American States Water Company (NYSE:AWR) announced a quarterly dividend on Wednesday, August 2nd, Wall Street Journal reports. Investors of record on Tuesday, August 15th will be paid a dividend of 0.255 per share by the utilities provider on Friday, September 1st. This represents a $1.02 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, August 11th. This is an increase from American States Water’s previous quarterly dividend of $0.24.
American States Water has increased its dividend payment by an average of 6.3% per year over the last three years and has raised its dividend annually for the last 62 consecutive years. American States Water has a dividend payout ratio of 60.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect American States Water to earn $1.78 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 57.3%.
Shares of American States Water (NYSE:AWR) opened at 50.75 on Friday. The company’s 50-day moving average is $48.33 and its 200 day moving average is $45.43. The stock has a market capitalization of $1.86 billion, a P/E ratio of 27.42 and a beta of 0.47. American States Water has a 52 week low of $37.47 and a 52 week high of $51.01.
American States Water (NYSE:AWR) last posted its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.17. The company had revenue of $113.20 million for the quarter, compared to analyst estimates of $119.23 million. American States Water had a net margin of 15.44% and a return on equity of 13.70%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.45 earnings per share. On average, equities analysts forecast that American States Water will post $1.69 EPS for the current fiscal year.
A number of research firms have recently issued reports on AWR. BidaskClub upgraded shares of American States Water from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. US Capital Advisors reiterated a “hold” rating on shares of American States Water in a research note on Monday, July 17th. Finally, Zacks Investment Research lowered shares of American States Water from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th.
In other news, CEO Robert J. Sprowls sold 13,304 shares of American States Water stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $47.00, for a total transaction of $625,288.00. Following the sale, the chief executive officer now owns 108,937 shares in the company, valued at $5,120,039. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Sprowls sold 15,200 shares of American States Water stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $49.00, for a total transaction of $744,800.00. Following the sale, the chief executive officer now owns 109,454 shares in the company, valued at approximately $5,363,246. The disclosure for this sale can be found here. Insiders have sold 40,564 shares of company stock worth $1,881,391 in the last quarter. Insiders own 1.43% of the company’s stock.
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American States Water Company Profile
American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc (ASUS), as well as ASUS’ subsidiaries, such as Fort Bliss Water Services Company (FBWS), Terrapin Utility Services, Inc (TUS), Old Dominion Utility Services, Inc (ODUS), Palmetto State Utility Services, Inc (PSUS) and Old North Utility Services, Inc (ONUS).
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