Zacks Research Has Optimistic Outlook of CWT FY2027 Earnings

California Water Service Group (NYSE:CWT) – Investment analysts at Zacks Research increased their FY2027 earnings estimates for shares of California Water Service Group in a research report issued to clients and investors on Thursday, January 29th. Zacks Research analyst Team now expects that the utilities provider will post earnings of $2.64 per share for the year, up from their previous estimate of $2.63. The consensus estimate for California Water Service Group’s current full-year earnings is $3.15 per share.

A number of other research firms have also recently commented on CWT. Weiss Ratings reiterated a “hold (c)” rating on shares of California Water Service Group in a report on Wednesday, January 21st. Robert W. Baird set a $55.00 target price on California Water Service Group in a research report on Friday, October 31st. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.00.

California Water Service Group Stock Performance

California Water Service Group stock opened at $44.43 on Monday. The firm has a 50 day simple moving average of $44.09 and a 200-day simple moving average of $45.55. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 2.01 and a beta of 0.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.55 and a quick ratio of 0.52. California Water Service Group has a 1-year low of $41.29 and a 1-year high of $51.63.

Institutional Investors Weigh In On California Water Service Group

Several institutional investors and hedge funds have recently modified their holdings of CWT. Norges Bank purchased a new position in California Water Service Group during the 2nd quarter valued at about $30,757,000. Amundi lifted its position in shares of California Water Service Group by 19.4% during the third quarter. Amundi now owns 2,276,599 shares of the utilities provider’s stock worth $104,318,000 after purchasing an additional 369,430 shares in the last quarter. Millennium Management LLC lifted its position in shares of California Water Service Group by 5,365.1% during the third quarter. Millennium Management LLC now owns 368,074 shares of the utilities provider’s stock worth $16,891,000 after purchasing an additional 361,339 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of California Water Service Group in the first quarter valued at approximately $5,979,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of California Water Service Group in the second quarter valued at approximately $4,548,000. Hedge funds and other institutional investors own 82.78% of the company’s stock.

California Water Service Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Monday, February 9th will be paid a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 3.0%. This is a positive change from California Water Service Group’s previous quarterly dividend of $0.30. The ex-dividend date is Monday, February 9th. California Water Service Group’s payout ratio is currently 52.40%.

About California Water Service Group

California Water Service Group (NYSE: CWT) is a publicly traded holding company that provides regulated water utility services through its subsidiaries. The company delivers safe, reliable drinking water and wastewater management to residential, commercial, industrial and municipal customers across California, Hawaii and New Mexico. Its principal operating units include California Water Service, New Mexico Water Service and Hawaii Water Service, each responsible for end‐to‐end water supply operations—from source development and treatment to distribution and customer service.

Founded in 1926 as the California Water Service Company, the group has grown to become one of the largest investor‐owned water utilities in the United States by customer count.