Separately, Zacks Investment Research cut shares of Connecticut Water Service from a hold rating to a sell rating in a research report on Monday, June 10th.
Shares of NASDAQ CTWS opened at $70.04 on Friday. Connecticut Water Service has a 12-month low of $62.80 and a 12-month high of $70.50. The company has a market cap of $845.04 million, a P/E ratio of 29.05 and a beta of -0.08. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 0.87. The stock has a fifty day moving average price of $69.99 and a 200 day moving average price of $69.28.
Connecticut Water Service (NASDAQ:CTWS) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Connecticut Water Service had a net margin of 17.18% and a return on equity of 9.79%. The business had revenue of $30.66 million for the quarter. On average, sell-side analysts forecast that Connecticut Water Service will post 2.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.327 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.31 dividend on an annualized basis and a yield of 1.87%. Connecticut Water Service’s dividend payout ratio is currently 57.21%.
Hedge funds and other institutional investors have recently modified their holdings of the business. ARP Americas LP raised its holdings in shares of Connecticut Water Service by 249.1% during the first quarter. ARP Americas LP now owns 328,112 shares of the utilities provider’s stock valued at $22,525,000 after buying an additional 234,118 shares during the last quarter. Nuance Investments LLC increased its stake in shares of Connecticut Water Service by 34.5% during the second quarter. Nuance Investments LLC now owns 543,425 shares of the utilities provider’s stock valued at $37,888,000 after acquiring an additional 139,531 shares during the period. CNH Partners LLC increased its stake in shares of Connecticut Water Service by 46.0% during the first quarter. CNH Partners LLC now owns 316,701 shares of the utilities provider’s stock valued at $21,742,000 after acquiring an additional 99,850 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of Connecticut Water Service during the second quarter valued at approximately $3,345,000. Finally, Morgan Stanley increased its stake in shares of Connecticut Water Service by 12.9% during the second quarter. Morgan Stanley now owns 203,000 shares of the utilities provider’s stock valued at $14,153,000 after acquiring an additional 23,217 shares during the period. 53.32% of the stock is currently owned by hedge funds and other institutional investors.
About Connecticut Water Service
Connecticut Water Service, Inc, together with its subsidiaries, operates as a regulated water company. The company operates through three segments: Water Operations, Real Estate Transactions, and Services and Rentals. The Water Operations segment supplies public drinking water and provides wastewater services.
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