Aris Water Solutions (NYSE:ARIS) Trading Up 9.3% After Dividend Announcement

Aris Water Solutions, Inc. (NYSE:ARIS)’s share price shot up 9.3% during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as $17.27 and last traded at $17.05. 372,604 shares were traded during trading, an increase of 25% from the average session volume of 297,880 shares. The stock had previously closed at $15.60.

The newly announced dividend which will be paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th will be issued a $0.105 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This is a boost from Aris Water Solutions’s previous quarterly dividend of $0.09. This represents a $0.42 annualized dividend and a yield of 2.49%. Aris Water Solutions’s payout ratio is 60.00%.

Wall Street Analysts Forecast Growth

ARIS has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Aris Water Solutions from $9.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, March 7th. The Goldman Sachs Group lifted their target price on Aris Water Solutions from $14.50 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Stifel Nicolaus upped their price target on Aris Water Solutions from $17.00 to $20.00 and gave the company a “buy” rating in a report on Thursday. Citigroup lifted their price objective on Aris Water Solutions from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Finally, TheStreet upgraded shares of Aris Water Solutions from a “d+” rating to a “c-” rating in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.42.

Aris Water Solutions Stock Performance

The business has a 50-day moving average of $13.97 and a 200 day moving average of $10.40. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $973.76 million, a PE ratio of 28.08 and a beta of 1.65.

Aris Water Solutions (NYSE:ARIS) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). Aris Water Solutions had a net margin of 4.82% and a return on equity of 4.06%. The firm had revenue of $104.13 million for the quarter, compared to the consensus estimate of $97.65 million. Equities research analysts anticipate that Aris Water Solutions, Inc. will post 0.97 EPS for the current fiscal year.

Institutional Trading of Aris Water Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC purchased a new position in shares of Aris Water Solutions during the 1st quarter worth $359,000. Kayne Anderson Capital Advisors LP raised its holdings in Aris Water Solutions by 93.2% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 1,193,336 shares of the company’s stock worth $16,886,000 after purchasing an additional 575,536 shares during the period. GSA Capital Partners LLP lifted its position in Aris Water Solutions by 271.8% during the first quarter. GSA Capital Partners LLP now owns 87,979 shares of the company’s stock valued at $1,245,000 after purchasing an additional 64,318 shares in the last quarter. Saxon Interests Inc. bought a new stake in Aris Water Solutions during the first quarter valued at about $142,000. Finally, Bridge City Capital LLC increased its position in Aris Water Solutions by 3.4% in the first quarter. Bridge City Capital LLC now owns 171,730 shares of the company’s stock worth $2,430,000 after buying an additional 5,708 shares in the last quarter. 39.71% of the stock is owned by hedge funds and other institutional investors.

Aris Water Solutions Company Profile

Aris Water Solutions, Inc, an environmental infrastructure and solutions company, provides water handling and recycling solutions. The company's produced water handling business gathers, transports, unless recycled, and handles produced water generated from oil and natural gas production. Its water solutions business develops and operates recycling facilities to treat, store, and recycle produced water.