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

Shares of California Water Service Group (NYSE:CWT - Get Free Report) have been given an average recommendation of "Buy" by the three analysts that are covering the firm, Marketbeat.com 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 price target among brokers that have issued a report on the stock in the last year is $58.00.

A number of analysts have recently weighed in on the company. Seaport Res Ptn upgraded California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Wells Fargo & Company increased 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 report on Friday, May 2nd. Finally, StockNews.com upgraded shares of California Water Service Group from a "sell" rating to a "hold" rating in a report on Friday, April 11th.

California Water Service Group Stock Up 0.1 %

Shares of CWT traded up $0.03 during trading on Tuesday, reaching $48.56. The company's stock had a trading volume of 216,406 shares, compared to its average volume of 334,453. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 14.03, a P/E/G ratio of 0.46 and a beta of 0.70. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $48.48 and a two-hundred day moving average of $47.65. California Water Service Group has a twelve month low of $41.64 and a twelve month high of $56.25.

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

California Water Service Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 12th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $1.20 dividend on an annualized basis and a yield of 2.47%. California Water Service Group's payout ratio is presently 52.63%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CWT. CenterBook Partners LP grew its holdings in shares of California Water Service Group by 19.3% during the 1st quarter. CenterBook Partners LP now owns 23,101 shares of the utilities provider's stock valued at $1,119,000 after acquiring an additional 3,743 shares in the last quarter. New Age Alpha Advisors LLC raised its stake in shares of California Water Service Group by 17.2% during the 1st quarter. New Age Alpha Advisors LLC now owns 114,885 shares of the utilities provider's stock worth $5,567,000 after purchasing an additional 16,851 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of California Water Service Group by 2.4% during the 1st quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 43,890 shares of the utilities provider's stock valued at $2,127,000 after buying an additional 1,015 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of California Water Service Group by 8.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,075 shares of the utilities provider's stock valued at $343,000 after buying an additional 577 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in California Water Service Group in the first quarter worth approximately $5,461,000. 82.78% of the stock is owned by hedge funds and other institutional investors.

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.