California Water Service Group (NYSE:CWT) Receives $53.67 Average Price Target from Brokerages

Shares of California Water Service Group (NYSE:CWT) have been given a consensus rating of “Moderate Buy” by the four analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $54.50.

Several equities research analysts recently weighed in on CWT shares. StockNews.com downgraded shares of California Water Service Group from a “hold” rating to a “sell” rating in a research report on Friday, December 13th. Bank of America began coverage on California Water Service Group in a report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 target price for the company.

California Water Service Group Trading Down 0.9 %

NYSE CWT opened at $47.93 on Wednesday. The stock’s fifty day moving average price is $51.06 and its 200-day moving average price is $51.63. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. The stock has a market cap of $2.85 billion, a P/E ratio of 13.85 and a beta of 0.50. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $56.25.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.05 by ($0.02). The firm had revenue of $299.60 million for the quarter, compared to analysts’ expectations of $289.55 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. As a group, equities analysts forecast that California Water Service Group will post 3.29 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.34%. The ex-dividend date was Tuesday, November 12th. California Water Service Group’s dividend payout ratio is currently 32.37%.

Insiders Place Their Bets

In other California Water Service Group news, VP Michael B. Luu sold 985 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $51.50, for a total value of $50,727.50. Following the transaction, the vice president now owns 20,354 shares of the company’s stock, valued at approximately $1,048,231. This represents a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On California Water Service Group

Large investors have recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of California Water Service Group by 255.6% in the third quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock worth $27,000 after buying an additional 363 shares during the last quarter. GAMMA Investing LLC raised its position in California Water Service Group by 50.2% in the third quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 413 shares during the period. CWM LLC boosted its stake in shares of California Water Service Group by 90.8% during the 2nd quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock worth $65,000 after acquiring an additional 642 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of California Water Service Group during the 2nd quarter valued at $85,000. Finally, nVerses Capital LLC bought a new stake in shares of California Water Service Group during the 3rd quarter valued at $119,000. 82.78% of the stock is currently owned by institutional investors.

California Water Service Group Company Profile

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.