Connecticut Water Service, Inc. (NASDAQ:CTWS) has been given an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three research analysts have rated the stock with a hold rating.
Brokers have set a 1 year consensus price target of $60.50 for the company and are forecasting that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also given Connecticut Water Service an industry rank of 189 out of 265 based on the ratings given to its competitors.
A number of research firms have issued reports on CTWS. BidaskClub downgraded shares of Connecticut Water Service from a “sell” rating to a “strong sell” rating in a report on Thursday. Zacks Investment Research raised shares of Connecticut Water Service from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 6th.
Several institutional investors have recently modified their holdings of CTWS. Westwood Holdings Group Inc. lifted its holdings in shares of Connecticut Water Service by 49.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 298,928 shares of the utilities provider’s stock worth $17,161,000 after acquiring an additional 98,576 shares during the period. Nuance Investments LLC bought a new stake in shares of Connecticut Water Service during the 4th quarter worth approximately $3,704,000. Deutsche Bank AG lifted its holdings in shares of Connecticut Water Service by 164.9% during the 4th quarter. Deutsche Bank AG now owns 66,472 shares of the utilities provider’s stock worth $3,814,000 after acquiring an additional 41,376 shares during the period. Cortina Asset Management LLC bought a new stake in shares of Connecticut Water Service during the 3rd quarter worth approximately $2,303,000. Finally, BlackRock Inc. lifted its holdings in shares of Connecticut Water Service by 3.7% during the 4th quarter. BlackRock Inc. now owns 852,846 shares of the utilities provider’s stock worth $48,963,000 after acquiring an additional 30,374 shares during the period. 47.08% of the stock is owned by institutional investors.
Connecticut Water Service (CTWS) traded up $0.85 during midday trading on Wednesday, reaching $53.62. 31,918 shares of the company’s stock were exchanged, compared to its average volume of 53,793. The company has a quick ratio of 1.14, a current ratio of 1.18 and a debt-to-equity ratio of 0.87. The company has a market cap of $657.53, a P/E ratio of 26.28, a P/E/G ratio of 4.01 and a beta of 0.01. Connecticut Water Service has a 52-week low of $50.56 and a 52-week high of $65.04.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a $0.2975 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, February 28th. Connecticut Water Service’s dividend payout ratio is currently 58.33%.
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Connecticut Water Service Company Profile
Connecticut Water Service, Inc is a non-operating holding company. The Company’s income is derived from the earnings of its subsidiary companies, including The Connecticut Water Company (Connecticut Water), The Maine Water Company (Maine Water), New England Water Utility Services, Inc (NEWUS),The Avon Water Company (AWC) and Chester Realty Company (Chester Realty).
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