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AWK

American Water

$102.44

0.05 (0.05%)

11:55
04/17/19
04/17
11:55
04/17/19
11:55

American Water increases quarterly dividend by 9.9%

American Water Works Company announced that its board increased its quarterly cash dividend payment to 50c per share from 45.5c per share, a 9.9% percent increase. The company has increased its dividend every year since its IPO in April 2008. The increased dividend is consistent with American Water's historical dividend practice, which is to link dividend increases to earnings per share growth and target a payout ratio between 50%-60% of net income.

  • 10

    May

AWK American Water
$102.44

0.05 (0.05%)

12/12/18
WELS
12/12/18
NO CHANGE
Target $104
WELS
Outperform
American Water price target raised to $104 from $97 at Wells Fargo
Wells Fargo analyst Jonathan Reeder raised his price target for American Water to $104 from $97 following the company's analyst day. Reeder notes that management utilized the analyst day to highlight the company's low risk, regulated-centric water and wastewater strategy. Specifically, American Water established 2019 EPS guidance of $3.54-$3.64 and continues to guide toward the top half of the 7%-10% EPS CAGR range through 2023, he notes. The analyst continues to be attracted to the above average growth story and has a high level of confidence in management's ability to deliver on its goals. He reiterates an Outperform rating on the shares.
03/26/19
WELS
03/26/19
DOWNGRADE
WELS
Market Perform
American Water downgraded to Market Perform from Outperform at Wells Fargo
03/26/19
WELS
03/26/19
DOWNGRADE
Target $109
WELS
Market Perform
California Water Service, American Water downgraded at Wells Fargo on valuation
Wells Fargo analyst Jonathan Reeder downgraded California Water Service (CWT) to Underperform and American Water (AWK) to Market Perform on valuation, also lowering their price targets by $1 and $2 respectively to $49 and $109. The analyst notes that although low interest rates, strong fundamentals, and the appeal of ESG - or environmental, social, and governance - investing support water utilities, the sector has become expensive on both price-to-earnings and interest rate valuation basis. Specifically, Reeded says California Water Service and American Water now both trade at about a 25% premium on price to earnings relative to the other water peers, adding that a more in-line multiple is appropriate given his forecasted growth rates for these utilities around the 6-8% peer group average.
03/27/19
03/27/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Scotts Miracle-Gro (SMG) downgraded to Market Perform at Raymond James with analyst Joseph Altobello saying shares have bounced sharply and year-over-year comparisons in its U.S. Consumer business become notably more challenging entering the spring and are likely to limit further multiple expansion. 2. Kinder Morgan (KMI) downgraded to Neutral from Buy at Citi with analyst Mirek Zak saying after rallying 30% year-to-date, the shares shares appear fairly valued with growth opportunities looking balanced against downside risk over the near-term. 3. Acacia Communications (ACIA) downgraded to Underweight from Equal Weight at Morgan Stanley. 4. American Water (AWK) downgraded to Market Perform from Outperform at Wells Fargo, while California Water Service (CWT) was downgraded to Underperform from Market Perform. 5. Cronos Group (CRON) downgraded to Sell from Hold at Canaccord with analyst Matt Bottomley citing valuation and a soft start in the Canadian adult-use market. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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CDEV

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AAL

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MSFT

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XOG

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BP

BP

$42.34

0.02 (0.05%)

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DAL

Delta Air Lines

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SRCI

SRC Energy

$5.46

-0.06 (-1.09%)

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PDCE

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$36.67

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UAL

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KEYS

Keysight Technologies

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CRZO

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AACAY

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$0.00

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, DIS

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, DGX

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LPX

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RDY

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JACK

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