H2O America (NASDAQ:HTO) Upgraded at BTIG Research

BTIG Research upgraded shares of H2O America (NASDAQ:HTO) from a neutral rating to a buy rating in a research note published on Friday morning, Marketbeat Ratings reports. BTIG Research currently has $61.00 price objective on the utilities provider’s stock.

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of H2O America in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.75.

H2O America Trading Up 2.1%

HTO opened at $51.59 on Friday. The business has a fifty day moving average price of $47.95 and a 200 day moving average price of $49.34. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.68 and a quick ratio of 0.68. H2O America has a 12 month low of $43.75 and a 12 month high of $57.17. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 2.55 and a beta of 0.49.

H2O America (NASDAQ:HTO) last posted its quarterly earnings results on Monday, October 27th. The utilities provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.10. The company had revenue of $240.55 million for the quarter, compared to analyst estimates of $232.27 million. H2O America had a return on equity of 7.87% and a net margin of 13.59%. Sell-side analysts expect that H2O America will post 2.75 earnings per share for the current fiscal year.

H2O America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 10th were paid a dividend of $0.42 per share. The ex-dividend date was Monday, November 10th. This represents a $1.68 annualized dividend and a yield of 3.3%. H2O America’s payout ratio is presently 53.33%.

Hedge Funds Weigh In On H2O America

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of H2O America during the 4th quarter worth approximately $1,375,000. Assenagon Asset Management S.A. acquired a new stake in H2O America during the 4th quarter worth $13,562,000. Wealth Enhancement Advisory Services LLC purchased a new stake in H2O America in the fourth quarter valued at $440,000. GAMMA Investing LLC acquired a new position in H2O America in the fourth quarter valued at $121,000. Finally, JPMorgan Chase & Co. acquired a new position in H2O America in the third quarter valued at $10,556,000. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

About H2O America

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.