The 3 Best Water Stocks to Buy in April 2024


  • Without any other underlying alternatives, these best water stocks to buy in April deserve the spotlight.
  • American Water Works (AWK): American Water’s utility play features a big coverage map.
  • Xylem (XYL): Xylem’s water technologies should prove invaluable.
  • Primo Water (PRMW): Primo Water’s pure-play business is garnering traction.
Best Water Stocks to Buy in April - The 3 Best Water Stocks to Buy in April 2024

Source: Sambulov Yevgeniy/

While there’s much discussion about precious resources these days given heightened inflation concerns, there’s nothing more critical than water, which brings us to the best water stocks to buy in April.

Simply stated, no alternative to water exists. We have what we have and that’s about it. Geopolitically, then, researchers are concerned that military conflicts will be waged over water rights and access in the next 50 to 100 years. It’s also projected to be a high probability.

On a less draconian note, water management will be critical, no matter whether we fight over the resource or not. Therefore, investors should keep close tabs on these intriguing ideas for the best water stocks to buy in April.

American Water Works (AWK)

A photo of water being poured into a glass that's sitting on a table.
Source: HQuality/

Operating under the utilities sector, American Water Works (NYSE:AWK) plies its trade in the regulated water arena. Per its public profile, it provides the namesake service – including wastewater management. Its coverage map extends out to 1,700 communities in 14 states serving approximately 3.5 million active customers. It serves a variety of customers, including residential, commercial and specialty categories like food-and-beverage providers.

Last fiscal year, American Water had a bit of a mixed performance. For example, in the first quarter, the company posted earnings per share of 91 cents. This figure missed the consensus projection by a penny. However, the company managed to beat bottom-line targets from Q2 onward. Its best print came in Q2, where EPS of $1.44 bested the consensus view of $1.31.

For fiscal 2024, experts believe that the utility specialist will generate EPS of $5.24. That would be a step up from last year’s print of $4.90. Also, revenue could reach $4.42 billion, up 4.5% from 2023’s result of $4.23 billion. Thus, it makes a solid case for best water stocks to buy in April.

Xylem (XYL)

xylem app
Source: IgorGolovniov /

Operating under the industrials label, Xylem (NYSE:XYL) belongs under the specialty industrial machinery subcategory. According to its corporate profile, Xylem engages in the design, manufacture, and servicing of engineered products and solutions worldwide. It operates through four segments: Water Infrastructure, Applied Water, Measurement & Control Solutions, and Integrated Solutions and Services.

Since the start of the year, XYL gained almost 13% of equity value. Over the past 52 weeks, it’s up nearly 23%. There could be more gains on the way given the underlying fundamental importance. Financially, the company has been a strong performance, beating its bottom-line targets throughout fiscal 2023. Its best performance came during Q1, when it posted EPS of 79 cents against an expected 62 cents.

For the current year, experts are pegging EPS to land at $4.12. That’s a sizable improvement over last year’s result of $3.78. On the top line, analysts see revenue of $8.49 billion. Again, that’s a big improvement over 2023’s haul of $15.4 billion. It’s one of the best water stocks to buy in April.

Primo Water (PRMW)

A photo of small bubbles in a container of water.
Source: khak/

Falling under the consumer defensive sector, Primo Water (NYSE:PRMW) bills itself as a pure-play water solutions provider for residential and commercial customers. Per its public profile, Primo offers multiple products and services, including bottled water, water dispensers, self-service refill service, flavored-essence water, and filtration units. It also offers coffee. Since the start of the year, PRMW stock gained almost 19% of its equity value.

Over the past 52 weeks, it’s up more than 21%. Therefore, it’s possible that Primo is on a recovery following an extended period of sideways trading. Still, it’s a tricky idea. In the first three quarters of 2023, the company handily beat its bottom-line targets. However, in Q4, the company only posted EPS of 12 cents against an expected target of 17 cents.

Nevertheless, experts believe that big things are in store for the current fiscal year. They see EPS of 88 cents, up big from last year’s print of 62 cents. Also, revenue could land at $1.86 billion, up from $1.77 billion last year. With the importance of water, PRMW could rank among the best water stocks to buy in April.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.

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