Connecticut Water Service Inc (NASDAQ:CTWS) announced a quarterly dividend on Monday, August 20th, Wall Street Journal reports. Stockholders of record on Tuesday, September 4th will be paid a dividend of 0.3125 per share by the utilities provider on Tuesday, September 18th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, August 31st.
Connecticut Water Service has increased its dividend by an average of 5.2% annually over the last three years and has raised its dividend every year for the last 48 years. Connecticut Water Service has a payout ratio of 61.3% meaning its dividend is sufficiently covered by earnings.
Shares of Connecticut Water Service stock traded down $0.01 on Monday, reaching $68.99. 53,604 shares of the company were exchanged, compared to its average volume of 70,228. The firm has a market capitalization of $834.05 million, a PE ratio of 47.43 and a beta of -0.12. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 0.88. Connecticut Water Service has a fifty-two week low of $48.86 and a fifty-two week high of $69.80.
Connecticut Water Service (NASDAQ:CTWS) last announced its earnings results on Thursday, August 9th. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.45). The company had revenue of $31.54 million for the quarter. Connecticut Water Service had a return on equity of 6.02% and a net margin of 13.02%.
Several research firms recently weighed in on CTWS. BidaskClub lowered Connecticut Water Service from a “hold” rating to a “sell” rating in a research report on Saturday, July 21st. ValuEngine raised Connecticut Water Service from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Connecticut Water Service has a consensus rating of “Hold” and an average price target of $55.00.
Connecticut Water Service Company Profile
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.
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