Aris Water Solutions (NYSE:ARIS) Trading 9.3% Higher After Dividend Announcement

Aris Water Solutions, Inc. (NYSE:ARIS) shares were up 9.3% during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $17.27 and last traded at $17.05. Approximately 372,604 shares changed hands 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. Shareholders of record on Thursday, June 6th will be issued a $0.105 dividend. This is an increase from Aris Water Solutions’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, June 6th. This represents a $0.42 dividend on an annualized basis and a yield of 2.46%. Aris Water Solutions’s dividend payout ratio is presently 60.00%.

Wall Street Analyst Weigh In

ARIS has been the subject of several recent research reports. Citigroup increased their price target on Aris Water Solutions from $13.00 to $14.00 and gave the company a “buy” rating in a report on Monday, March 4th. The Goldman Sachs Group lifted their price target on Aris Water Solutions from $14.50 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company upped their price objective 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. Finally, TheStreet raised shares of Aris Water Solutions from a “d+” rating to a “c-” rating in a research note on Wednesday, March 13th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

Aris Water Solutions Stock Up 9.4 %

The company has a market cap of $985.90 million, a price-to-earnings ratio of 28.43 and a beta of 1.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.12 and a current ratio of 1.12. The business has a 50-day simple moving average of $13.73 and a 200-day simple moving average of $10.31.

Aris Water Solutions (NYSE:ARIS) last issued its earnings results 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). Aris Water Solutions had a net margin of 4.82% and a return on equity of 4.06%. The firm had revenue of $104.13 million during the quarter, compared to analyst estimates of $97.65 million. On average, equities analysts anticipate that Aris Water Solutions, Inc. will post 0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Ranger Investment Management L.P. boosted its holdings in Aris Water Solutions by 41.7% in the third quarter. Ranger Investment Management L.P. now owns 2,010,487 shares of the company’s stock valued at $20,065,000 after purchasing an additional 592,071 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Aris Water Solutions by 93.2% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 1,193,336 shares of the company’s stock worth $16,886,000 after acquiring an additional 575,536 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in Aris Water Solutions in the third quarter valued at $2,199,000. HITE Hedge Asset Management LLC purchased a new position in Aris Water Solutions during the 4th quarter worth approximately $937,000. Finally, Envestnet Asset Management Inc. grew its position in 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.