California Water Service Group (NYSE:CWT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of California Water Service Group (NYSE:CWT) have been assigned a consensus rating of “Moderate Buy” from the four brokerages that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $54.50.

Several brokerages have recently issued reports on CWT. StockNews.com lowered California Water Service Group from a “hold” rating to a “sell” rating in a research report on Friday, December 13th. Bank of America initiated coverage on California Water Service Group in a research note on Wednesday, December 11th. They issued a “buy” rating and a $57.00 price target on the stock.

Insider Buying and Selling

In related news, VP Michael B. Luu sold 985 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were 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 in the company, valued at $1,048,231. The trade was a 4.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.73% of the stock is currently owned by company insiders.

Institutional Trading of California Water Service Group

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of California Water Service Group by 55.7% during the third quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider’s stock valued at $8,765,000 after buying an additional 57,811 shares during the last quarter. Franklin Resources Inc. boosted its stake in California Water Service Group by 117.0% during the 3rd quarter. Franklin Resources Inc. now owns 58,258 shares of the utilities provider’s stock valued at $3,100,000 after purchasing an additional 31,412 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of California Water Service Group by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider’s stock worth $72,559,000 after purchasing an additional 24,275 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of California Water Service Group by 52.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 63,554 shares of the utilities provider’s stock worth $3,446,000 after purchasing an additional 21,791 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of California Water Service Group by 135.8% during the third quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock valued at $6,486,000 after purchasing an additional 68,914 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors.

California Water Service Group Stock Up 0.0 %

Shares of California Water Service Group stock opened at $44.78 on Friday. The company’s fifty day simple moving average is $49.16 and its two-hundred day simple moving average is $51.36. California Water Service Group has a 12-month low of $43.50 and a 12-month high of $56.25. 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 $2.66 billion, a P/E ratio of 12.94 and a beta of 0.52.

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

California Water Service Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were given a $0.28 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.50%. California Water Service Group’s dividend payout ratio is currently 32.37%.

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.