Strong Earnings Growth on Track at American Water Works
We are reaffirming our $83 fair value estimate for American Water Works after the company reported strong 2018 earnings driven by exceptional growth in its market-based segment and regulated businesses and reaffirmed earnings guidance. Adjusted earnings per share for 2018 were $3.30 versus $3.03 in 2017. Consolidated EPS were in line with our estimate and $0.01 less than consensus.Individual segments were roughly in line with our estimates. The regulated segment contributed an incremental $0.23...
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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