California Water Service Group (NYSE:CWT) Raised to "Strong-Buy" at Seaport Res Ptn

California Water Service Group (NYSE:CWT - Get Free Report) was upgraded by stock analysts at Seaport Res Ptn from a "hold" rating to a "strong-buy" rating in a report released on Friday,Zacks.com reports. Seaport Res Ptn also issued estimates for California Water Service Group's FY2027 earnings at $2.78 EPS and FY2028 earnings at $3.05 EPS.

Other analysts have also issued reports about the stock. StockNews.com raised shares of California Water Service Group from a "sell" rating to a "hold" rating in a research note on Friday. Wells Fargo & Company raised shares of California Water Service Group from an "equal weight" rating to an "overweight" rating and lowered their price target for the stock from $56.00 to $52.00 in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, California Water Service Group presently has a consensus rating of "Buy" and an average price target of $54.67.

California Water Service Group Trading Down 0.4 %

CWT stock traded down $0.20 during mid-day trading on Friday, reaching $50.81. The company had a trading volume of 328,883 shares, compared to its average volume of 340,654. The firm has a 50 day moving average of $46.88 and a 200 day moving average of $48.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $56.25. The company has a market capitalization of $3.02 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 0.46 and a beta of 0.56.

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

Institutional Trading of California Water Service Group

Several hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in shares of California Water Service Group during the 4th quarter worth approximately $37,998,000. Vanguard Group Inc. grew its holdings in California Water Service Group by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 7,514,709 shares of the utilities provider's stock worth $340,642,000 after purchasing an additional 158,295 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of California Water Service Group by 91.0% during the 4th quarter. JPMorgan Chase & Co. now owns 308,704 shares of the utilities provider's stock valued at $13,994,000 after purchasing an additional 147,043 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of California Water Service Group by 13.1% during the 4th quarter. Northern Trust Corp now owns 979,138 shares of the utilities provider's stock valued at $44,384,000 after purchasing an additional 113,622 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of California Water Service Group by 21.2% in the 4th quarter. Bank of New York Mellon Corp now owns 634,179 shares of the utilities provider's stock worth $28,747,000 after purchasing an additional 110,962 shares in the last quarter. 82.78% of the stock is owned by hedge funds and other institutional investors.

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.