Wells Fargo & Co started coverage on shares of Connecticut Water Service (NASDAQ:CTWS) in a report published on Thursday morning, MarketBeat.com reports. The firm issued a market perform rating and a $66.00 price target on the utilities provider’s stock.
Several other research firms have also recently weighed in on CTWS. BidaskClub upgraded shares of Connecticut Water Service from a hold rating to a buy rating in a report on Tuesday, December 18th. Evercore ISI started coverage on shares of Connecticut Water Service in a report on Monday, September 17th. They issued an inline rating and a $67.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $62.00.
Shares of Connecticut Water Service stock traded down $0.39 on Thursday, hitting $64.27. The company had a trading volume of 144,184 shares, compared to its average volume of 99,419. The stock has a market capitalization of $800.46 million, a PE ratio of 35.52 and a beta of 0.02. Connecticut Water Service has a twelve month low of $48.86 and a twelve month high of $70.30. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 0.84.
Connecticut Water Service (NASDAQ:CTWS) last released its quarterly earnings results on Friday, November 9th. The utilities provider reported $1.31 earnings per share for the quarter. The company had revenue of $39.30 million during the quarter. Connecticut Water Service had a net margin of 14.73% and a return on equity of 7.74%.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Monday, December 3rd were given a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, November 30th.
Hedge funds have recently made changes to their positions in the company. SRS Capital Advisors Inc. bought a new stake in Connecticut Water Service during the third quarter worth $194,000. Dearborn Partners LLC bought a new stake in Connecticut Water Service during the third quarter worth $202,000. PNC Financial Services Group Inc. raised its position in Connecticut Water Service by 50.3% during the third quarter. PNC Financial Services Group Inc. now owns 4,217 shares of the utilities provider’s stock worth $293,000 after acquiring an additional 1,411 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Connecticut Water Service during the second quarter worth $301,000. Finally, MetLife Investment Advisors LLC raised its position in Connecticut Water Service by 34.5% during the second quarter. MetLife Investment Advisors LLC now owns 6,552 shares of the utilities provider’s stock worth $428,000 after acquiring an additional 1,681 shares in the last quarter. 47.95% of the stock is currently owned by institutional investors and hedge funds.
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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