Summary
Water utilities have had a great run during the past 12 months.
But in the process many of them have become overvalued and now have modest prospective return.Among these, American States Water appears to be the most overvalued of the pack. I can’t advise any investor to initiate a position at these prices. Written by Sam Kovacs Introduction Water utilities seem expensive across the board. American States Water Company ( AWR ) is no exception. Dividend yields are at historical lows, valuations are at historical highs, and we have yet to find any value in the industry.Investors have been bidding […]
Full Post at seekingalpha.com