Gabelli Raising Estimates On American Waters Works

Gabelli & Co. is out with a research report on American Waters Works (NYSE: AWK) and is raising its estimates. It has a Buy rating on shares.

In a note to clients, Gabelli & Co. writes, "We have raised our 2011 EPS estimate to $1.70, from $1.65, following 2Q and 1H results. Higher results in both 2011 periods were driven by higher rates and modest efficiency improvements partially offset by lower sales volumes."

Shares of AWK closed at $28.23 on Friday.