California Water Service Group (NYSE:CWT) announced a quarterly dividend on Wednesday, October 31st, RTT News reports. Stockholders of record on Monday, November 12th will be given a dividend of 0.1875 per share by the utilities provider on Friday, November 23rd. This represents a $0.75 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, November 8th.
California Water Service Group has raised its dividend by an average of 3.5% per year over the last three years and has increased its dividend every year for the last 50 years. California Water Service Group has a dividend payout ratio of 60.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect California Water Service Group to earn $1.41 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 53.2%.
CWT opened at $43.89 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 1.00. California Water Service Group has a 1-year low of $35.25 and a 1-year high of $46.15. The stock has a market capitalization of $2.02 billion, a PE ratio of 31.35, a P/E/G ratio of 4.94 and a beta of 0.50.
California Water Service Group (NYSE:CWT) last announced its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.72. California Water Service Group had a net margin of 8.54% and a return on equity of 8.44%. The business had revenue of $219.00 million during the quarter, compared to the consensus estimate of $249.64 million. During the same quarter in the prior year, the firm earned $0.70 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, equities analysts expect that California Water Service Group will post 1.22 EPS for the current year.
In related news, VP David B. Healey sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $41.76, for a total transaction of $41,760.00. Following the completion of the sale, the vice president now owns 14,492 shares of the company’s stock, valued at approximately $605,185.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by corporate insiders.
CWT has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of California Water Service Group from a “hold” rating to a “sell” rating in a research report on Monday, July 30th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $44.00 price objective on shares of California Water Service Group in a research report on Monday, August 27th. Finally, Evercore ISI initiated coverage on shares of California Water Service Group in a research report on Monday, September 17th. They set an “in-line” rating and a $42.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $39.67.
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California Water Service Group Company Profile
California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It 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.
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