American States Water (NYSE:AWR) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Shares of American States Water Company (NYSE:AWR) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $82.32 and traded as high as $85.66. American States Water shares last traded at $85.59, with a volume of 215,058 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings upgraded American States Water from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. Freedom Capital raised American States Water to a “hold” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

American States Water Stock Performance

The stock’s 50 day moving average price is $85.55 and its 200 day moving average price is $82.32. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.75. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 3.23 and a beta of 0.56.

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

American States Water Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Monday, August 17th were given a $0.5455 dividend. This is an increase from American States Water’s previous quarterly dividend of $0.5040. The ex-dividend date of this dividend was Monday, August 17th. This represents a $2.18 annualized dividend and a dividend yield of 2.5%. American States Water’s dividend payout ratio is 59.73%.

Insiders Place Their Bets

In related news, Director Anne Holloway sold 900 shares of American States Water stock in a transaction 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 transaction, the director owned 38,518 shares in the company, valued at approximately $3,422,709.48. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

Institutional Trading of American States Water

A number of institutional investors have recently modified their holdings of AWR. BlackRock Inc. purchased a new stake in shares of American States Water in the second quarter worth about $602,749,000. First Trust Advisors LP boosted its stake in shares of American States Water by 2.1% in the first quarter. First Trust Advisors LP now owns 836,092 shares of the utilities provider’s stock valued at $63,225,000 after purchasing an additional 16,896 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of American States Water in the second quarter valued at $28,337,000. Legal & General Group Plc acquired a new stake in American States Water during the 2nd quarter valued at $18,870,000. Finally, Principal Financial Group Inc. grew its holdings in American States Water by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 188,896 shares of the utilities provider’s stock valued at $14,284,000 after purchasing an additional 3,983 shares in 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.