Wells Fargo Reaffirms Their Hold Rating on American Water (AWK)
In a report released today, Jonathan Reeder from Wells Fargo maintained a Hold rating on American Water (AWK). The company’s shares closed last Thursday at $146.97, close to its 52-week high of $148.51.
According to TipRanks.com, Reeder is a 3-star analyst with an average return of 7.1% and a 61.3% success rate. Reeder covers the Utilities sector, focusing on stocks such as American States Water Company, Brookfield Infrastructure, and Pnm Resources.
Currently, the analyst consensus on American Water is a Moderate Buy with an average price target of $136.50.
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The company has a one-year high of $148.51 and a one-year low of $92.00. Currently, American Water has an average volume of 884.3K.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AWK in relation to earlier this year.
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American Water Works Co., Inc. engages in the provision of complementary water and wastewater services. It operates through the following segments: Regulated Businesses; Market-Based Businesses; and Other. The Regulated Businesses segment provides water and wastewater services to customers. The Market-Based Businesses segment is responsible for Military Services Group, Contract Operations Group, Homeowner Services Group, and Keystone Operations. The Other segment includes corporate costs that are not allocated to the Company’s operating segments, eliminations of inter-segment transactions, fair value adjustments and associated income and deductions related to the acquisitions that have not been allocated to the operating segments for evaluation of performance and allocation of resource purposes. The company was founded in 1886 and is headquartered in Camden, NJ.