California Water Service Group Holding (CWT) to Issue Quarterly Dividend of $0.18 on November 17th

California Water Service Group Holding (NYSE:CWT) declared a quarterly dividend on Wednesday, October 25th, RTT News reports. Investors of record on Monday, November 6th will be given a dividend of 0.18 per share by the utilities provider on Friday, November 17th. This represents a $0.72 annualized dividend and a yield of 1.67%. The ex-dividend date is Friday, November 3rd.

California Water Service Group Holding has raised its dividend payment by an average of 2.5% per year over the last three years and has raised its dividend every year for the last 49 years. California Water Service Group Holding has a payout ratio of 54.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect California Water Service Group Holding to earn $1.40 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 51.4%.

California Water Service Group Holding (NYSE:CWT) opened at 43.05 on Friday. The stock has a market capitalization of $2.07 billion, a P/E ratio of 35.87 and a beta of 0.70. The company’s 50-day moving average price is $40.00 and its 200 day moving average price is $37.51. California Water Service Group Holding has a 52-week low of $30.05 and a 52-week high of $43.75.

California Water Service Group Holding (NYSE:CWT) last issued its earnings results on Thursday, October 26th. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. California Water Service Group Holding had a return on equity of 10.31% and a net margin of 10.46%. The business had revenue of $211.70 million for the quarter, compared to analysts’ expectations of $203.00 million. During the same period in the previous year, the firm posted $0.48 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities research analysts anticipate that California Water Service Group Holding will post $1.31 earnings per share for the current year.

In other news, VP Lynne P. Mcghee sold 1,079 shares of California Water Service Group Holding stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $36.94, for a total transaction of $39,858.26. Following the transaction, the vice president now owns 18,581 shares in the company, valued at $686,382.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Lynne P. Mcghee sold 1,605 shares of California Water Service Group Holding stock in a transaction on Friday, September 8th. The shares were sold at an average price of $37.61, for a total value of $60,364.05. Following the transaction, the vice president now owns 19,660 shares in the company, valued at approximately $739,412.60. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

A number of brokerages have recently weighed in on CWT. Zacks Investment Research upgraded California Water Service Group Holding from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Friday. BidaskClub downgraded California Water Service Group Holding from a “buy” rating to a “hold” rating in a report on Friday, July 28th. US Capital Advisors reiterated a “hold” rating on shares of California Water Service Group Holding in a report on Monday, July 17th. Robert W. Baird reiterated a “hold” rating and set a $35.00 price target on shares of California Water Service Group Holding in a report on Sunday, September 3rd. Finally, Barclays PLC lifted their price target on California Water Service Group Holding from $30.00 to $32.00 and gave the company an “underweight” rating in a report on Friday, September 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $36.75.

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California Water Service Group Holding Company Profile

California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.

Dividend History for California Water  Service Group Holding (NYSE:CWT)

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