American Water Works (AWK) to Issue $0.42 Quarterly Dividend
American Water Works (NYSE:AWK) declared a quarterly dividend on Friday, December 8th, RTT News reports. Stockholders of record on Wednesday, February 7th will be paid a dividend of 0.415 per share by the utilities provider on Thursday, March 1st. This represents a $1.66 annualized dividend and a dividend yield of 1.81%.
American Water Works has increased its dividend by an average of 20.4% annually over the last three years and has increased its dividend every year for the last 8 years. American Water Works has a payout ratio of 55.1% meaning its dividend is sufficiently covered by earnings. Analysts expect American Water Works to earn $3.27 per share next year, which means the company should continue to be able to cover its $1.66 annual dividend with an expected future payout ratio of 50.8%.
Shares of American Water Works (AWK) traded up $0.44 during trading on Friday, hitting $91.52. The stock had a trading volume of 606,947 shares, compared to its average volume of 754,275. The firm has a market cap of $16,246.43, a PE ratio of 31.41, a P/E/G ratio of 3.99 and a beta of 0.27. American Water Works has a fifty-two week low of $69.96 and a fifty-two week high of $91.97. The company has a current ratio of 0.49, a quick ratio of 0.47 and a debt-to-equity ratio of 1.21.
In other American Water Works news, COO Walter Lynch sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $89.95, for a total value of $449,750.00. Following the sale, the chief operating officer now owns 97,667 shares of the company’s stock, valued at $8,785,146.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Deborah A. Degillio sold 822 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $89.75, for a total value of $73,774.50. Following the completion of the sale, the insider now directly owns 3,659 shares in the company, valued at approximately $328,395.25. The disclosure for this sale can be found here. In the last three months, insiders sold 6,856 shares of company stock worth $616,700. 0.34% of the stock is owned by corporate insiders.
A number of research analysts recently commented on AWK shares. Zacks Investment Research cut American Water Works from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Robert W. Baird upped their price objective on American Water Works from $82.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Wells Fargo & Company set a $89.00 price objective on American Water Works and gave the company a “hold” rating in a report on Thursday, October 19th. Janney Montgomery Scott cut American Water Works from a “buy” rating to a “neutral” rating in a report on Friday, November 3rd. They noted that the move was a valuation call. Finally, Bank of America started coverage on American Water Works in a report on Tuesday, October 24th. They issued a “buy” rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $85.63.
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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