Aris Water Solutions (NYSE:ARIS) Stock Price Up 9.3% Following Dividend Announcement

Aris Water Solutions, Inc. (NYSE:ARIS) rose 9.3% during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $17.27 and last traded at $17.05. Approximately 372,604 shares changed hands during mid-day trading, an increase of 25% from the average daily 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. Investors of record on Thursday, June 6th will be paid a $0.105 dividend. This is an increase from Aris Water Solutions’s previous quarterly dividend of $0.09. This represents a $0.42 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, June 6th. Aris Water Solutions’s dividend payout ratio (DPR) is 60.00%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ARIS shares. The Goldman Sachs Group raised their price objective on Aris Water Solutions from $14.50 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Citigroup increased their price objective on shares of Aris Water Solutions from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Wells Fargo & Company lifted their target price on shares of Aris Water Solutions from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, March 7th. Finally, TheStreet raised shares of Aris Water Solutions from a “d+” rating to a “c-” rating in a report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.25.

Aris Water Solutions Trading Up 9.4 %

The stock has a market capitalization of $985.90 million, a P/E ratio of 28.43 and a beta of 1.65. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $13.73 and a two-hundred day moving average price of $10.31.

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

Hedge Funds Weigh In On Aris Water Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ranger Investment Management L.P. lifted its position in shares of Aris Water Solutions by 1.5% during the 4th quarter. Ranger Investment Management L.P. now owns 2,040,756 shares of the company’s stock valued at $17,122,000 after acquiring an additional 30,269 shares during the period. Wellington Management Group LLP grew its stake in shares of Aris Water Solutions by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 1,290,231 shares of the company’s stock valued at $10,825,000 after buying an additional 27,988 shares during the period. Kayne Anderson Capital Advisors LP increased its position 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 valued at $16,886,000 after buying an additional 575,536 shares in the last quarter. Wasatch Advisors LP raised its stake in Aris Water Solutions by 14.4% during the 4th quarter. Wasatch Advisors LP now owns 686,694 shares of the company’s stock worth $5,761,000 after buying an additional 86,207 shares during the period. Finally, Scout Investments Inc. boosted its holdings in Aris Water Solutions by 9.2% in the fourth quarter. Scout Investments Inc. now owns 568,267 shares of the company’s stock worth $4,768,000 after acquiring an additional 47,692 shares in the last quarter. 39.71% of the stock is currently owned by institutional investors.

About Aris Water Solutions

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.