California Water Service Group (NYSE:CWT) PT Raised to $55.00

California Water Service Group (NYSE:CWT) had its price target raised by analysts at Robert W. Baird from $52.00 to $55.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. Robert W. Baird’s target price indicates a potential upside of 14.75% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. UBS Group upgraded shares of California Water Service Group from a “sell” rating to a “neutral” rating and set a $49.00 price objective on the stock in a research report on Thursday, April 4th. StockNews.com upgraded shares of California Water Service Group to a “sell” rating in a research report on Saturday, March 9th. Finally, TheStreet cut shares of California Water Service Group from a “b-” rating to a “c+” rating in a research report on Wednesday, February 14th. One research 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $54.25.

California Water Service Group Price Performance

NYSE CWT opened at $47.93 on Friday. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $58.30. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 19.17 and a beta of 0.49. The company’s 50 day moving average is $46.11 and its two-hundred day moving average is $48.31. The company has a current ratio of 0.56, a quick ratio of 0.65 and a debt-to-equity ratio of 0.72.

California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $1.00. The firm had revenue of $270.75 million for the quarter, compared to analysts’ expectations of $183.85 million. California Water Service Group had a net margin of 15.42% and a return on equity of 10.09%. The company’s revenue for the quarter was up 106.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.40) earnings per share. As a group, research analysts anticipate that California Water Service Group will post 2.59 earnings per share for the current year.

Institutional Investors Weigh In On California Water Service Group

Large investors have recently bought and sold shares of the business. AdvisorNet Financial Inc increased its position in California Water Service Group by 42.2% in the fourth quarter. AdvisorNet Financial Inc now owns 741 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 220 shares during the last quarter. Signaturefd LLC increased its position in California Water Service Group by 64.4% in the third quarter. Signaturefd LLC now owns 1,065 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 417 shares during the last quarter. TFO Wealth Partners LLC increased its position in California Water Service Group by 57,000.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,142 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 1,140 shares during the last quarter. Global Retirement Partners LLC boosted its stake in California Water Service Group by 47.3% during the first quarter. Global Retirement Partners LLC now owns 2,910 shares of the utilities provider’s stock worth $135,000 after buying an additional 935 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in California Water Service Group by 93.3% during the fourth quarter. Quadrant Capital Group LLC now owns 3,748 shares of the utilities provider’s stock worth $194,000 after buying an additional 1,809 shares during the period. Institutional investors own 82.78% of the company’s stock.

About California Water Service Group

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection services.