California Water Service Group (NYSE:CWT) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• California Water Service Group shares moved above their 200-day moving average, trading as high as $45.59 and last changing hands around $45.26. The move came on volume of 434,531 shares.
• Analyst sentiment is mixed but still leans positive overall: Weiss Ratings upgraded the stock slightly, Robert W. Baird set a $54 price target, and Wall Street Zen downgraded it to sell. MarketBeat says the consensus rating is Moderate Buy with an average target of $54.50.
• The company recently reported weak quarterly earnings, posting $0.07 EPS versus the $0.25 estimate, even though revenue rose 5.2% year over year. California Water Service Group also paid a quarterly dividend of $0.335 per share, yielding about 3.0%.

California Water Service Group (NYSE:CWT - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $44.68 and traded as high as $45.59. California Water Service Group shares last traded at $45.2640, with a volume of 434,531 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have commented on CWT. Weiss Ratings upgraded shares of California Water Service Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, June 12th. Robert W. Baird set a $54.00 price objective on California Water Service Group in a research note on Friday, May 1st. Finally, Wall Street Zen cut California Water Service Group from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $54.50.

California Water Service Group Trading Up 0.1%

The company has a 50-day simple moving average of $44.73 and a 200-day simple moving average of $44.68. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.65 and a current ratio of 0.69. The stock has a market cap of $2.71 billion, a P/E ratio of 22.63, a P/E/G ratio of 1.66 and a beta of 0.53.

California Water Service Group (NYSE:CWT - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The utilities provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.18). California Water Service Group had a return on equity of 7.06% and a net margin of 11.77%.The business had revenue of $214.57 million during the quarter, compared to analyst estimates of $210.27 million. During the same period in the prior year, the firm posted $0.22 EPS. California Water Service Group's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that California Water Service Group will post 2.56 EPS for the current fiscal year.

California Water Service Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Monday, May 11th were given a dividend of $0.335 per share. The ex-dividend date was Monday, May 11th. This represents a $1.34 annualized dividend and a yield of 3.0%. California Water Service Group's dividend payout ratio is 67.00%.

Insider Transactions at California Water Service Group

In other California Water Service Group news, Director Lester A. Snow sold 1,100 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $44.00, for a total value of $48,400.00. Following the completion of the sale, the director owned 18,316 shares in the company, valued at approximately $805,904. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas M. Krummel sold 3,700 shares of California Water Service Group stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $43.30, for a total value of $160,210.00. Following the completion of the sale, the director directly owned 23,805 shares of the company's stock, valued at $1,030,756.50. This trade represents a 13.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On California Water Service Group

Large investors have recently bought and sold shares of the business. Danske Bank A S acquired a new stake in shares of California Water Service Group during the third quarter worth $28,000. EverSource Wealth Advisors LLC boosted its stake in California Water Service Group by 109.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the utilities provider's stock worth $32,000 after acquiring an additional 365 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of California Water Service Group by 67.9% during the first quarter. Bessemer Group Inc. now owns 744 shares of the utilities provider's stock worth $34,000 after purchasing an additional 301 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in California Water Service Group during the third quarter worth about $43,000. Finally, Advisory Services Network LLC acquired a new position in California Water Service Group in the third quarter valued at about $44,000. 82.78% of the stock is currently owned by institutional investors and hedge funds.

About California Water Service Group

California Water Service Group NYSE: CWT is a publicly traded holding company that provides regulated water utility services through its subsidiaries. The company delivers safe, reliable drinking water and wastewater management to residential, commercial, industrial and municipal customers across California, Hawaii and New Mexico. Its principal operating units include California Water Service, New Mexico Water Service and Hawaii Water Service, each responsible for end‐to‐end water supply operations—from source development and treatment to distribution and customer service.

Founded in 1926 as the California Water Service Company, the group has grown to become one of the largest investor‐owned water utilities in the United States by customer count.

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