California Water Service Group (CWT) Receives $31.00 Consensus Target Price from Brokerages

California Water Service Group (CWT) Receives $31.00 Consensus Target Price from Brokerages

California Water Service Group (NYSE:CWT) has earned a consensus rating of “Hold” from the seven research firms that are covering the company. Three research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $31.00.

CWT has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Tuesday, January 10th. Macquarie initiated coverage on shares of California Water Service Group in a report on Wednesday, January 18th. They issued a “neutral” rating and a $32.00 target price for the company. Gabelli upgraded shares of California Water Service Group from a “hold” rating to a “buy” rating in a report on Thursday, February 16th. Finally, Wells Fargo & Co downgraded shares of California Water Service Group from a “market perform” rating to an “underperform” rating in a report on Friday, February 24th. They noted that the move was a valuation call.

In other California Water Service Group news, VP Michael B. Luu sold 2,400 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $34.47, for a total value of $82,728.00. Following the completion of the transaction, the vice president now directly owns 8,532 shares in the company, valued at $294,098.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David B. Healey sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $35.70, for a total transaction of $35,700.00. Following the completion of the transaction, the vice president now owns 14,780 shares of the company’s stock, valued at $527,646. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. US Bancorp DE increased its position in shares of California Water Service Group by 13.4% in the third quarter. US Bancorp DE now owns 6,359 shares of the utilities provider’s stock worth $204,000 after buying an additional 753 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of California Water Service Group by 8.3% in the third quarter. JPMorgan Chase & Co. now owns 289,858 shares of the utilities provider’s stock worth $9,302,000 after buying an additional 22,258 shares in the last quarter. BlackRock Advisors LLC increased its position in shares of California Water Service Group by 10.3% in the third quarter. BlackRock Advisors LLC now owns 24,933 shares of the utilities provider’s stock worth $800,000 after buying an additional 2,320 shares in the last quarter. BlackRock Investment Management LLC increased its position in shares of California Water Service Group by 0.9% in the third quarter. BlackRock Investment Management LLC now owns 208,441 shares of the utilities provider’s stock worth $6,689,000 after buying an additional 1,888 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of California Water Service Group by 5.5% in the third quarter. BlackRock Inc. now owns 61,871 shares of the utilities provider’s stock worth $1,986,000 after buying an additional 3,251 shares in the last quarter. Institutional investors and hedge funds own 68.63% of the company’s stock.

Shares of California Water Service Group (NYSE:CWT) traded up 1.01% on Wednesday, hitting $34.90. 159,819 shares of the company traded hands. The firm has a market capitalization of $1.67 billion, a P/E ratio of 33.27 and a beta of 0.65. California Water Service Group has a 1-year low of $27.05 and a 1-year high of $39.40. The firm’s 50-day moving average is $35.87 and its 200 day moving average is $34.47.

California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, April 27th. The utilities provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by $0.03. The firm earned $122.04 million during the quarter, compared to the consensus estimate of $128.30 million. California Water Service Group had a net margin of 7.05% and a return on equity of 6.56%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. On average, analysts anticipate that California Water Service Group will post $1.30 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 19th. Shareholders of record on Monday, May 8th will be issued a $0.18 dividend. The ex-dividend date is Thursday, May 4th. This represents a $0.72 dividend on an annualized basis and a yield of 2.06%. California Water Service Group’s dividend payout ratio is presently 81.82%.

About California Water Service Group

California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.

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