Global Water Resources, Inc. (GWRS) to Issue Monthly Dividend of $0.02 on September 29th
Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Friday, September 1st, Wall Street Journal reports. Shareholders of record on Friday, September 15th will be paid a dividend of 0.0231 per share by the utilities provider on Friday, September 29th. This represents a $0.28 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Thursday, September 14th. This is a positive change from Global Water Resources’s previous monthly dividend of $0.02.
Shares of Global Water Resources (GWRS) traded down 0.62% during midday trading on Friday, reaching $9.64. The company’s stock had a trading volume of 23,986 shares. Global Water Resources has a 1-year low of $7.50 and a 1-year high of $10.00. The stock has a 50 day moving average of $9.52 and a 200-day moving average of $9.20. The company has a market capitalization of $189.00 million, a P/E ratio of 117.56 and a beta of 0.34.
Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by $0.02. Global Water Resources had a net margin of 5.05% and a return on equity of 10.46%. The firm had revenue of $8.15 million during the quarter, compared to analyst estimates of $7.90 million. On average, equities research analysts anticipate that Global Water Resources will post $0.09 earnings per share for the current year.
A hedge fund recently raised its stake in Global Water Resources stock. California State Teachers Retirement System increased its stake in Global Water Resources, Inc. (NASDAQ:GWRS) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,958 shares of the utilities provider’s stock after acquiring an additional 1,100 shares during the period. California State Teachers Retirement System owned approximately 0.09% of Global Water Resources worth $178,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 17.04% of the company’s stock.
Several equities research analysts have commented on GWRS shares. Zacks Investment Research upgraded shares of Global Water Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, July 17th. Roth Capital set a $11.00 price target on shares of Global Water Resources and gave the company a “buy” rating in a research note on Saturday, May 27th.
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About Global Water Resources
Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.
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