American Water Works Company, Inc. (NYSE:AWK) Shares Set to Pay Quarterly Dividend of $0.90

American Water Works Company, Inc. (NYSE:AWK) announced a quarterly dividend on Tuesday, October 27th. Shareholders of record on Thursday, November 12th will be paid a dividend of $0.8950 per share by the utilities provider on Tuesday, December 1st. This represents a $3.58 annualized dividend and a yield of 2.5%. The ex-dividend date is Thursday, November 12th.

American Water Works has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 18 years. American Water Works has a payout ratio of 58.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect American Water Works to earn $6.60 per share next year, which means the company should continue to be able to cover its $3.58 annual dividend with an expected future payout ratio of 54.2%.

American Water Works Stock Performance

AWK opened at $141.14 on Wednesday. The stock has a fifty day moving average of $135.29 and a 200-day moving average of $132.25. American Water Works has a 12-month low of $120.57 and a 12-month high of $144.14.

American Water Works (NYSE:AWK) last issued its earnings results on Wednesday, July 29th. The utilities provider reported $1.61 EPS for the quarter, topping the consensus estimate of $1.53 by $0.08. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same period last year, the business earned $1.48 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. On average, sell-side analysts anticipate that American Water Works will post 6.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AWK. BlackRock Inc. purchased a new stake in shares of American Water Works during the 2nd quarter worth about $2,712,173,000. GQG Partners LLC bought a new stake in shares of American Water Works in the 2nd quarter valued at approximately $1,171,477,000. Wellington Management Group LLP grew its stake in shares of American Water Works by 35.2% in the 2nd quarter. Wellington Management Group LLP now owns 14,911,963 shares of the utilities provider’s stock valued at $1,962,116,000 after buying an additional 3,883,057 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of American Water Works in the 2nd quarter valued at approximately $443,787,000. Finally, Bank of America Corp DE bought a new stake in shares of American Water Works in the 2nd quarter valued at approximately $367,632,000. 86.58% of the stock is owned by institutional investors and hedge funds.

About American Water Works

American Water Works Company, Inc is a public water and wastewater utility that provides essential services to residential, commercial, industrial and institutional customers. Through its regulated businesses, the company supplies drinking water, collects and treats wastewater, and manages related infrastructure, including treatment plants, pipelines, storage facilities and customer service systems.

Founded in 1886, American Water has grown into one of the largest water and wastewater service providers in the United States.