Wells Fargo Believes American Water (NYSE: AWK) Still Has Room to Grow

By Austin Angelo

In a report released yesterday, Jonathan Reeder from Wells Fargo maintained a Buy rating on American Water (AWKResearch Report). The company’s shares closed yesterday at $98.66, close to its 52-week high of $98.98.

Reeder has an average return of 14.8% when recommending American Water.

According to TipRanks.com, Reeder is ranked #2027 out of 5188 analysts.

Currently, the analyst consensus on American Water is a Moderate Buy with an average price target of $104.

See today’s analyst top recommended stocks >>

The company has a one-year high of $98.98 and a one-year low of $77.73. Currently, American Water has an average volume of 1.04M.

Based on the recent corporate insider activity of 50 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.