California Water Service Group (NYSE:CWT) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Stockholders of record on Monday, August 10th will be paid a dividend of 0.213 per share by the utilities provider on Friday, August 21st. This represents a $0.85 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, August 7th.
California Water Service Group has increased its dividend payment by an average of 14.5% per year over the last three years and has increased its dividend every year for the last 52 years. California Water Service Group has a payout ratio of 58.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect California Water Service Group to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.85 annual dividend with an expected future payout ratio of 49.7%.
Shares of California Water Service Group stock traded down $0.27 during trading on Friday, hitting $47.77. 1,816 shares of the stock traded hands, compared to its average volume of 208,473. The stock has a market cap of $2.41 billion and a P/E ratio of 45.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.51 and a current ratio of 0.53. California Water Service Group has a twelve month low of $39.74 and a twelve month high of $57.48. The company has a fifty day moving average price of $47.52 and a two-hundred day moving average price of $49.45.
Several equities research analysts recently weighed in on CWT shares. ValuEngine lowered California Water Service Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Boenning Scattergood lowered California Water Service Group from an “outperform” rating to a “neutral” rating in a report on Monday, July 13th. TheStreet lowered California Water Service Group from a “b-” rating to a “c” rating in a report on Thursday, May 14th. Wells Fargo & Co reduced their target price on California Water Service Group from $55.00 to $50.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Finally, Zacks Investment Research upgraded California Water Service Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 8th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $54.25.
About California Water Service Group
California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It 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.
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