American Water Works Company Inc (NYSE:AWK) announced a quarterly dividend on Wednesday, April 17th, RTT News reports. Investors of record on Monday, May 13th will be paid a dividend of 0.50 per share by the utilities provider on Tuesday, June 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, May 10th. This is a positive change from American Water Works’s previous quarterly dividend of $0.46.
American Water Works has raised its dividend by an average of 10.2% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. American Water Works has a dividend payout ratio of 61.2% meaning its dividend is sufficiently covered by earnings. Analysts expect American Water Works to earn $3.88 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 51.5%.
American Water Works stock traded up $1.99 during midday trading on Friday, reaching $108.27. 776,000 shares of the stock traded hands, compared to its average volume of 1,010,906. The company has a quick ratio of 0.30, a current ratio of 0.32 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $19.35 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 3.71 and a beta of 0.25. American Water Works has a fifty-two week low of $77.73 and a fifty-two week high of $108.32.
A number of brokerages have recently weighed in on AWK. Zacks Investment Research lowered shares of American Water Works from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. Boenning Scattergood reaffirmed a “hold” rating on shares of American Water Works in a research note on Thursday, May 2nd. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $121.00 price target (up from $102.00) on shares of American Water Works in a research note on Thursday, May 2nd. Wells Fargo & Co lowered shares of American Water Works from an “outperform” rating to a “market perform” rating and set a $111.00 target price for the company. in a research note on Tuesday, March 26th. They noted that the move was a valuation call. Finally, Bank of America increased their target price on shares of American Water Works from $92.00 to $103.00 and gave the company a “neutral” rating in a research note on Thursday, February 21st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. American Water Works presently has a consensus rating of “Buy” and a consensus price target of $106.50.
American Water Works Company Profile
American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States and Canada. It offers water and wastewater services to approximately 1,600 communities in 16 states serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, such as food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities; and other utilities and community water and wastewater systems.
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