California Water Service Group (NYSE:CWT) Upgraded at Freedom Broker

Freedom Broker upgraded shares of California Water Service Group (NYSE:CWT) from a hold rating to a buy rating in a research report released on Thursday,Benzinga reports. Freedom Broker currently has $53.00 price objective on the utilities provider’s stock, up from their prior price objective of $49.00.

Several other equities analysts have also recently weighed in on the stock. Seaport Research Partners reiterated a “buy” rating and issued a $53.00 price objective on shares of California Water Service Group in a research note on Wednesday, August 12th. Weiss Ratings upgraded shares of California Water Service Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

California Water Service Group Stock Up 2.0%

California Water Service Group stock opened at $48.59 on Thursday. California Water Service Group has a 12 month low of $41.29 and a 12 month high of $53.82. The stock has a fifty day simple moving average of $47.58 and a two-hundred day simple moving average of $46.66. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.77. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 1.72 and a beta of 0.48.

California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.11). California Water Service Group had a return on equity of 7.75% and a net margin of 12.78%. The business had revenue of $332.17 million during the quarter, compared to the consensus estimate of $332.17 million. During the same quarter in the previous year, the business posted $1.03 earnings per share. California Water Service Group’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities analysts predict that California Water Service Group will post 2.57 EPS for the current fiscal year.

California Water Service Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Monday, November 9th will be paid a $0.3350 dividend. The ex-dividend date of this dividend is Monday, November 9th. This represents a $1.34 dividend on an annualized basis and a yield of 2.8%. California Water Service Group’s payout ratio is presently 59.82%.

Insider Activity at California Water Service Group

In related news, Director Thomas M. Krummel sold 3,700 shares of California Water Service Group stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $50.37, for a total value of $186,369.00. Following the completion of the transaction, the director owned 20,104 shares in the company, valued at approximately $1,012,638.48. This trade represents a 15.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lester A. Snow sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $50.21, for a total value of $25,105.00. Following the sale, the director directly owned 17,817 shares in the company, valued at $894,591.57. The trade was a 2.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.78% of the stock is owned by corporate insiders.

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 stock. BlackRock Inc. purchased a new stake in shares of California Water Service Group in the second quarter valued at about $523,255,000. Nuance Investments LLC purchased a new position in shares of California Water Service Group during the 2nd quarter worth approximately $53,324,000. Legal & General Group Plc purchased a new position in shares of California Water Service Group during the 2nd quarter worth approximately $39,285,000. Amundi raised its position in shares of California Water Service Group by 26.7% during the 1st quarter. Amundi now owns 3,470,997 shares of the utilities provider’s stock worth $157,421,000 after purchasing an additional 732,004 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in California Water Service Group in the 2nd quarter valued at approximately $25,642,000. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about California Water Service Group

Here are the key news stories impacting California Water Service Group this week:

• Positive Sentiment: Rate-base growth outlook supports future earnings: Management outlined nearly 12% annual rate-base growth through 2028, reaching approximately $3.5 billion, while targeting a share of a $49 million rate increase. This could improve the utility’s long-term revenue and earnings growth. California Water rate-base outlook
• Positive Sentiment: Analyst upgrade provides a near-term catalyst: Freedom Broker raised CWT from “hold” to “buy” and increased its price target from $49 to $53, implying additional upside from the referenced trading level. Freedom Broker rating update
• Positive Sentiment: Revenue increased 6.7% year over year to $332.2 million, matching expectations, helped by rate increases and customer growth. California Water third-quarter revenue report
• Positive Sentiment: Dividend continuity reinforces the defensive appeal: CWT declared its 327th consecutive quarterly dividend of $0.335 per share, payable November 20, 2026. California Water dividend announcement
• Negative Sentiment: Quarterly profit missed estimates: Adjusted earnings were $1.05 per share, below the $1.16 consensus estimate, as higher taxes and operating costs offset revenue growth and rate benefits. The miss may limit near-term upside until investors see better cost control. California Water third-quarter earnings miss

California Water Service Group Company Profile

California Water Service Group (NYSE:CWT) is a holding company that provides water utility services through its regulated operating subsidiaries. The company supplies clean water for residential, commercial, industrial and institutional customers, and its operations include the production, treatment, storage, distribution and delivery of water. Some of its subsidiaries also provide wastewater collection and treatment services.

The company’s principal subsidiary, California Water Service Company, serves communities throughout California.