Global Water Resources, Inc. (GWRS) to Issue Monthly Dividend of $0.03 on February 29th

Global Water Resources, Inc. (NASDAQ:GWRSGet Free Report) announced a monthly dividend on Wednesday, January 31st, Zacks reports. Shareholders of record on Thursday, February 15th will be paid a dividend of 0.025 per share by the utilities provider on Thursday, February 29th. This represents a $0.30 annualized dividend and a yield of 2.34%. The ex-dividend date is Wednesday, February 14th.

Global Water Resources has decreased its dividend by an average of 1.9% annually over the last three years and has increased its dividend every year for the last 6 years. Global Water Resources has a dividend payout ratio of 76.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Performance

Shares of GWRS opened at $12.82 on Monday. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.86 and a quick ratio of 0.86. Global Water Resources has a 12-month low of $9.34 and a 12-month high of $14.80. The business’s fifty day moving average price is $12.57 and its 200 day moving average price is $11.54. The stock has a market capitalization of $309.86 million, a PE ratio of 40.06, a price-to-earnings-growth ratio of 2.85 and a beta of 0.96.

Institutional Trading of Global Water Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG lifted its stake in Global Water Resources by 2.6% in the first quarter. UBS Group AG now owns 38,307 shares of the utilities provider’s stock valued at $476,000 after buying an additional 953 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Global Water Resources by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 28,485 shares of the utilities provider’s stock valued at $474,000 after purchasing an additional 1,123 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Global Water Resources by 160.8% during the first quarter. Tower Research Capital LLC TRC now owns 1,998 shares of the utilities provider’s stock valued at $25,000 after buying an additional 1,232 shares during the last quarter. BNP Paribas Arbitrage SNC raised its holdings in shares of Global Water Resources by 47.1% during the third quarter. BNP Paribas Arbitrage SNC now owns 4,612 shares of the utilities provider’s stock valued at $54,000 after buying an additional 1,477 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Global Water Resources by 0.7% during the second quarter. State Street Corp now owns 217,294 shares of the utilities provider’s stock worth $2,755,000 after buying an additional 1,490 shares during the period. 37.39% of the stock is currently owned by institutional investors and hedge funds.

About Global Water Resources

(Get Free Report)

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It served approximately 74,000 people in approximately 29,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

Featured Articles

Dividend History for Global Water Resources (NASDAQ:GWRS)

Receive News & Ratings for Global Water Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Water Resources and related companies with MarketBeat.com's FREE daily email newsletter.