MGB Wealth Management LLC Lowers Stock Holdings in American States Water (NYSE:AWR)

MGB Wealth Management LLC lessened its stake in American States Water (NYSE:AWR) by 6.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,321 shares of the utilities provider’s stock after selling 240 shares during the quarter. MGB Wealth Management LLC’s holdings in American States Water were worth $276,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in AWR. ORG Partners LLC purchased a new position in shares of American States Water in the 2nd quarter valued at about $42,000. Assetmark Inc. purchased a new position in shares of American States Water in the 3rd quarter valued at about $50,000. CWM LLC boosted its stake in shares of American States Water by 31.4% in the 2nd quarter. CWM LLC now owns 1,045 shares of the utilities provider’s stock valued at $76,000 after buying an additional 250 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of American States Water by 18,820.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 946 shares of the utilities provider’s stock valued at $79,000 after buying an additional 941 shares during the period. Finally, Quarry LP purchased a new stake in American States Water during the second quarter worth approximately $80,000. Hedge funds and other institutional investors own 75.24% of the company’s stock.

American States Water Trading Up 1.2 %

NYSE:AWR opened at $85.03 on Friday. The firm has a market cap of $3.19 billion, a P/E ratio of 28.63, a PEG ratio of 4.42 and a beta of 0.49. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 0.86. The stock’s 50 day simple moving average is $84.02 and its 200-day simple moving average is $79.69. American States Water has a 12-month low of $66.03 and a 12-month high of $87.50.

American States Water (NYSE:AWR) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03). American States Water had a net margin of 19.26% and a return on equity of 13.53%. The company had revenue of $161.78 million during the quarter, compared to analyst estimates of $161.00 million. During the same period in the previous year, the firm posted $0.85 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts anticipate that American States Water will post 3.02 EPS for the current year.

American States Water Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.4655 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 2.19%. American States Water’s dividend payout ratio (DPR) is presently 62.63%.

Analyst Ratings Changes

Several research analysts have commented on the company. Wells Fargo & Company raised American States Water from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $80.00 to $87.00 in a research report on Wednesday, July 31st. StockNews.com lowered American States Water from a “hold” rating to a “sell” rating in a report on Saturday, November 16th.

About American States Water

American States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, 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.