2024-05-28 09:30:00 ET
Summary
- I appreciate the business models of regulated water utilities.
- American States Water's expansion to additional military bases in April is one growth tailwind moving forward.
- The company's interest coverage ratio is very strong.
- Shares of AWR appear to be priced at a 19% discount to fair value.
- The water utility could generate 40%+ cumulative total returns through 2026.
Those who have followed my work on Seeking Alpha over the years know how much I enjoy covering companies with simple business models.
Well, few business models are as easy to understand as regulated water utilities. These companies provide water and/or wastewater services to customers....
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American States Water: Buy This Storied Dividend Grower Now