Goldman Sachs has maintained its Buy recommendation for environmental infrastructure firm Aris Water Solutions Inc (NYSE:ARIS) on Friday, with a one-year price target of $14.66, suggesting a potential upside of 48.26% from the company's latest closing price of $9.89.
Aris Water Solutions has projected an annual revenue of $421 million, indicating a growth rate of 16.45%. Despite not having increased its dividend in the past three years, Aris continues to maintain a dividend payout ratio of 1.02. This suggests that the firm is utilizing its reserves to sustain dividends, which currently yield 3.64%, higher than the historical average by 1.01 standard deviations.
On August 2, 2023, the firm declared a quarterly dividend of $0.09 per share which was paid out on September 28, 2023. This move adds to Aris Water Solutions' appeal as an investment option.
However, over the last quarter, there has been an 8.31% decrease in institutional ownership to 30,780K shares. Despite this decline, Aris Water Solutions still boasts 244 funds or institutions as shareholders, with an average portfolio weight of 0.09%.
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