Cramer said AWK was a sell a few months ago. Said it was over-valued. Hows your foot taste? Another hack from Motely Fool said awk was over valued just a couple weeks ago. I wrote him and told him he was just plain wrong.
I have owned this stock since the initial IPO at $21.50. I have kept buying on dips ever since and still do. I have over 1300 shares now. Problem with trying to time the market is you will miss out on dividend reinvestment that is how you acquire wealth over the longterm. This not a market timing stock in my opinion.
The same so called investment company that downgraded AWR in Feb to SELL now 2 months later upgrades AWR today. Tell me that there was no insiders in that company that didnt buy when it plunged from $47 to $38 after their downgrade and now they upgrade and make some profits. Conspiracy theory? Maybe yes, maybe no. Thats why I always buy more after some dumb #$%$ downgrades water stocks. Look at the idiot Cramer saying to sell AWK at $50 and now its $74.
"Is the dividend safe"?.....Slow down there Turbo. This company hasnt missed a dividend for like 60 years! I think you are over reacting. Missed by a bunch?....6 cents is a bunch? I see it as a buying op.
I have owned water stocks since the mid 90's. I still have every stock from AWK and AWR that I ever bought. Right now I have a position in AWR that I am down in. First time this has happened. Dont panic, these water stocks get downgraded at least every year. Cramer said that AWK was no longer a profitable stock to own..... couple months later and it hit all time highs. People still need water!
Whoa, 10% down in one day? I have owned AWK and AWR for decades and have never seen anything like this before. I am guessing AWR didnt hit their marks? AWK only missed by 2 cents. I do realize as the op says that these stocks have acted like growth stocks.
My guess is with the volatility in the stock market investors are getting into safer stocks and also the Fed says they are putting a hold on raising rates. AWK is also hitting new highs.
All these guys keep downgrading awk and it takes a hit for awhile. Then kaboom..You have to be patient with this stock and long. I worked for awk for 34 years . Bought 400 shares at 21.50 at the IPO, worth 8600 now worth close to 30K and I can sleep at night. Also making money with AWR
Friend of mine had a theory as to the drop in price. There was a strong jobs report and possibly investors are thinking that a interest rate increase is more likely now and utility companies like low rates.
Thanks qo!....might want to add AWK into the mix also. I originally bought 400 shares at the IPO @ 21.50/share for $8600 and now worth over 27K. Since then I have bought more and even recently at $53/share.
Water stocks are not going away any time soon.
Sounds like a hack job to me. Wonder who is shorting this stock right now. This stock has a great longterm history and xlnt dividend history. I have been in water stocks for over 30 years and just think long term. I worked for AWK for 34 years.
Volatile because of the fed teasing about raising rates. Utilities stocks are rate sensitive. I have owned AWR and AWK for many years. Great long term stocks.