California Water Service Group (NYSE:CWT) Receives Average Rating of “Hold” from Brokerages

Shares of California Water Service Group (NYSE:CWTGet Free Report) have received a consensus recommendation of “Hold” from the four analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $55.00.

CWT has been the topic of several recent research reports. TheStreet lowered shares of California Water Service Group from a “b-” rating to a “c+” rating in a report on Wednesday, February 14th. StockNews.com upgraded shares of California Water Service Group to a “sell” rating in a report on Saturday, March 9th. Finally, Robert W. Baird cut their price objective on shares of California Water Service Group from $56.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, March 1st.

View Our Latest Stock Report on CWT

Institutional Investors Weigh In On California Water Service Group

Institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in California Water Service Group by 27.0% during the 2nd quarter. State Street Corp now owns 5,369,713 shares of the utilities provider’s stock valued at $298,288,000 after purchasing an additional 1,140,204 shares during the last quarter. Norges Bank acquired a new stake in California Water Service Group in the 4th quarter valued at about $28,614,000. Nuance Investments LLC increased its position in California Water Service Group by 28.3% in the 3rd quarter. Nuance Investments LLC now owns 2,175,780 shares of the utilities provider’s stock valued at $102,936,000 after acquiring an additional 479,457 shares in the last quarter. Marshall Wace LLP increased its position in California Water Service Group by 2,396.0% in the 2nd quarter. Marshall Wace LLP now owns 459,146 shares of the utilities provider’s stock valued at $23,706,000 after acquiring an additional 440,751 shares in the last quarter. Finally, Amundi grew its position in shares of California Water Service Group by 34.6% during the 4th quarter. Amundi now owns 1,135,700 shares of the utilities provider’s stock worth $69,439,000 after buying an additional 292,111 shares during the period. Institutional investors and hedge funds own 82.78% of the company’s stock.

California Water Service Group Stock Down 1.1 %

Shares of NYSE CWT opened at $46.02 on Wednesday. California Water Service Group has a 52-week low of $44.83 and a 52-week high of $61.59. The firm has a fifty day moving average of $46.26 and a 200-day moving average of $48.58. The stock has a market capitalization of $2.65 billion, a PE ratio of 51.71 and a beta of 0.49. The company has a quick ratio of 0.65, a current ratio of 0.69 and a debt-to-equity ratio of 0.74.

California Water Service Group (NYSE:CWTGet Free Report) last posted its earnings results on Thursday, February 29th. The utilities provider reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.98). The business had revenue of $214.50 million for the quarter, compared to analyst estimates of $269.41 million. California Water Service Group had a net margin of 6.53% and a return on equity of 3.75%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 EPS. On average, analysts anticipate that California Water Service Group will post 2.25 EPS for the current year.

California Water Service Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Monday, February 12th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 9.73%. The ex-dividend date was Friday, February 9th. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.26. California Water Service Group’s dividend payout ratio is 125.84%.

California Water Service Group Company Profile

(Get Free Report

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company 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 services.

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