Shares of Connecticut Water Service Inc (NASDAQ:CTWS) have received a consensus recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $66.50.
Several analysts have issued reports on the company. BidaskClub lowered Connecticut Water Service from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 31st. Wells Fargo & Co assumed coverage on Connecticut Water Service in a research note on Thursday, January 10th. They issued a “market perform” rating and a $66.00 price objective on the stock.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Connecticut Water Service by 1.9% in the fourth quarter. BlackRock Inc. now owns 943,690 shares of the utilities provider’s stock valued at $63,106,000 after purchasing an additional 17,517 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Connecticut Water Service by 7.7% in the third quarter. Vanguard Group Inc. now owns 734,907 shares of the utilities provider’s stock valued at $50,981,000 after purchasing an additional 52,256 shares during the last quarter. Vanguard Group Inc grew its position in shares of Connecticut Water Service by 7.7% in the third quarter. Vanguard Group Inc now owns 734,907 shares of the utilities provider’s stock valued at $50,981,000 after purchasing an additional 52,256 shares during the last quarter. Nuance Investments LLC grew its position in shares of Connecticut Water Service by 105.2% in the third quarter. Nuance Investments LLC now owns 263,673 shares of the utilities provider’s stock valued at $18,280,000 after purchasing an additional 135,180 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Connecticut Water Service by 7.3% in the third quarter. Renaissance Technologies LLC now owns 221,200 shares of the utilities provider’s stock valued at $15,345,000 after purchasing an additional 15,000 shares during the last quarter. 47.99% of the stock is currently owned by institutional investors.
NASDAQ:CTWS traded up $0.18 on Monday, hitting $68.20. The company’s stock had a trading volume of 31,000 shares, compared to its average volume of 51,175. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $819.64 million, a price-to-earnings ratio of 30.18 and a beta of -0.03. Connecticut Water Service has a one year low of $48.86 and a one year high of $70.30.
Connecticut Water Service (NASDAQ:CTWS) last released its quarterly earnings data on Friday, November 9th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter. The firm had revenue of $39.30 million for the quarter. Connecticut Water Service had a return on equity of 7.74% and a net margin of 14.73%. Equities research analysts expect that Connecticut Water Service will post 2.23 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 1st will be given a $0.313 dividend. This is an increase from Connecticut Water Service’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $1.25 annualized dividend and a dividend yield of 1.84%. Connecticut Water Service’s dividend payout ratio is presently 55.31%.
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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