California Water Service Group (NYSE:CWT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of California Water Service Group (NYSE:CWT) have earned a consensus rating of “Moderate Buy” from the four ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $53.25.

A number of research analysts have commented on the stock. Bank of America assumed coverage on shares of California Water Service Group in a report on Wednesday, December 11th. They issued a “buy” rating and a $57.00 price target for the company. StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised California Water Service Group from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $56.00 to $52.00 in a research report on Tuesday, January 7th.

Insider Transactions at California Water Service Group

In other news, VP Michael B. Luu sold 985 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $51.50, for a total value of $50,727.50. Following the completion of the sale, the vice president now owns 20,354 shares of the company’s stock, valued at $1,048,231. This trade represents a 4.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On California Water Service Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC increased its holdings in shares of California Water Service Group by 20.2% during the second quarter. Commonwealth Equity Services LLC now owns 13,842 shares of the utilities provider’s stock valued at $671,000 after acquiring an additional 2,327 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of California Water Service Group by 9.0% in the second quarter. Van ECK Associates Corp now owns 14,827 shares of the utilities provider’s stock worth $719,000 after buying an additional 1,224 shares during the last quarter. Natixis Advisors LLC purchased a new position in shares of California Water Service Group in the second quarter worth $506,000. Arizona State Retirement System lifted its stake in shares of California Water Service Group by 1.8% during the second quarter. Arizona State Retirement System now owns 16,147 shares of the utilities provider’s stock worth $783,000 after buying an additional 287 shares during the period. Finally, Quest Partners LLC grew its holdings in shares of California Water Service Group by 21,048.1% during the second quarter. Quest Partners LLC now owns 5,710 shares of the utilities provider’s stock valued at $277,000 after buying an additional 5,683 shares during the last quarter. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

California Water Service Group Stock Performance

Shares of California Water Service Group stock opened at $41.88 on Friday. 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 stock’s fifty day moving average is $48.36 and its two-hundred day moving average is $51.19. California Water Service Group has a 52 week low of $41.82 and a 52 week high of $56.25. The company has a market capitalization of $2.49 billion, a PE ratio of 12.10 and a beta of 0.52.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.02). The firm had revenue of $299.60 million during the quarter, compared to analysts’ expectations of $289.55 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. As a group, analysts expect that California Water Service Group will post 3.29 earnings per share for the current year.

California Water Service Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th were paid a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 2.67%. California Water Service Group’s dividend payout ratio (DPR) is 32.37%.

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.