California Water Service Group (NYSE:CWT) Raises Dividend to $0.26 Per Share

California Water Service Group (NYSE:CWTGet Rating) declared a quarterly dividend on Wednesday, January 25th, RTT News reports. Stockholders of record on Monday, February 6th will be paid a dividend of 0.26 per share by the utilities provider on Friday, February 17th. This represents a $1.04 annualized dividend and a dividend yield of 1.66%. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.25.

California Water Service Group has increased its dividend by an average of 8.2% per year over the last three years and has raised its dividend annually for the last 55 consecutive years. California Water Service Group has a dividend payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect California Water Service Group to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 52.4%.

California Water Service Group Stock Performance

Shares of CWT traded up $0.38 during mid-day trading on Wednesday, hitting $62.73. The stock had a trading volume of 162,328 shares, compared to its average volume of 159,820. The company has a market cap of $3.44 billion, a PE ratio of 42.13 and a beta of 0.45. The company’s fifty day simple moving average is $62.50 and its two-hundred day simple moving average is $59.79. The company has a quick ratio of 1.02, a current ratio of 1.05 and a debt-to-equity ratio of 0.82. California Water Service Group has a fifty-two week low of $48.46 and a fifty-two week high of $66.12.

California Water Service Group (NYSE:CWTGet Rating) last issued its earnings results on Thursday, October 27th. The utilities provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.13). The firm had revenue of $266.31 million during the quarter, compared to analyst estimates of $255.00 million. California Water Service Group had a return on equity of 6.61% and a net margin of 9.76%. On average, equities analysts expect that California Water Service Group will post 1.6 earnings per share for the current year.

Insider Buying and Selling at California Water Service Group

In other California Water Service Group news, Director Thomas M. Krummel sold 1,529 shares of California Water Service Group stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $62.92, for a total transaction of $96,204.68. Following the sale, the director now owns 29,105 shares of the company’s stock, valued at approximately $1,831,286.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Thomas M. Krummel sold 469 shares of the business’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $64.89, for a total value of $30,433.41. Following the sale, the director now owns 28,636 shares of the company’s stock, valued at approximately $1,858,190.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas M. Krummel sold 1,529 shares of the business’s stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $62.92, for a total value of $96,204.68. Following the completion of the sale, the director now directly owns 29,105 shares in the company, valued at approximately $1,831,286.60. The disclosure for this sale can be found here. Insiders have sold 2,498 shares of company stock valued at $156,572 in the last quarter. Corporate insiders own 0.97% of the company’s stock.

Institutional Trading of California Water Service Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky bought a new stake in shares of California Water Service Group in the 3rd quarter worth $792,000. Balyasny Asset Management LLC bought a new stake in shares of California Water Service Group in the 3rd quarter worth $525,000. Jane Street Group LLC bought a new stake in shares of California Water Service Group in the 3rd quarter worth $3,700,000. Thrivent Financial for Lutherans raised its stake in shares of California Water Service Group by 6.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 56,189 shares of the utilities provider’s stock worth $2,961,000 after buying an additional 3,359 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of California Water Service Group by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,624,310 shares of the utilities provider’s stock worth $349,034,000 after buying an additional 79,168 shares in the last quarter. Institutional investors own 79.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CWT. StockNews.com upgraded California Water Service Group from a “sell” rating to a “hold” rating in a research report on Monday, October 31st. Wells Fargo & Company boosted their price objective on California Water Service Group to $63.00 in a research report on Wednesday, December 14th. Finally, UBS Group assumed coverage on California Water Service Group in a research report on Wednesday, November 30th. They set a “neutral” rating and a $67.00 price objective for the company.

California Water Service Group Company Profile

(Get Rating)

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.

Featured Stories

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

Receive News & Ratings for California Water Service Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Water Service Group and related companies with MarketBeat.com's FREE daily email newsletter.