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

California Water Service Group (NYSE:CWT - Get Free Report) has been assigned an average rating of "Buy" from the three research firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $58.00.

A number of analysts have issued reports on CWT shares. Wells Fargo & Company boosted 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. Seaport Res Ptn raised California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th. Finally, Wall Street Zen cut California Water Service Group from a "hold" rating to a "sell" rating in a report on Saturday.

Insider Buying and Selling at California Water Service Group

In related news, Director Lester A. Snow sold 1,200 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $46.51, for a total value of $55,812.00. Following the sale, the director now directly owns 26,349 shares in the company, valued at $1,225,491.99. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.73% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of California Water Service Group by 2.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,806 shares of the utilities provider's stock valued at $524,000 after purchasing an additional 272 shares during the period. Choreo LLC boosted its holdings in shares of California Water Service Group by 6.6% during the 1st quarter. Choreo LLC now owns 4,766 shares of the utilities provider's stock worth $231,000 after buying an additional 294 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of California Water Service Group by 3.6% during the 4th quarter. Corient Private Wealth LLC now owns 9,420 shares of the utilities provider's stock worth $427,000 after buying an additional 327 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in California Water Service Group by 1.0% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 38,438 shares of the utilities provider's stock valued at $1,863,000 after buying an additional 373 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of California Water Service Group by 3.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,228 shares of the utilities provider's stock valued at $554,000 after acquiring an additional 382 shares in the last quarter. Institutional investors and hedge funds own 82.78% of the company's stock.

California Water Service Group Stock Performance

Shares of NYSE CWT opened at $46.63 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.49 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $2.78 billion, a P/E ratio of 20.45, a P/E/G ratio of 2.34 and a beta of 0.66. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $56.25. The stock has a 50 day moving average of $47.81 and a 200-day moving average of $46.68.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. California Water Service Group had a net margin of 13.84% and a return on equity of 8.32%. The firm had revenue of $203.97 million during the quarter, compared to analysts' expectations of $194.80 million. During the same period in the previous year, the business posted $1.21 earnings per share. The company's revenue for the quarter was down 24.7% compared to the same quarter last year. As a group, equities research analysts predict that California Water Service Group will post 3.15 EPS for the current year.

California Water Service Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 12th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Monday, May 12th. California Water Service Group's dividend payout ratio is 52.63%.

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.

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