American States Water (NYSE:AWR) Coverage Initiated by Analysts at Bank of America

Stock analysts at Bank of America began coverage on shares of American States Water (NYSE:AWR - Get Free Report) in a research note issued on Wednesday, Marketbeat Ratings reports. The firm set a "neutral" rating and a $85.00 price target on the utilities provider's stock. Bank of America's price target would indicate a potential upside of 2.72% from the stock's previous close.

Separately, StockNews.com cut American States Water from a "hold" rating to a "sell" rating in a research report on Wednesday, November 27th.

American States Water Stock Performance

NYSE:AWR traded down $0.04 during mid-day trading on Wednesday, reaching $82.75. 252,212 shares of the stock were exchanged, compared to its average volume of 219,660. The stock has a market capitalization of $3.10 billion, a P/E ratio of 27.89, a P/E/G ratio of 4.32 and a beta of 0.51. American States Water has a 1 year low of $66.03 and a 1 year high of $87.50. The company has a 50 day simple moving average of $84.17 and a 200-day simple moving average of $80.28. The company has a quick ratio of 0.64, a current ratio of 0.69 and a debt-to-equity ratio of 0.86.

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

Hedge Funds Weigh In On American States Water

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC grew its stake in shares of American States Water by 8,274.7% during the 3rd quarter. Pathway Financial Advisers LLC now owns 309,363 shares of the utilities provider's stock worth $25,767,000 after purchasing an additional 305,669 shares during the period. Millennium Management LLC grew its position in American States Water by 205.5% during the second quarter. Millennium Management LLC now owns 440,598 shares of the utilities provider's stock worth $31,974,000 after buying an additional 296,361 shares during the period. Principal Financial Group Inc. increased its holdings in American States Water by 107.1% in the third quarter. Principal Financial Group Inc. now owns 381,981 shares of the utilities provider's stock valued at $31,815,000 after buying an additional 197,556 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in American States Water by 114.0% in the third quarter. Assenagon Asset Management S.A. now owns 271,325 shares of the utilities provider's stock valued at $22,599,000 after buying an additional 144,510 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of American States Water by 182.8% during the 2nd quarter. Victory Capital Management Inc. now owns 220,718 shares of the utilities provider's stock valued at $16,018,000 after acquiring an additional 142,664 shares during the period. Institutional investors and hedge funds own 75.24% of the company's stock.

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.