American Water Works (NYSE:AWK) Sets New 12-Month High – Here’s Why

Shares of American Water Works Company, Inc. (NYSE:AWK) reached a new 52-week high during trading on Thursday . The company traded as high as $152.14 and last traded at $150.75, with a volume of 264842 shares changing hands. The stock had previously closed at $146.19.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AWK shares. StockNews.com raised shares of American Water Works from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. decreased their target price on American Water Works from $147.00 to $128.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company increased their price objective on American Water Works from $133.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $141.86.

American Water Works Stock Down 3.0 %

The firm’s 50 day moving average price is $135.56 and its two-hundred day moving average price is $134.49. The company has a market capitalization of $28.74 billion, a P/E ratio of 27.34, a PEG ratio of 2.80 and a beta of 0.68. The company has a current ratio of 0.39, a quick ratio of 0.35 and a debt-to-equity ratio of 1.21.

American Water Works (NYSE:AWK) last released its quarterly earnings data on Wednesday, February 19th. The utilities provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. American Water Works had a net margin of 22.44% and a return on equity of 10.29%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Equities research analysts forecast that American Water Works Company, Inc. will post 5.71 EPS for the current year.

Hedge Funds Weigh In On American Water Works

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in American Water Works during the fourth quarter worth about $294,524,000. Victory Capital Management Inc. lifted its position in American Water Works by 120.7% in the 4th quarter. Victory Capital Management Inc. now owns 3,174,395 shares of the utilities provider’s stock worth $395,180,000 after buying an additional 1,736,258 shares during the last quarter. Bank of America Corp DE raised its stake in shares of American Water Works by 38.4% during the fourth quarter. Bank of America Corp DE now owns 2,695,734 shares of the utilities provider’s stock valued at $335,592,000 after acquiring an additional 747,316 shares during the last quarter. Groupama Asset Managment raised its holdings in shares of American Water Works by 4,227.0% during the third quarter. Groupama Asset Managment now owns 711,927 shares of the utilities provider’s stock valued at $104,000 after acquiring an additional 695,474 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of American Water Works during the fourth quarter valued at about $71,120,000. Institutional investors own 86.58% of the company’s stock.

About American Water Works

American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,700 communities in 14 states serving approximately 3.5 million active customers. The company serves residential customers; commercial customers, including 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, such as schools and universities; and other utilities and community water and wastewater systems.