Balyasny Asset Management LLC Makes New $398,000 Investment in American States Water Co (NYSE:AWR)
Balyasny Asset Management LLC acquired a new position in shares of American States Water Co (NYSE:AWR) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,065 shares of the utilities provider’s stock, valued at approximately $398,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of AWR. Northwestern Mutual Wealth Management Co. bought a new position in shares of American States Water in the 1st quarter valued at about $25,000. Rockefeller Capital Management L.P. raised its position in American States Water by 229.0% during the first quarter. Rockefeller Capital Management L.P. now owns 431 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 300 shares during the period. GQ Asset Management LLC bought a new stake in shares of American States Water in the 1st quarter valued at approximately $43,000. Ellevest Inc. lifted its stake in shares of American States Water by 104.0% in the 2nd quarter. Ellevest Inc. now owns 1,018 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 519 shares during the last quarter. Finally, Shelton Capital Management purchased a new position in shares of American States Water in the 2nd quarter worth approximately $207,000. Hedge funds and other institutional investors own 69.32% of the company’s stock.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded American States Water from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a research report on Monday, August 10th. UBS Group raised their target price on shares of American States Water from $65.00 to $70.00 and gave the stock a “sell” rating in a report on Monday, June 22nd. Finally, Seaport Global Securities assumed coverage on shares of American States Water in a research note on Wednesday, May 20th. They set a “buy” rating and a $84.00 price target for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $81.40.
American States Water (NYSE:AWR) last released its earnings results on Monday, August 3rd. The utilities provider reported $0.69 earnings per share for the quarter, hitting the consensus estimate of $0.69. The business had revenue of $121.28 million during the quarter, compared to the consensus estimate of $138.13 million. American States Water had a return on equity of 13.51% and a net margin of 17.66%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.64 earnings per share. Equities analysts anticipate that American States Water Co will post 2.29 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 1.85%. The ex-dividend date was Friday, August 14th. This is an increase from American States Water’s previous quarterly dividend of $0.31. American States Water’s dividend payout ratio (DPR) is currently 62.91%.
American States Water Profile
American States Water Company, through its subsidiaries, provides water and electric services to residential, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity.
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