Connecticut Water Service (CTWS) Downgraded by BidaskClub to Hold

BidaskClub cut shares of Connecticut Water Service (NASDAQ:CTWS) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Several other equities analysts have also recently commented on CTWS. UBS Group cut shares of Connecticut Water Service from a neutral rating to a sell rating in a research note on Wednesday, August 29th. Evercore ISI started coverage on shares of Connecticut Water Service in a research note on Monday, September 17th. They set an inline rating and a $67.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $60.00.

NASDAQ:CTWS opened at $69.48 on Friday. The firm has a market cap of $833.04 million, a P/E ratio of 47.73 and a beta of -0.05. Connecticut Water Service has a one year low of $48.86 and a one year high of $69.96. 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 (NASDAQ:CTWS) last released its earnings results on Thursday, August 9th. The utilities provider reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.45). The company had revenue of $31.54 million for the quarter. Connecticut Water Service had a net margin of 13.02% and a return on equity of 6.02%.

Large investors have recently added to or reduced their stakes in the stock. Dearborn Partners LLC acquired a new position in Connecticut Water Service during the 3rd quarter valued at $202,000. Ontario Teachers Pension Plan Board bought a new stake in Connecticut Water Service in the 2nd quarter valued at $261,000. GSA Capital Partners LLP bought a new stake in Connecticut Water Service in the 2nd quarter valued at $301,000. MetLife Investment Advisors LLC increased its holdings in Connecticut Water Service by 34.5% in the 2nd quarter. MetLife Investment Advisors LLC now owns 6,552 shares of the utilities provider’s stock valued at $428,000 after buying an additional 1,681 shares during the period. Finally, Paloma Partners Management Co increased its holdings in Connecticut Water Service by 20.1% in the 2nd quarter. Paloma Partners Management Co now owns 11,948 shares of the utilities provider’s stock valued at $780,000 after buying an additional 2,002 shares during the period. Hedge funds and other institutional investors own 47.35% of the company’s stock.

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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