Aris Water Solutions (NYSE:ARIS) Stock Price Up 9.3% After Dividend Announcement

Aris Water Solutions, Inc. (NYSE:ARIS) rose 9.3% on Wednesday following a dividend announcement from the company. The stock traded as high as $17.27 and last traded at $17.05. Approximately 372,604 shares were traded during trading, an increase of 25% from the average daily volume of 297,880 shares. The stock had previously closed at $15.60.

The newly announced dividend which will be paid on Thursday, June 20th. Stockholders of record on Thursday, June 6th will be given a dividend of $0.105 per share. This is a boost from Aris Water Solutions’s previous quarterly dividend of $0.09. This represents a $0.42 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, June 6th. Aris Water Solutions’s payout ratio is 60.00%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Aris Water Solutions from $14.50 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped their target price on shares of Aris Water Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. TheStreet raised Aris Water Solutions from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th. Finally, Citigroup upped their target price on shares of Aris Water Solutions from $13.00 to $14.00 and gave the company a “buy” rating in a report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.25.

Aris Water Solutions Stock Performance

The stock’s fifty day simple moving average is $13.87 and its 200-day simple moving average is $10.36. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $985.61 million, a PE ratio of 28.43 and a beta of 1.65.

Aris Water Solutions (NYSE:ARIS) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The firm had revenue of $104.13 million during the quarter, compared to analysts’ expectations of $97.65 million. Aris Water Solutions had a net margin of 4.82% and a return on equity of 4.06%. On average, research analysts predict that Aris Water Solutions, Inc. will post 0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Ranger Investment Management L.P. increased its position in Aris Water Solutions by 41.7% during the third quarter. Ranger Investment Management L.P. now owns 2,010,487 shares of the company’s stock worth $20,065,000 after buying an additional 592,071 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Aris Water Solutions by 93.2% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 1,193,336 shares of the company’s stock valued at $16,886,000 after purchasing an additional 575,536 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in Aris Water Solutions in the 3rd quarter valued at about $2,199,000. HITE Hedge Asset Management LLC purchased a new position in Aris Water Solutions in the 4th quarter valued at about $937,000. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Aris Water Solutions by 48.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 309,002 shares of the company’s stock worth $3,084,000 after purchasing an additional 100,734 shares during the last quarter. Hedge funds and other institutional investors own 39.71% of the company’s stock.

About Aris Water Solutions

Aris Water Solutions, Inc, an environmental infrastructure and solutions company, provides water handling and recycling solutions. The company's produced water handling business gathers, transports, unless recycled, and handles produced water generated from oil and natural gas production. Its water solutions business develops and operates recycling facilities to treat, store, and recycle produced water.