Shares of Connecticut Water Service, Inc. (NASDAQ:CTWS) have earned an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.

Brokerages have set a 12-month consensus target price of $56.00 for the company and are expecting that the company will post $0.88 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Connecticut Water Service an industry rank of 179 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded Connecticut Water Service from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a report on Wednesday.

Several institutional investors have recently made changes to their positions in CTWS. Cambridge Trust Co. increased its position in shares of Connecticut Water Service by 0.4% in the second quarter. Cambridge Trust Co. now owns 6,053 shares of the utilities provider’s stock worth $336,000 after buying an additional 23 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Connecticut Water Service by 1.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,975 shares of the utilities provider’s stock worth $387,000 after buying an additional 100 shares in the last quarter. Legal & General Group Plc increased its position in shares of Connecticut Water Service by 4.3% in the second quarter. Legal & General Group Plc now owns 2,715 shares of the utilities provider’s stock worth $151,000 after buying an additional 111 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Connecticut Water Service by 2.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 8,345 shares of the utilities provider’s stock worth $444,000 after buying an additional 210 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Connecticut Water Service by 4.8% in the second quarter. Ameriprise Financial Inc. now owns 4,814 shares of the utilities provider’s stock worth $290,000 after buying an additional 219 shares in the last quarter. Institutional investors own 46.59% of the company’s stock.

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Shares of Connecticut Water Service (NASDAQ:CTWS) traded down 1.82% on Thursday, reaching $54.48. 19,366 shares of the company were exchanged. The firm has a market capitalization of $630.61 million, a PE ratio of 27.21 and a beta of 0.09. Connecticut Water Service has a 12-month low of $45.13 and a 12-month high of $62.15. The stock’s 50-day moving average is $56.37 and its 200 day moving average is $54.95.

Connecticut Water Service (NASDAQ:CTWS) last announced its quarterly earnings data 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 company had revenue of $29.50 million during the quarter. Connecticut Water Service had a net margin of 21.37% and a return on equity of 9.21%. On average, analysts forecast that Connecticut Water Service will post $2.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.298 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 2.19%. Connecticut Water Service’s dividend payout ratio is presently 59.50%.

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),The Avon Water Company (AWC) and Chester Realty Company (Chester Realty).

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