According to Zacks, “Shares of Connecticut Water Services returned higher than the broader industry in the last twelve month. The company continues to strengthen its existing infrastructure through regular capital investments, which is a must for the water utility space. In addition, customer expansion in its service territories is boosting demand while a constructive regulatory environment is helping the company generate additional revenues. Strategic acquisitions continue to be part of Connecticut Water’s growth strategy. However the company is subject to stringent environment regulations, demand variations with weather patterns, risk of failure of water mains and contamination of water sources which are the primary headwinds for the company.”
Shares of Connecticut Water Service (NASDAQ:CTWS) traded up 0.37% during mid-day trading on Tuesday, hitting $54.81. The stock had a trading volume of 13,841 shares. The firm has a market capitalization of $616.06 million, a price-to-earnings ratio of 24.78 and a beta of 0.10. Connecticut Water Service has a 1-year low of $38.28 and a 1-year high of $58.32. The stock’s 50-day moving average is $55.79 and its 200 day moving average is $52.00.
Connecticut Water Service (NASDAQ:CTWS) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. Connecticut Water Service had a net margin of 24.15% and a return on equity of 10.82%. The business earned $31.20 million during the quarter, compared to analyst estimates of $30.50 million. Equities research analysts predict that Connecticut Water Service will post $2.15 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were paid a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Tuesday, November 29th. Connecticut Water Service’s dividend payout ratio (DPR) is 51.13%.
Several institutional investors have recently modified their holdings of CTWS. Rhumbline Advisers increased its position in shares of Connecticut Water Service by 0.5% in the third quarter. Rhumbline Advisers now owns 13,911 shares of the company’s stock valued at $692,000 after buying an additional 70 shares during the period. California State Teachers Retirement System increased its position in shares of Connecticut Water Service by 0.9% in the third quarter. California State Teachers Retirement System now owns 22,922 shares of the company’s stock valued at $1,140,000 after buying an additional 200 shares during the period. Royal Bank of Canada increased its position in shares of Connecticut Water Service by 1.6% in the second quarter. Royal Bank of Canada now owns 21,891 shares of the company’s stock valued at $1,230,000 after buying an additional 336 shares during the period. Swiss National Bank increased its position in shares of Connecticut Water Service by 2.0% in the second quarter. Swiss National Bank now owns 20,300 shares of the company’s stock valued at $1,141,000 after buying an additional 400 shares during the period. Finally, BlackRock Inc. increased its position in shares of Connecticut Water Service by 7.8% in the third quarter. BlackRock Inc. now owns 6,569 shares of the company’s stock valued at $327,000 after buying an additional 477 shares during the period. 46.20% of the stock is owned by hedge funds and other institutional investors.
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) and Chester Realty Company (Chester Realty).
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