State of Alaska Department of Revenue Raises Position in American States Water Company $AWR

State of Alaska Department of Revenue raised its stake in American States Water Company (NYSE:AWR) by 9.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,935 shares of the utilities provider’s stock after purchasing an additional 1,992 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of American States Water worth $1,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of American States Water in the fourth quarter worth approximately $26,000. Golden State Wealth Management LLC increased its position in shares of American States Water by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 760 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 380 shares during the last quarter. Strs Ohio purchased a new stake in shares of American States Water during the first quarter valued at approximately $87,000. GAMMA Investing LLC increased its position in shares of American States Water by 145.9% during the second quarter. GAMMA Investing LLC now owns 2,115 shares of the utilities provider’s stock valued at $162,000 after acquiring an additional 1,255 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of American States Water by 62.2% during the first quarter. Smartleaf Asset Management LLC now owns 2,413 shares of the utilities provider’s stock valued at $187,000 after acquiring an additional 925 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.

American States Water Stock Up 0.6%

Shares of NYSE AWR opened at $70.75 on Friday. American States Water Company has a one year low of $69.85 and a one year high of $87.50. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.56 and a quick ratio of 1.46. The business’s fifty day moving average price is $73.67 and its 200-day moving average price is $76.30. The stock has a market capitalization of $2.72 billion, a PE ratio of 21.64, a P/E/G ratio of 3.80 and a beta of 0.64.

American States Water (NYSE:AWR) last issued its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.05). American States Water had a net margin of 20.26% and a return on equity of 13.14%. The firm had revenue of $163.07 million for the quarter, compared to analysts’ expectations of $170.64 million. During the same period in the prior year, the company earned $0.85 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. On average, equities research analysts anticipate that American States Water Company will post 3.34 EPS for the current year.

American States Water Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th were issued a $0.504 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from American States Water’s previous quarterly dividend of $0.47. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.8%. American States Water’s dividend payout ratio is 61.77%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of American States Water in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $77.50.

American States Water Company Profile

American States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity.