California Water Service Group (NYSE:CWT) Receives $54.67 Average PT from Brokerages

Shares of California Water Service Group (NYSE:CWT - Get Free Report) have received an average recommendation of "Buy" from the four ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $54.67.

CWT has been the subject of a number of research analyst reports. StockNews.com upgraded California Water Service Group from a "sell" rating to a "hold" rating in a research note on Friday. Seaport Res Ptn upgraded shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a research note on Friday. Finally, Wells Fargo & Company raised shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $56.00 to $52.00 in a report on Tuesday, January 7th.

Hedge Funds Weigh In On California Water Service Group

A number of hedge funds have recently bought and sold shares of CWT. Versant Capital Management Inc lifted its position in shares of California Water Service Group by 751.3% during the 1st quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider's stock valued at $33,000 after buying an additional 601 shares in the last quarter. Parkworth Wealth Management Inc. purchased a new stake in shares of California Water Service Group during the fourth quarter worth about $50,000. Sterling Capital Management LLC raised its position in shares of California Water Service Group by 785.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider's stock worth $65,000 after purchasing an additional 1,273 shares during the last quarter. Putney Financial Group LLC purchased a new position in California Water Service Group in the 4th quarter valued at about $78,000. Finally, Federated Hermes Inc. boosted its holdings in California Water Service Group by 27.6% in the 4th quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider's stock worth $89,000 after buying an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 82.78% of the company's stock.

Remove Ads

California Water Service Group Stock Down 0.4 %

Shares of CWT stock traded down $0.20 during trading hours on Friday, reaching $50.81. 328,883 shares of the company's stock were exchanged, compared to its average volume of 340,815. California Water Service Group has a fifty-two week low of $41.64 and a fifty-two week high of $56.25. The stock's 50 day moving average is $46.75 and its 200-day moving average is $48.02. 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 company has a market cap of $3.02 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 0.46 and a beta of 0.56.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.05). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The business had revenue of $222.20 million during the quarter, compared to analysts' expectations of $216.37 million. During the same quarter last year, the business posted $0.52 earnings per share. Analysts predict that California Water Service Group will post 3.15 earnings per share for the current fiscal year.

California Water Service Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were paid a dividend of $0.30 per share. This is a positive change from California Water Service Group's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, February 10th. California Water Service Group's dividend payout ratio is presently 36.70%.

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.