This Stock is Soaring

Today’s chart highlights a utility company with a steady business model…

Longtime DailyWealth readers know utilities stocks can be some of the surest bets you can make. No matter what’s happening in the economy, folks still need to keep their lights on and their water running. Today’s company provides safe, clean water to customers…

American Water Works (AWK) is the largest publicly traded water utility company in the U.S.

It provides drinking water, wastewater, and other services to more than 15 million people across 46 states.

And while other companies have struggled during the pandemic, American Water’s business is strong… In its latest quarterly results, the company said its adjusted diluted earnings per share were $0.67, a 9.8% increase year over year.

It also raised its quarterly dividend to $0.55 per share, marking the eighth year in a row its dividend has increased 10% or more.

As you can see, the utilities model is tried and true. AWK shares are up more than 210% including dividends over the past five years. No matter what happens in the economy, folks still need water…

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Source: Daily Wealth’s Market Notes