Wells Fargo & Co initiated coverage on shares of Connecticut Water Service (NASDAQ:CTWS) in a research note released on Thursday, Marketbeat reports. The brokerage issued a market perform rating and a $66.00 target price on the utilities provider’s stock.
A number of other brokerages also recently weighed in on CTWS. BidaskClub downgraded shares of Connecticut Water Service from a strong-buy rating to a buy rating in a research note on Monday, December 31st. Evercore ISI began coverage on shares of Connecticut Water Service in a research note on Monday, September 17th. They issued 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 two have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $62.00.
CTWS stock traded down $0.39 during trading on Thursday, hitting $64.27. 144,184 shares of the stock traded hands, compared to its average volume of 99,419. Connecticut Water Service has a one year low of $48.86 and a one year high of $70.30. The company has a market capitalization of $800.46 million, a P/E ratio of 35.52 and a beta of 0.02. 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 announced its quarterly earnings results on Friday, November 9th. The utilities provider reported $1.31 earnings per share (EPS) for the quarter. Connecticut Water Service had a net margin of 14.73% and a return on equity of 7.74%. The firm had revenue of $39.30 million during the quarter.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Monday, December 3rd were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, November 30th.
Several large investors have recently modified their holdings of CTWS. SRS Capital Advisors Inc. acquired a new stake in shares of Connecticut Water Service during the 3rd quarter worth approximately $194,000. Dearborn Partners LLC acquired a new stake in shares of Connecticut Water Service during the 3rd quarter worth approximately $202,000. PNC Financial Services Group Inc. grew 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 during the period. GSA Capital Partners LLP acquired a new stake in shares of Connecticut Water Service during the 2nd quarter worth approximately $301,000. Finally, MetLife Investment Advisors LLC grew its position in shares of Connecticut Water Service by 34.5% during the 2nd quarter. MetLife Investment Advisors LLC now owns 6,552 shares of the utilities provider’s stock worth $428,000 after buying an additional 1,681 shares during the period. Institutional investors own 47.95% 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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