American States Water (NYSE:AWR) Hits New 12-Month High – Here’s What Happened

American States Water Company (NYSE:AWR)’s share price hit a new 52-week high on Tuesday . The company traded as high as $91.11 and last traded at $90.9930, with a volume of 215341 shares trading hands. The stock had previously closed at $88.63.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Zacks Research downgraded American States Water from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 2nd. Freedom Capital raised American States Water to a “hold” rating in a research note on Monday, June 29th. Finally, Weiss Ratings upgraded shares of American States Water from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

American States Water Trading Down 0.6%

The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 24.57, a P/E/G ratio of 3.41 and a beta of 0.57. The business’s 50 day moving average is $85.48 and its 200 day moving average is $79.25. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.98 and a quick ratio of 0.90.

American States Water (NYSE:AWR) last announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.16. The company had revenue of $181.29 million during the quarter, compared to the consensus estimate of $171.72 million. American States Water had a return on equity of 13.50% and a net margin of 20.52%.American States Water’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. As a group, equities analysts expect that American States Water Company will post 3.68 earnings per share for the current fiscal year.

American States Water Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Monday, August 17th will be paid a $0.5455 dividend. This is a boost from American States Water’s previous quarterly dividend of $0.50. This represents a $2.18 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, August 17th. American States Water’s dividend payout ratio (DPR) is presently 59.73%.

Insider Activity at American States Water

In related news, Director Anne M. Holloway sold 900 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $88.86, for a total value of $79,974.00. Following the transaction, the director owned 38,518 shares in the company, valued at $3,422,709.48. The trade was a 2.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On American States Water

Institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in American States Water during the 2nd quarter worth approximately $26,000. State of Wyoming purchased a new position in shares of American States Water in the 2nd quarter valued at about $26,000. IFP Advisors Inc increased its holdings in shares of American States Water by 113.6% in the 4th quarter. IFP Advisors Inc now owns 549 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 292 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in American States Water in the fourth quarter valued at $45,000. Finally, Motiv8 Investments LLC acquired a new stake in American States Water in the 4th quarter valued at about $45,000. 75.24% of the stock is owned by institutional investors and hedge funds.

About American States Water

American States Water Company (NYSE: AWR), founded in 1929 and headquartered in San Dimas, California, is a publicly traded utility holding company. The company operates primarily through two regulated segments—water and electric utilities—and provides non-regulated water system services. Over its history, American States Water has expanded its footprint through strategic acquisitions and organic growth, positioning itself as a reliable provider of essential services in its core territories.

Within its regulated water utility segment, American States Water serves more than 250,000 residential, commercial and industrial customers across 35 communities in six counties of California.