ValuEngine Upgrades Connecticut Water Service (CTWS) to Buy

ValuEngine upgraded shares of Connecticut Water Service (NASDAQ:CTWS) from a hold rating to a buy rating in a research report report published on Monday.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Connecticut Water Service from a strong sell rating to a hold rating in a research note on Tuesday, February 6th. BidaskClub raised shares of Connecticut Water Service from a sell rating to a hold rating in a research note on Friday, March 23rd. Finally, UBS initiated coverage on shares of Connecticut Water Service in a research note on Thursday, March 8th. They issued a neutral rating and a $53.00 target price on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $57.67.

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NASDAQ CTWS traded up $0.17 on Monday, reaching $62.86. The company’s stock had a trading volume of 13,684 shares, compared to its average volume of 73,219. The stock has a market cap of $725.08, a P/E ratio of 27.05 and a beta of -0.05. Connecticut Water Service has a 52 week low of $48.86 and a 52 week high of $65.04. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 0.86.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were paid a $0.2975 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $1.19 dividend on an annualized basis and a yield of 1.89%. Connecticut Water Service’s payout ratio is currently 52.65%.

A number of hedge funds and other institutional investors have recently bought and sold shares of CTWS. California Public Employees Retirement System bought a new stake in Connecticut Water Service in the fourth quarter valued at about $206,000. Citadel Advisors LLC bought a new stake in Connecticut Water Service during the third quarter worth about $207,000. Moors & Cabot Inc. bought a new stake in Connecticut Water Service during the third quarter worth about $210,000. Teacher Retirement System of Texas bought a new stake in Connecticut Water Service during the fourth quarter worth about $227,000. Finally, MetLife Investment Advisors LLC bought a new stake in Connecticut Water Service during the fourth quarter worth about $280,000. 47.76% of the stock is currently owned by institutional investors and hedge funds.

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About Connecticut Water Service

Connecticut Water Service, Inc, together with its subsidiaries, operates as a regulated water company. The company operates through three segments: Water Operations, Real Estate Transactions, and Services and Rentals. The Water Operations segment supplies public drinking water. The Real Estate Transactions segment is involved in the sale or donation of its real estate holdings.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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