Global Water Resources, Inc. (GWRS) Raises Dividend to $0.02 Per Share
Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Friday, September 1st, Wall Street Journal reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.0231 per share by the utilities provider on Friday, September 29th. This represents a $0.28 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, September 14th. This is a positive change from Global Water Resources’s previous monthly dividend of $0.02.
Shares of Global Water Resources (GWRS) opened at 9.58 on Friday. The stock’s 50 day moving average is $9.52 and its 200 day moving average is $9.17. Global Water Resources has a 12 month low of $7.50 and a 12 month high of $10.00. The firm has a market cap of $187.83 million, a P/E ratio of 116.83 and a beta of 0.34.
Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The firm had revenue of $8.15 million during the quarter, compared to analysts’ expectations of $7.90 million. Global Water Resources had a return on equity of 10.46% and a net margin of 5.05%. Equities research analysts expect that Global Water Resources will post $0.09 EPS for the current year.
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A hedge fund recently raised its stake in Global Water Resources stock. State Street Corp boosted its stake in Global Water Resources, Inc. (NASDAQ:GWRS) by 15.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 100,674 shares of the utilities provider’s stock after buying an additional 13,733 shares during the period. State Street Corp owned approximately 0.51% of Global Water Resources worth $997,000 at the end of the most recent reporting period. 17.04% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on GWRS shares. Roth Capital set a $11.00 price target on Global Water Resources and gave the stock a “buy” rating in a research note on Saturday, May 27th. Zacks Investment Research cut Global Water Resources from a “hold” rating to a “sell” rating in a research note on Friday, August 11th.
About Global Water Resources
Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.
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