Zacks Investment Research upgraded shares of American Water Works (NYSE:AWK) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning.
According to Zacks, “Year to date American Water Works have gained higher than the industry. American Water Works continues to add customers and expand its market reach through acquisitions and organic growth. Year to date, the water utility has added 22,000 customers through closed acquisitions and organic growth. Thanks to its ongoing capital expenditure we expect the company to improve its water and wastewater systems, providing efficient services to its expanding customer base. Unimpressive performance in the market-based businesses has proved detrimental to the company’s earnings. It is subject to stringent regulations, fluctuating weather patterns and risk of accidents due to old and soiled pipelines. High debt level is a headwind.”
Several other analysts have also commented on AWK. Robert W. Baird reissued a hold rating and issued a $82.00 target price on shares of American Water Works in a research report on Sunday, October 1st. Boenning Scattergood reissued a hold rating on shares of American Water Works in a research report on Friday, September 22nd. BidaskClub lowered American Water Works from a buy rating to a hold rating in a research report on Thursday, August 3rd. Finally, Vetr lowered American Water Works from a buy rating to a hold rating and set a $84.04 target price on the stock. in a research report on Wednesday, June 14th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. American Water Works presently has an average rating of Hold and a consensus target price of $82.86.
American Water Works (NYSE:AWK) opened at 85.02 on Tuesday. The stock’s 50 day moving average price is $82.17 and its 200-day moving average price is $79.95. The company has a market cap of $15.16 billion, a PE ratio of 32.10 and a beta of 0.25. American Water Works has a 1-year low of $69.41 and a 1-year high of $85.78.
American Water Works (NYSE:AWK) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.07). The firm had revenue of $844.00 million for the quarter, compared to analysts’ expectations of $869.52 million. American Water Works had a net margin of 14.20% and a return on equity of 9.70%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS. On average, analysts forecast that American Water Works will post $3.00 earnings per share for the current year.
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In other American Water Works news, COO Walter Lynch sold 15,169 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $82.00, for a total value of $1,243,858.00. Following the sale, the chief operating officer now owns 111,171 shares of the company’s stock, valued at $9,116,022. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of the business. Crow Point Partners LLC grew its stake in shares of American Water Works by 4.2% in the third quarter. Crow Point Partners LLC now owns 208,333 shares of the utilities provider’s stock worth $16,898,000 after acquiring an additional 8,333 shares in the last quarter. Intl Fcstone Inc. acquired a new position in shares of American Water Works in the second quarter worth $950,000. Lord Abbett & CO. LLC grew its stake in shares of American Water Works by 33.1% in the second quarter. Lord Abbett & CO. LLC now owns 881,230 shares of the utilities provider’s stock worth $68,692,000 after acquiring an additional 219,357 shares in the last quarter. Atlantic Trust LLC grew its stake in shares of American Water Works by 2.1% in the second quarter. Atlantic Trust LLC now owns 2,705 shares of the utilities provider’s stock worth $211,000 after acquiring an additional 55 shares in the last quarter. Finally, WFG Advisors LP grew its stake in shares of American Water Works by 11.5% in the second quarter. WFG Advisors LP now owns 2,571 shares of the utilities provider’s stock worth $200,000 after acquiring an additional 265 shares in the last quarter. Institutional investors and hedge funds own 79.77% of the company’s stock.
About American Water Works
American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.
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