Analysts Set California Water Service Group (NYSE:CWT) PT at $54.50

Shares of California Water Service Group (NYSE:CWT) have been assigned an average rating of “Moderate Buy” from the four research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $53.25.

A number of brokerages have issued reports on CWT. Wells Fargo & Company raised California Water Service Group from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $56.00 to $52.00 in a research report on Tuesday. StockNews.com downgraded shares of California Water Service Group from a “hold” rating to a “sell” rating in a report on Friday, December 13th. Finally, Bank of America started coverage on shares of California Water Service Group in a report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 target price on the stock.

California Water Service Group Stock Up 0.9 %

California Water Service Group stock opened at $44.35 on Friday. 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 1-year low of $43.50 and a 1-year high of $56.25. The firm’s fifty day simple moving average is $48.86 and its 200-day simple moving average is $51.33. The company has a market capitalization of $2.64 billion, a P/E ratio of 12.82 and a beta of 0.52.

California Water Service Group (NYSE:CWT) last posted its earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.05 by ($0.02). The company had revenue of $299.60 million for the quarter, compared to the consensus estimate of $289.55 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. California Water Service Group’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. Sell-side analysts forecast that California Water Service Group will post 3.29 earnings per share for the current fiscal year.

California Water Service Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th were paid a $0.28 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $1.12 annualized dividend and a dividend yield of 2.53%. California Water Service Group’s payout ratio is 32.37%.

Insider Buying and Selling at California Water Service Group

In other news, VP Michael B. Luu sold 985 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total transaction of $50,727.50. Following the sale, the vice president now directly owns 20,354 shares in the company, valued at approximately $1,048,231. The trade was a 4.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.73% of the company’s stock.

Institutional Trading of California Water Service Group

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in California Water Service Group by 255.6% in the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 363 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of California Water Service Group by 50.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,236 shares of the utilities provider’s stock valued at $67,000 after buying an additional 413 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of California Water Service Group during the second quarter worth $85,000. nVerses Capital LLC acquired a new position in shares of California Water Service Group during the third quarter valued at $119,000. Finally, CWM LLC boosted its holdings in California Water Service Group by 129.1% in the third quarter. CWM LLC now owns 3,090 shares of the utilities provider’s stock valued at $168,000 after acquiring an additional 1,741 shares during the last quarter. Institutional investors and hedge funds own 82.78% of the company’s stock.

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.