BidaskClub lowered shares of Connecticut Water Service (NASDAQ:CTWS) from a hold rating to a sell rating in a report released on Saturday morning, BidAskClub reports.

Separately, Zacks Investment Research cut Connecticut Water Service from a hold rating to a sell rating in a research report on Monday, June 10th. Two investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. The stock has a consensus rating of Sell and a consensus price target of $66.50.

Connecticut Water Service stock opened at $70.01 on Friday. Connecticut Water Service has a 52 week low of $62.80 and a 52 week high of $70.50. The company’s 50 day moving average price is $69.97 and its two-hundred day moving average price is $69.19. The stock has a market cap of $844.95 million, a P/E ratio of 30.57 and a beta of -0.08. The company has a quick ratio of 0.40, a current ratio of 0.42 and a debt-to-equity ratio of 0.87.

Connecticut Water Service (NASDAQ:CTWS) last released its 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 during the quarter. Connecticut Water Service had a return on equity of 9.79% and a net margin of 17.18%. On average, equities analysts anticipate that Connecticut Water Service will post 2.3 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.327 per share. 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 payout ratio is currently 57.21%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Connecticut Water Service by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 702,648 shares of the utilities provider’s stock valued at $48,989,000 after buying an additional 22,822 shares during the last quarter. Nuance Investments LLC increased its holdings in Connecticut Water Service by 34.5% in the 2nd quarter. Nuance Investments LLC now owns 543,425 shares of the utilities provider’s stock worth $37,888,000 after acquiring an additional 139,531 shares during the last quarter. ARP Americas LP raised its stake in Connecticut Water Service by 27.7% in the 2nd quarter. ARP Americas LP now owns 418,851 shares of the utilities provider’s stock valued at $29,202,000 after acquiring an additional 90,739 shares during the period. CNH Partners LLC lifted its holdings in 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 purchasing an additional 99,850 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Connecticut Water Service by 6.9% during the second quarter. Renaissance Technologies LLC now owns 265,400 shares of the utilities provider’s stock valued at $18,504,000 after purchasing an additional 17,200 shares during the last quarter. Institutional investors and hedge funds own 53.32% of the company’s stock.

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.

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