California Water Service Group (NYSE:CWT) Price Target Raised to $55.00

California Water Service Group (NYSE:CWT) had its target price lifted by Robert W. Baird from $52.00 to $55.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

A number of other equities analysts also recently weighed in on the stock. UBS Group raised shares of California Water Service Group from a sell rating to a neutral rating and set a $49.00 target price for the company in a research note on Thursday, April 4th. TheStreet lowered California Water Service Group from a b- rating to a c+ rating in a report on Wednesday, February 14th. Finally, StockNews.com upgraded shares of California Water Service Group to a sell rating in a research note on Saturday, March 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $54.25.

California Water Service Group Trading Down 0.2 %

NYSE CWT opened at $47.93 on Friday. The firm has a market capitalization of $2.76 billion, a PE ratio of 19.17 and a beta of 0.49. The stock’s 50 day moving average is $46.11 and its 200 day moving average is $48.31. California Water Service Group has a twelve month low of $43.50 and a twelve month high of $58.30. The company has a quick ratio of 0.65, a current ratio of 0.56 and a debt-to-equity ratio of 0.72.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, April 25th. The utilities provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $1.00. The firm had revenue of $270.75 million for the quarter, compared to analysts’ expectations of $183.85 million. California Water Service Group had a net margin of 15.42% and a return on equity of 10.09%. The company’s quarterly revenue was up 106.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.40) EPS. Research analysts forecast that California Water Service Group will post 2.59 earnings per share for the current fiscal year.

California Water Service Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Monday, May 6th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.34%. California Water Service Group’s dividend payout ratio (DPR) is presently 44.80%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its position in shares of California Water Service Group by 42.2% in the fourth quarter. AdvisorNet Financial Inc now owns 741 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 220 shares in the last quarter. Signaturefd LLC raised its position in shares of California Water Service Group by 64.4% during the third quarter. Signaturefd LLC now owns 1,065 shares of the utilities provider’s stock valued at $50,000 after buying an additional 417 shares during the last quarter. TFO Wealth Partners LLC lifted its holdings in shares of California Water Service Group by 57,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,142 shares of the utilities provider’s stock worth $59,000 after buying an additional 1,140 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of California Water Service Group by 47.3% during the first quarter. Global Retirement Partners LLC now owns 2,910 shares of the utilities provider’s stock worth $135,000 after acquiring an additional 935 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in California Water Service Group by 93.3% during the fourth quarter. Quadrant Capital Group LLC now owns 3,748 shares of the utilities provider’s stock valued at $194,000 after acquiring an additional 1,809 shares in the last quarter. Institutional investors own 82.78% of the company’s stock.

About California Water Service Group

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.