Connecticut Water Service (NASDAQ:CTWS) Downgraded to Sell at BidaskClub

BidaskClub cut shares of Connecticut Water Service (NASDAQ:CTWS) from a hold rating to a sell rating in a research note issued to investors on Saturday morning, BidAskClub reports.

Separately, Zacks Investment Research cut shares of Connecticut Water Service from a hold rating to a sell rating in a research note on Monday, June 10th. Two research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Connecticut Water Service presently has an average rating of Sell and a consensus target price of $66.50.

CTWS stock opened at $70.01 on Friday. The firm has a 50-day moving average price of $69.97 and a 200-day moving average price of $69.19. Connecticut Water Service has a 12 month low of $62.80 and a 12 month high of $70.50. 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 market capitalization of $844.95 million, a P/E ratio of 30.57 and a beta of -0.08.

Connecticut Water Service (NASDAQ:CTWS) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $30.66 million for the quarter. Connecticut Water Service had a net margin of 17.18% and a return on equity of 9.79%. As a group, equities analysts predict that Connecticut Water Service will post 2.3 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.327 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.31 annualized dividend and a yield of 1.87%. Connecticut Water Service’s dividend payout ratio is presently 57.21%.

Hedge funds have recently made changes to their positions in the company. ARP Americas LP lifted its holdings in shares of Connecticut Water Service by 27.7% during the second quarter. ARP Americas LP now owns 418,851 shares of the utilities provider’s stock worth $29,202,000 after purchasing an additional 90,739 shares during the period. Nuance Investments LLC grew its position in shares of Connecticut Water Service by 34.5% in the 2nd quarter. Nuance Investments LLC now owns 543,425 shares of the utilities provider’s stock valued at $37,888,000 after buying an additional 139,531 shares during the last quarter. CNH Partners LLC grew its position in shares of Connecticut Water Service by 46.0% in the 1st quarter. CNH Partners LLC now owns 316,701 shares of the utilities provider’s stock valued at $21,742,000 after buying an additional 99,850 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Connecticut Water Service in the 2nd quarter valued at about $1,134,000. Finally, Gamco Investors INC. ET AL increased its stake in shares of Connecticut Water Service by 11.8% in the first quarter. Gamco Investors INC. ET AL now owns 18,900 shares of the utilities provider’s stock valued at $1,297,000 after buying an additional 2,000 shares during the period. 53.32% of the stock is currently owned by hedge funds and other institutional investors.

Connecticut Water Service Company Profile

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.

Further Reading: Cash Asset Ratio

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