California Water Service Group (NYSE:CWT) Given Consensus Rating of "Buy" by Brokerages

California Water Service Group (NYSE:CWT - Get Free Report) has been given a consensus recommendation of "Buy" by the three brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $58.00.

A number of research analysts recently issued reports on CWT shares. StockNews.com upgraded shares of California Water Service Group from a "sell" rating to a "hold" rating in a report on Friday, April 11th. Wells Fargo & Company upped their price objective on shares of California Water Service Group from $54.00 to $59.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Finally, Seaport Res Ptn upgraded California Water Service Group from a "hold" rating to a "strong-buy" rating in a report on Friday, April 11th.

Institutional Investors Weigh In On California Water Service Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc increased its holdings in 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 worth $33,000 after purchasing an additional 601 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of California Water Service Group during the first quarter worth about $34,000. Parkworth Wealth Management Inc. bought a new position in shares of California Water Service Group during the fourth quarter worth about $50,000. Sterling Capital Management LLC raised its position in California Water Service Group by 785.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider's stock valued at $65,000 after buying an additional 1,273 shares during the last quarter. Finally, Mather Group LLC. bought a new stake in California Water Service Group in the 1st quarter valued at approximately $74,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.

California Water Service Group Trading Up 0.1 %

Shares of NYSE:CWT traded up $0.03 during midday trading on Tuesday, hitting $48.56. The company had a trading volume of 216,406 shares, compared to its average volume of 333,898. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $56.25. The firm has a fifty day simple moving average of $48.48 and a 200 day simple moving average of $47.69. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.46 and a beta of 0.70.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. The firm had revenue of $203.97 million for the quarter, compared to analysts' expectations of $194.80 million. California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The company's revenue was down 24.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.21 earnings per share. On average, analysts predict that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 12th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Monday, May 12th. California Water Service Group's dividend payout ratio (DPR) is presently 52.63%.

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.