American Water Raises Guidance and Settles West Virginia Chemical Spill Claims
We are maintaining our $62 per share fair value estimate for American Water Works after the company reported strong third-quarter adjusted earnings of $1.05 per share versus $0.96 in the same period last year. Management narrowed and modestly raised their 2016 earnings guidance range to $2.81-$2.86 per share, in line with our $2.84 EPS estimate.Management strongly defended the binding global settlement in principle the company announced earlier this week for all consolidated claims in West Virg...
American Water Works is a holding company. Through its subsidiaries, the company is a publicly-traded water and wastewater utility company. The company provides drinking water, wastewater and other related services to people in various states. The company's Regulated Businesses provide water and wastewater services to residential, commercial, industrial, public authority, fire service and sale for resale customers. The company's Market-Based Businesses provide complementary home services primarily to residential and smaller commercial customers and water and wastewater services to the United States government on military installations, as well as municipalities, utilities and industrial customers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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