin of 20.52% and a return on equity of 13.50%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $1.06 EPS. As a group, analysts anticipate that American States Water Company will post 3.68 earnings per share for the current fiscal year.

American States Water Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Monday, November 16th will be issued a $0.5455 dividend. The ex-dividend date is Monday, November 16th. This represents a $2.18 dividend on an annualized basis and a yield of 2.5%. American States Water’s dividend payout ratio is currently 59.73%.

Insiders Place Their Bets

In related news, Director Anne Holloway sold 900 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $88.86, for a total value of $79,974.00. Following the completion of the transaction, the director directly owned 38,518 shares in the company, valued at approximately $3,422,709.48. This represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On American States Water

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund grew its holdings in shares of American States Water by 1.9% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 19,697 shares of the utilities provider’s stock worth $1,622,000 after purchasing an additional 371 shares during the period. Cornerstone Wealth Management LLC raised its holdings in American States Water by 0.8% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 67,408 shares of the utilities provider’s stock valued at $5,550,000 after buying an additional 504 shares during the period. Brighton Jones LLC raised its holdings in American States Water by 1.5% in the 3rd quarter. Brighton Jones LLC now owns 9,225 shares of the utilities provider’s stock valued at $759,000 after buying an additional 134 shares during the period. StoneX Group Inc. purchased a new stake in American States Water in the 3rd quarter valued at about $261,000. Finally, Pictet Asset Management Holding SA lifted its position in American States Water by 5.5% in the third quarter. Pictet Asset Management Holding SA now owns 7,595 shares of the utilities provider’s stock valued at $625,000 after buying an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American States Water Company Profile

American States Water Company (NYSE:AWR) is a water and utility services company that provides regulated water and electric services, as well as contracted operations and maintenance services. The company serves residential, commercial, industrial and public-sector customers through its operating subsidiaries.

Through Golden State Water Company, American States Water supplies water to communities primarily in California. Its Bear Valley Electric Service subsidiary provides electric distribution service in the Big Bear area of San Bernardino County, California.