50 Top Stock Picks In Q2 That Billionaires Love

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American Water Works

Seeking Alpha

Market Value: $25.6 billion
Billionaire Investor: W.H. Reaves & Co.
Percent of Portfolio: 4.1%

American Water Works is a water and electricity utility company serves around 3.4 million people in at least 16 states across the country. Because it’s a utility company, it pays dividends, but the yield only comes out to 1.5%. The reason for its appeal is due to the steady increase of its dividends over the last 65 years consecutively. The Jersey City-based advisory, W.H. Reaves and Co., bought another 762,797 shares worth almost $100 million, giving the company another 35% ownership. W.H. first bought stocks of the American Water Works back in 2008 and has enjoyed a steady increase in revenue for more than a decade.