Increasing Our Market-Based Business Growth Assumption and Raising Our FVE to $83
We are reaffirming our $80 fair value estimate for American Water Works, along with our narrow-moat and stable moat trend ratings, after the company reported strong second-quarter 2018 results and reaffirmed its 2018 earnings guidance range of $3.22-$3.32 per share. Adjusted EPS for the recently ended quarter were $0.83 versus $0.73 in the same period last year. The company posted excellent results in both operating segments. The Regulated segment was $0.08 per share positive versus last year an...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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