Connecticut Water Service Inc (NASDAQ:CTWS) has been given an average recommendation of “Hold” by the five brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $66.50.
A number of research firms have issued reports on CTWS. BidaskClub downgraded Connecticut Water Service from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Wells Fargo & Co began coverage on Connecticut Water Service in a research note on Thursday, January 10th. They set a “market perform” rating and a $66.00 price target for the company.
Several institutional investors have recently bought and sold shares of CTWS. SRS Capital Advisors Inc. bought a new position in shares of Connecticut Water Service during the 3rd quarter worth approximately $194,000. Dearborn Partners LLC bought a new position in shares of Connecticut Water Service during the 3rd quarter worth approximately $202,000. Strs Ohio bought a new position in shares of Connecticut Water Service during the 4th quarter worth approximately $220,000. PNC Financial Services Group Inc. lifted its position in shares of Connecticut Water Service by 50.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,217 shares of the utilities provider’s stock worth $293,000 after buying an additional 1,411 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its position in shares of Connecticut Water Service by 22.8% during the 3rd quarter. MetLife Investment Advisors LLC now owns 8,045 shares of the utilities provider’s stock worth $558,000 after buying an additional 1,493 shares in the last quarter. 47.99% of the stock is currently owned by hedge funds and other institutional investors.
Connecticut Water Service (NASDAQ:CTWS) last released its quarterly earnings results on Friday, November 9th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter. The business had revenue of $39.30 million during the quarter. Connecticut Water Service had a return on equity of 7.74% and a net margin of 14.73%. As a group, sell-side analysts forecast that Connecticut Water Service will post 2.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be given a dividend of $0.313 per share. 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%. This is a boost from Connecticut Water Service’s previous quarterly dividend of $0.31. Connecticut Water Service’s dividend payout ratio (DPR) is currently 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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