American Water Works (AWK) Rating Reiterated by Boenning Scattergood

American Water Works (NYSE:AWK)‘s stock had its “neutral” rating reiterated by equities research analysts at Boenning Scattergood in a research note issued on Thursday.

The analysts wrote, “We recently hosted Ormat CEO Isaac Angel for investor meetings on the West Coast. Key investor focus areas included: (1) status of Ormat’s Puna, HI plant; (2) risk profile on international project development; (3) competitiveness of geothermal vs. other renewables; (4) US Geothermal synergies/pipeline and (5) Ormat’s strategy for energy storage growth. While management spoke to these areas, we also believe Ormat’s improved technology competitiveness across geothermal sub-markets may be an underappreciated element of the story. We see that competitiveness helping Ormat execute to plan toward its FY22 target of $600M adj. EBITDA, primarily via geothermal asset expansions and repowering. We update our model to reflect ORA’s recently restated financials and maintain our Perform rating.””

AWK has been the subject of a number of other reports. HSBC raised shares of American Water Works from a “hold” rating to a “buy” rating and upped their price target for the stock from $74.63 to $80.15 in a research note on Friday, March 23rd. ValuEngine lowered shares of American Water Works from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Zacks Investment Research raised shares of American Water Works from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Wednesday, June 13th. UBS Group started coverage on shares of American Water Works in a research note on Thursday, March 8th. They set a “buy” rating and a $89.00 target price for the company. They noted that the move was a valuation call. Finally, Janney Montgomery Scott raised shares of American Water Works from a “neutral” rating to a “buy” rating and increased their target price for the company from $87.00 to $92.00 in a research note on Monday, April 16th. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $88.68.

Shares of NYSE:AWK opened at $85.74 on Thursday. The company has a market capitalization of $15.19 billion, a PE ratio of 28.30, a P/E/G ratio of 3.35 and a beta of 0.15. American Water Works has a twelve month low of $76.04 and a twelve month high of $92.37. The company has a quick ratio of 0.27, a current ratio of 0.29 and a debt-to-equity ratio of 1.17.

American Water Works (NYSE:AWK) last issued its quarterly earnings results on Wednesday, May 2nd. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. The company had revenue of $761.00 million during the quarter, compared to analyst estimates of $726.74 million. American Water Works had a net margin of 13.06% and a return on equity of 10.20%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS. equities analysts forecast that American Water Works will post 3.27 earnings per share for the current year.

In other news, EVP Michael A. Sgro sold 16,026 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $80.54, for a total transaction of $1,290,734.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Loyd A. Warnock sold 2,870 shares of the business’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $81.45, for a total transaction of $233,761.50. Following the sale, the senior vice president now owns 14,410 shares in the company, valued at approximately $1,173,694.50. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Brasada Capital Management LP raised its holdings in shares of American Water Works by 2.0% during the first quarter. Brasada Capital Management LP now owns 43,010 shares of the utilities provider’s stock valued at $3,532,000 after acquiring an additional 823 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in shares of American Water Works by 45.3% during the first quarter. Dynamic Technology Lab Private Ltd now owns 5,749 shares of the utilities provider’s stock valued at $472,000 after acquiring an additional 1,792 shares during the period. Shamrock Asset Management LLC raised its holdings in shares of American Water Works by 5,952.6% during the first quarter. Shamrock Asset Management LLC now owns 13,013 shares of the utilities provider’s stock valued at $1,048,000 after acquiring an additional 12,798 shares during the period. Suntrust Banks Inc. raised its holdings in shares of American Water Works by 44.1% during the first quarter. Suntrust Banks Inc. now owns 24,408 shares of the utilities provider’s stock valued at $2,004,000 after acquiring an additional 7,466 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of American Water Works by 6.3% during the first quarter. Allianz Asset Management GmbH now owns 843,738 shares of the utilities provider’s stock valued at $69,296,000 after acquiring an additional 50,168 shares during the period. Institutional investors and hedge funds own 83.69% 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 and Canada. It offers water and wastewater services to approximately 1,600 communities in 16 states. The company operates approximately 72 surface water treatment plants; 527 groundwater treatment plants; 8 combined treatment plants; 127 wastewater treatment plants; 50,382 miles of transmission, distribution, and collection mains and pipes; 1,103 groundwater wells; 1,428 water and wastewater pumping stations; 1,313 treated water storage facilities; and 80 dams.

Analyst Recommendations for American Water Works (NYSE:AWK)

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