Zacks: Connecticut Water Service, Inc. (CTWS) Given $56.00 Average Target Price by Brokerages
Shares of Connecticut Water Service, Inc. (NASDAQ:CTWS) have been given an average broker rating score of 3.00 (Hold) from the three analysts that cover the stock, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold rating.
Brokers have set a 12-month consensus price target of $56.00 for the company and are predicting that the company will post $0.88 EPS for the current quarter, according to Zacks. Zacks has also given Connecticut Water Service an industry rank of 64 out of 265 based on the ratings given to its competitors.
CTWS has been the subject of several analyst reports. Zacks Investment Research raised shares of Connecticut Water Service from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub downgraded shares of Connecticut Water Service from a “hold” rating to a “sell” rating in a research report on Friday.
In other Connecticut Water Service news, VP Maureen P. Westbrook sold 1,500 shares of Connecticut Water Service stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $55.94, for a total value of $83,910.00. Following the completion of the sale, the vice president now owns 37,179 shares of the company’s stock, valued at approximately $2,079,793.26. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.52% of the company’s stock.
A number of large investors have recently bought and sold shares of CTWS. American International Group Inc. increased its stake in Connecticut Water Service by 7.0% in the first quarter. American International Group Inc. now owns 6,664 shares of the utilities provider’s stock worth $354,000 after buying an additional 434 shares during the period. Bank of New York Mellon Corp increased its stake in Connecticut Water Service by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 91,410 shares of the utilities provider’s stock worth $4,858,000 after buying an additional 1,702 shares during the period. Kennedy Capital Management Inc. bought a new stake in Connecticut Water Service during the first quarter worth approximately $3,599,000. Renaissance Technologies LLC increased its stake in Connecticut Water Service by 1.7% in the first quarter. Renaissance Technologies LLC now owns 242,200 shares of the utilities provider’s stock worth $12,873,000 after buying an additional 4,100 shares during the period. Finally, Sit Investment Associates Inc. increased its stake in Connecticut Water Service by 381.8% in the first quarter. Sit Investment Associates Inc. now owns 5,300 shares of the utilities provider’s stock worth $282,000 after buying an additional 4,200 shares during the period. 46.82% of the stock is owned by institutional investors and hedge funds.
Connecticut Water Service (NASDAQ CTWS) traded up 0.71% on Wednesday, hitting $55.27. The company had a trading volume of 21,073 shares. The company has a market capitalization of $639.75 million, a P/E ratio of 27.61 and a beta of 0.09. Connecticut Water Service has a one year low of $45.13 and a one year high of $62.15. The stock’s 50-day moving average price is $56.27 and its 200 day moving average price is $55.04.
Connecticut Water Service (NASDAQ:CTWS) last announced its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The firm had revenue of $29.50 million for the quarter. Connecticut Water Service had a net margin of 21.37% and a return on equity of 9.21%. On average, analysts expect that Connecticut Water Service will post $2.21 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Wednesday, August 30th. Connecticut Water Service’s dividend payout ratio (DPR) is presently 59.50%.
About Connecticut Water Service
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),The Avon Water Company (AWC) and Chester Realty Company (Chester Realty).
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