California Water Service Group (NYSE:CWT) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of California Water Service Group (NYSE:CWT – Get Rating) in a report issued on Thursday. The firm set a “hold” rating on the utilities provider’s stock.

Other equities research analysts also recently issued reports about the stock. UBS Group began coverage on shares of California Water Service Group in a report on Wednesday, November 30th. They set a “neutral” rating and a $67.00 price target for the company. Wells Fargo & Company lifted their price target on shares of California Water Service Group to $63.00 in a report on Wednesday, December 14th.

California Water Service Group Stock Performance

NYSE:CWT opened at $56.73 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.96 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $60.05 and a two-hundred day moving average price of $59.72. California Water Service Group has a twelve month low of $48.46 and a twelve month high of $66.12. The company has a market capitalization of $3.15 billion, a P/E ratio of 32.23 and a beta of 0.48.

California Water Service Group (NYSE:CWT – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The utilities provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.13. The business had revenue of $200.94 million during the quarter, compared to the consensus estimate of $180.14 million. California Water Service Group had a net margin of 11.34% and a return on equity of 7.72%. During the same period in the previous year, the firm posted $0.07 earnings per share. As a group, research analysts expect that California Water Service Group will post 1.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On California Water Service Group

Hedge funds have recently modified their holdings of the stock. Wipfli Financial Advisors LLC acquired a new stake in shares of California Water Service Group in the third quarter worth approximately $27,000. Ruedi Wealth Management Inc. acquired a new position in California Water Service Group during the fourth quarter valued at approximately $27,000. Belpointe Asset Management LLC acquired a new position in California Water Service Group during the fourth quarter valued at approximately $28,000. Grey Fox Wealth Advisors LLC acquired a new position in California Water Service Group during the fourth quarter valued at approximately $31,000. Finally, FinTrust Capital Advisors LLC acquired a new position in California Water Service Group during the fourth quarter valued at approximately $46,000. 79.01% of the stock is owned by institutional investors and hedge funds.

About California Water Service Group

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California Water Service Group is a holding company, which engages in provision of water utility and other related services in California, Washington, New Mexico, and Hawaii through its wholly-owned subsidiaries. The firm is involved in the production, purchase, storage, treatment, testing, distribution and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection.