Shares of Connecticut Water Service, Inc. (NASDAQ:CTWS) have been given a consensus broker rating score of 3.00 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation.
Analysts have set a 1-year consensus target price of $55.00 for the company, according to Zacks. Zacks has also assigned Connecticut Water Service an industry rank of 241 out of 265 based on the ratings given to its competitors.
A number of analysts recently issued reports on CTWS shares. BidaskClub raised Connecticut Water Service from a “sell” rating to a “hold” rating in a research report on Friday, March 23rd. ValuEngine raised Connecticut Water Service from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research raised Connecticut Water Service from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 6th. Finally, UBS started coverage on Connecticut Water Service in a research report on Thursday, March 8th. They set a “neutral” rating and a $53.00 price objective for the company.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Water Asset Management LLC boosted its position in Connecticut Water Service by 83.4% during the first quarter. Water Asset Management LLC now owns 478,172 shares of the utilities provider’s stock valued at $28,944,000 after purchasing an additional 217,378 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Connecticut Water Service by 9.4% in the first quarter. Guggenheim Capital LLC now owns 55,515 shares of the utilities provider’s stock worth $3,360,000 after buying an additional 4,767 shares during the last quarter. Barclays PLC lifted its position in shares of Connecticut Water Service by 850.4% in the first quarter. Barclays PLC now owns 18,171 shares of the utilities provider’s stock worth $1,101,000 after buying an additional 16,259 shares during the last quarter. Shelter Harbor Advisors LP acquired a new stake in shares of Connecticut Water Service in the first quarter worth about $757,000. Finally, ELCO Management Co. LLC lifted its position in shares of Connecticut Water Service by 61.6% in the first quarter. ELCO Management Co. LLC now owns 14,041 shares of the utilities provider’s stock worth $850,000 after buying an additional 5,353 shares during the last quarter. 49.85% of the stock is owned by hedge funds and other institutional investors.
Shares of Connecticut Water Service opened at $63.88 on Thursday, Marketbeat Ratings reports. The firm has a market capitalization of $772.37 million, a PE ratio of 28.27 and a beta of -0.06. The company has a quick ratio of 0.74, a current ratio of 0.77 and a debt-to-equity ratio of 0.87. Connecticut Water Service has a 12 month low of $48.86 and a 12 month high of $69.72.
Connecticut Water Service (NASDAQ:CTWS) last issued its earnings results on Wednesday, May 9th. The utilities provider reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.48). The business had revenue of $26.43 million during the quarter. Connecticut Water Service had a return on equity of 7.46% and a net margin of 16.28%. analysts predict that Connecticut Water Service will post 2.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Friday, June 1st will be given a dividend of $0.313 per share. This is a boost from Connecticut Water Service’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, May 31st. This represents a $1.25 dividend on an annualized basis and a yield of 1.96%. Connecticut Water Service’s dividend payout ratio (DPR) is presently 52.65%.
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.
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