Connecticut Water Service, Inc. (CTWS) Given Average Recommendation of “Hold” by Brokerages

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

Analysts have set a one year consensus price target of $60.50 for the company and are expecting that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also given Connecticut Water Service an industry rank of 207 out of 265 based on the ratings given to related companies.

CTWS has been the topic of a number of research reports. BidaskClub lowered Connecticut Water Service from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Investment Research lowered Connecticut Water Service from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Finally, Barclays increased their price objective on Connecticut Water Service from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Friday, September 22nd.

Connecticut Water Service (CTWS) traded down $0.84 during trading on Wednesday, reaching $53.69. The company’s stock had a trading volume of 32,228 shares, compared to its average volume of 47,271. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.14 and a current ratio of 1.18. Connecticut Water Service has a 52 week low of $50.75 and a 52 week high of $65.04. The stock has a market capitalization of $655.17, a PE ratio of 26.32, a PEG ratio of 4.06 and a beta of 0.09.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.298 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Thursday, November 30th. Connecticut Water Service’s dividend payout ratio is presently 58.33%.

Several hedge funds have recently made changes to their positions in CTWS. Rhumbline Advisers increased its holdings in shares of Connecticut Water Service by 2.3% in the second quarter. Rhumbline Advisers now owns 13,463 shares of the utilities provider’s stock valued at $747,000 after purchasing an additional 305 shares during the period. SG Americas Securities LLC acquired a new position in shares of Connecticut Water Service in the second quarter valued at about $140,000. Bank of New York Mellon Corp increased its holdings in shares of Connecticut Water Service by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 94,837 shares of the utilities provider’s stock valued at $5,264,000 after purchasing an additional 3,427 shares during the period. Legal & General Group Plc increased its holdings 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 valued at $151,000 after purchasing an additional 111 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Connecticut Water Service by 8.1% in the second quarter. Victory Capital Management Inc. now owns 12,451 shares of the utilities provider’s stock valued at $691,000 after purchasing an additional 929 shares during the period. 45.90% of the stock is currently owned by institutional investors and hedge funds.

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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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