Global Water Resources, Inc. (NASDAQ:GWRS) Plans $0.03 Monthly Dividend

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Friday, January 30th. Investors of record on Friday, February 13th will be given a dividend of 0.0253 per share by the utilities provider on Friday, February 27th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, February 13th.

Global Water Resources has decreased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Global Water Resources has a dividend payout ratio of 107.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Global Water Resources to earn $0.30 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 100.0%.

Global Water Resources Stock Up 1.1%

GWRS stock traded up $0.10 during trading on Wednesday, reaching $9.21. The stock had a trading volume of 11,594 shares, compared to its average volume of 54,227. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $264.79 million, a price-to-earnings ratio of 57.57 and a beta of 0.99. Global Water Resources has a one year low of $8.28 and a one year high of $11.84. The company’s 50 day moving average is $8.63 and its two-hundred day moving average is $9.39.

Global Water Resources (NASDAQ:GWRS) last announced its earnings results on Wednesday, November 12th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The business had revenue of $15.52 million during the quarter, compared to analysts’ expectations of $15.20 million. Global Water Resources had a return on equity of 6.84% and a net margin of 7.87%. Equities research analysts forecast that Global Water Resources will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Global Water Resources

Several institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC increased its stake in shares of Global Water Resources by 52.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 29,925 shares of the utilities provider’s stock worth $253,000 after purchasing an additional 10,355 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Global Water Resources by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 312,753 shares of the utilities provider’s stock worth $2,643,000 after buying an additional 10,076 shares during the period. North Star Investment Management Corp. grew its stake in Global Water Resources by 5.2% in the 4th quarter. North Star Investment Management Corp. now owns 304,448 shares of the utilities provider’s stock valued at $2,573,000 after buying an additional 15,000 shares in the last quarter. TSP Capital Management Group LLC raised its holdings in Global Water Resources by 134.9% during the 4th quarter. TSP Capital Management Group LLC now owns 757,706 shares of the utilities provider’s stock valued at $6,403,000 after acquiring an additional 435,129 shares during the period. Finally, Perigon Wealth Management LLC purchased a new stake in shares of Global Water Resources during the fourth quarter worth $162,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.