Zacks: Connecticut Water Service, Inc. (CTWS) Receives Consensus Rating of “Hold” from Brokerages

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

Analysts have set a 1 year consensus price objective of $60.50 for the company and are anticipating that the company will post $0.21 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Connecticut Water Service an industry rank of 104 out of 265 based on the ratings given to its competitors.

CTWS has been the topic of a number of analyst reports. Zacks Investment Research raised Connecticut Water Service from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Wednesday, August 16th. BidaskClub cut Connecticut Water Service from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Barclays upped their target price on Connecticut Water Service from $53.00 to $57.00 and gave the company an “equal weight” rating in a research note on Friday, September 22nd.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. QS Investors LLC bought a new position in Connecticut Water Service in the second quarter worth approximately $111,000. SG Americas Securities LLC bought a new position in Connecticut Water Service in the second quarter worth approximately $140,000. Legal & General Group Plc grew its stake in 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 purchasing an additional 111 shares in the last quarter. Citadel Advisors LLC bought a new position in Connecticut Water Service in the third quarter worth approximately $207,000. Finally, Moors & Cabot Inc. bought a new position in Connecticut Water Service in the third quarter worth approximately $210,000. 46.05% of the stock is currently owned by hedge funds and other institutional investors.

Connecticut Water Service (NASDAQ:CTWS) opened at $58.56 on Monday. The company has a market capitalization of $706.70, a P/E ratio of 28.43, a PEG ratio of 4.42 and a beta of 0.09. Connecticut Water Service has a 52 week low of $50.75 and a 52 week high of $65.04. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.14 and a current ratio of 1.18.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.298 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 2.04%. Connecticut Water Service’s dividend payout ratio is 57.77%.

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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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