California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection. The company offers its services to approximately 492,600 customer connections in 100 California communities; approximately 5,300 water and wastewater customer connections on the islands of Maui and Hawaii; approximately 36,600 customer connections in the Tacoma, Olympia, Graham, Spanaway, Puyallup, and Gig Harbor areas; and approximately 8,500 water and wastewater customer connections in the Belen, Los Lunas, Indian Hills, and Elephant Butte areas in New Mexico. It also engages in the provision of non-regulated water-related services, including operating of municipally owned water systems, privately owned water, and recycled water distribution systems; water system operation, meter reading, and billing services to private companies and municipalities; leasing of communication antenna sites on its properties to telecommunication companies; and billing of optional third-party insurance programs to its residential customers, as well as provides lab services. In addition, the company offers wastewater collection and treatment services. California Water Service Group was founded in 1926 and is headquartered in San Jose, California.
IPO Year:
Exchange: NYSE
Website: calwatergroup.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/31/2024 | $50.00 → $57.00 | Underweight → Equal Weight | Wells Fargo |
| 4/4/2024 | Sell → Neutral | UBS | |
| 10/25/2023 | $56.00 → $47.00 | Equal Weight → Underweight | Wells Fargo |
| 7/28/2023 | $66.00 | Neutral → Buy | Janney |
| 6/28/2023 | $58.00 → $56.00 | Underweight → Equal Weight | Wells Fargo |
| 6/14/2023 | $59.00 → $51.00 | Neutral → Sell | UBS |
| 1/25/2022 | Sell → Neutral | Seaport Global | |
| 1/25/2022 | $78.00 | Sell → Neutral | Seaport Research Partners |
| 12/1/2021 | $62.00 → $63.00 | Underweight | Wells Fargo |
SAN JOSE, Calif., Oct. 31, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (("Group" or "Company, NYSE:CWT), a leading publicly traded water utility serving California, Hawaii, New Mexico, Washington, and Texas, today reported financial results for the third quarter of 2024. Highlights included: Recorded diluted earnings per share of $1.03 in Q3 2024 and $2.93 year-to-date, compared to $0.60 in Q3 and $0.38 year-to-date in 2023.Invested a record $332.2 million of capital in infrastructure during the first nine months of 2024.Retained authorized return on equity ("ROE") of 10.27% for 2025 for California Water Service (Cal Water).Declared the 319th consecutive quarterly dividen
SAN JOSE, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- At its meeting on October 30, 2024, the California Water Service Group (NYSE:CWT) Board of Directors declared the company's 319th consecutive quarterly dividend in the amount of $0.28 per common share. It will be payable on November 22, 2024 to stockholders of record as of the close of business on November 12, 2024. California Water Service Group is the parent company of regulated utilities California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, as well as Texas Water Service, a utility holding company. Together, these companies provide regulated and non-regulated water and wastewater servi
SAN JOSE, Calif., Oct. 21, 2024 (GLOBE NEWSWIRE) -- NYSE: CWT—For the utility's commitment to improving the lives of those in its local communities, the National Association for the Advancement of Colored People (NAACP) Butte County Chapter has honored California Water Service (Cal Water) with the 2024 Excellence in Community Grants & Scholarships Award. The award recognizes Cal Water's efforts to invest in the future of Butte County's youth. Cal Water, which provides water utility service to Chico and Oroville in Butte County, has sponsored NAACP events to raise funds for student scholarships annually for the past three years. The utility also offers a yearly College Scholarship Progra
SAN JOSE, Calif., Oct. 14, 2024 (GLOBE NEWSWIRE) -- For its commitment to and advancements in sustainability, California Water Service Group (Group) (NYSE:CWT) has been named one of "America's Greenest Companies" by Newsweek. The magazine recognized eight companies in the utilities category, with Group being one of only two water utilities honored. Newsweek partnered with Plant-A Insights Group and GIST Impact to recognize the top 500 U.S. companies committed to reducing their environmental impact based on publicly disclosed sustainability data in key areas. The companies were also screened for relevant media mentions. "Part of our mission to be the leading provider of sustainable water
SAN JOSE, Calif., Oct. 10, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE:CWT) today announced that its 2024 third quarter earnings results will be released at 9:00 a.m. ET with its earnings conference call to follow at 11:00 a.m. ET on Thursday, October 31, 2024. All stockholders and interested investors are invited to attend the conference call. To attend, please dial 1-800-715-9871 or 1-646-307-1963 and key in ID# 2796844, or you may access the live audio webcast at https://edge.media-server.com/mmc/p/z25hs69f. Please join at least 15 minutes in advance to ensure a timely connection to the call. A replay of the call will be available from 2:00 p.m. ET on Thursday, O
SAN JOSE, Calif., Sept. 30, 2024 (GLOBE NEWSWIRE) -- NYSE: CWT—For the second year in a row, the U.S. Environmental Protection Agency (EPA) has honored California Water Service (Cal Water) with its WaterSense® Excellence in Promoting WaterSense Labeled Products Award. EPA presented the 2024 national award to Cal Water for the utility's commitment to, and partnership in, helping customers become more water-efficient. This award recognizes a partner that goes above and beyond to help consumers understand the value of water-use efficiency and aligns with EPA's focus to aid in those efforts. Last year, through Cal Water's free Smart Landscape Tune-Up Program—which provides evaluations and rep
SAN JOSE, Calif., Sept. 19, 2024 (GLOBE NEWSWIRE) -- California Water Service (Cal Water), in partnership with DoGoodery, has launched its 11th annual water conservation education program for schools and students in kindergarten through 12th grade. Tap Into Learning offers multiple opportunities for students, classrooms, and school-based clubs in Cal Water service areas to engage in activities related to water conservation and sustainability throughout the 2024-25 academic year. Program components include: Aqua Adventures, which offers free water-and nature-based field trips for upper elementary classrooms, grades 4-6, in Cal Water service areas. Teachers simply enter their classroom onl
SAN JOSE, Calif., Sept. 10, 2024 (GLOBE NEWSWIRE) -- (NYSE:CWT)—For his leadership to keep water flowing to his local communities during the devastating Lahaina wildfire last year, the National Association of Water Companies (NAWC) honored John (Kani) Kadowaki with the Living Water Award during its annual Water Summit today. Kadowaki is the Maui Operations Manager of Hawaii Water Service (Hawaii Water), a subsidiary of California Water Service Group (Group). The Living Water Award is presented to the regulated water industry professional who best demonstrates excellence in serving the community, colleagues, the industry, or the environment. Although Kadowaki's own family and home were
SAN JOSE, Calif., Sept. 04, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (Group) (NYSE:CWT) has earned a spot on Newsweek's list of the "World's Most Trustworthy Companies" for the second year in a row, the magazine announced today. The designation, also in its second year, was given to Group by Newsweek and Statista Inc., a leading statistics portal and industry ranking provider, based on feedback and analysis from the utility's customers, investors, and employees. Newsweek selected 57 companies to be honored in the energy and utilities category, with Group being one of only five water utilities recognized. The 2024 list recognizes 1,000 of the largest stock exchange-listed co
SAN JOSE, Calif., Sept. 03, 2024 (GLOBE NEWSWIRE) -- California Water Service (Cal Water) opened its sixth annual Firefighter Grant Program today to fire departments in its districts, as part of its ongoing commitment to—and partnership with—local first responders. Cal Water encourages professional and volunteer fire departments that serve any part of Cal Water's service areas to apply for funding that will offset costs for fire protection efforts, equipment, training, and education. Cal Water's Firefighter Grant Program has provided more than $854,000 in grants to local fire departments since the program started in 2019. Grants last year ranged from $5,400 to $36,900 to fund equipment su
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SAN JOSE, Calif., Jan. 04, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE:CWT) today announced that after conducting an extensive, nation-wide search, it has selected James P. Lynch to join the company as Senior Vice President, Chief Financial Officer and Treasurer, effective January 3, 2024. He succeeds interim Vice President, Chief Financial Officer, and Treasurer David B. Healey. Mr. Healey will serve as Principal Financial Officer on an interim basis, ensuring a smooth transition and supporting the company in its fiscal year 2023 financial reporting. Mr. Lynch is an accomplished senior executive and seasoned finance leader with more than 22 years of experience in the wa
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Wells Fargo upgraded California Water from Underweight to Equal Weight and set a new price target of $57.00 from $50.00 previously
UBS upgraded California Water from Sell to Neutral
Wells Fargo downgraded California Water from Equal Weight to Underweight and set a new price target of $47.00 from $56.00 previously
Janney upgraded California Water from Neutral to Buy and set a new price target of $66.00
Wells Fargo upgraded California Water from Underweight to Equal Weight and set a new price target of $56.00 from $58.00 previously
UBS downgraded California Water from Neutral to Sell and set a new price target of $51.00 from $59.00 previously
Seaport Global upgraded California Water Service from Sell to Neutral
Seaport Research Partners upgraded California Water from Sell to Neutral and set a new price target of $78.00
Wells Fargo reiterated coverage of California Water Service with a rating of Underweight and set a new price target of $63.00 from $62.00 previously
Seaport Global downgraded California Water Service from Neutral to Sell and set a new price target of $55.00
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Baird analyst Ben Kallo maintains California Water Servs Gr (NYSE:CWT) with a Outperform and raises the price target from $52 to $55.
California Water Servs Gr (NYSE:CWT) reported quarterly earnings of $1.21 per share which beat the analyst consensus estimate of $0.36 by 236.11 percent. This is a 402.5 percent increase over losses of $(0.40) per share from the same period last year. The company reported quarterly sales of $270.75 million which beat the analyst consensus estimate of $183.85 million by 47.27 percent. This is a 106.52 percent increase over sales of $131.10 million the same period last year.
Martin A. Kropelnicki, Group Chairman & CEO, said, "Although the CPUC rejected our application to include capital costs in our PFAS balancing account, we will proceed with our plans to construct treatment to meet the new federal water quality standard." Additionally, Group has filed lawsuits to hold PFAS manufacturers financially responsible for the costs of testing and treatment, and is pursuing grants where available, to reduce the financial impact on its customers.
believes its subsidiaries are well positioned to treat potentially impacted water sources and to meet the EPA's five-year compliance timeline.
UBS analyst Gregg Orrill upgrades California Water Servs Gr (NYSE:CWT) from Sell to Neutral and announces $49 price target.
Baird analyst Ben Kallo maintains California Water Servs Gr (NYSE:CWT) with a Outperform and lowers the price target from $56 to $52.
California Water Servs Gr (NYSE:CWT) reported its Q4 earnings results on Thursday, February 29, 2024 at 09:00 AM. Here's what investors need to know about the announcement. Earnings California Water Servs Gr missed estimated earnings by -57.99999999999999%, reporting an EPS of $0.52 versus an estimate of $1.24. Revenue was up $13.57 million from the same period last year. Past Earnings Performance Last quarter the company missed on EPS by $0.13 which was followed by a 0.0% increase in the share price the next day. Here's a look at California Water Servs Gr's past performance: Quarter Q3 2023 Q2 2023 Q1 2023 Q4 2022 EPS Estimate 0.73 0.55 0 0.31 EPS Actual 0.60 0.17 -0.4 0.35 Reven
California Water Servs Gr (NYSE:CWT) is set to give its latest quarterly earnings report on Thursday, 2024-02-29. Here's what investors need to know before the announcement. Analysts estimate that California Water Servs Gr will report an earnings per share (EPS) of $1.24. California Water Servs Gr bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast). Past Earnings Performance Last quarter the company missed EPS by $0.13, which was fol
Investors eagerly anticipate the dividend payout from California Water Servs Gr (NYSE:CWT) on February 23, 2024. With a payout of $0.26 per share and an annualized dividend yield of 2.29%, this reward is exclusively for shareholders who held the stock before the ex-dividend date on February 09, 2024 California Water Servs Gr Recent Dividend Payouts table { width: 100%; border-collapse: collapse; font-family: Arial, sans-serif; font-size: 14px; } th, td { padding: 8px; text-align: left; } th { background-color: #293a5a; color: #fff; text-align:
SAN JOSE, Calif., Oct. 31, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (("Group" or "Company, NYSE:CWT), a leading publicly traded water utility serving California, Hawaii, New Mexico, Washington, and Texas, today reported financial results for the third quarter of 2024. Highlights included: Recorded diluted earnings per share of $1.03 in Q3 2024 and $2.93 year-to-date, compared to $0.60 in Q3 and $0.38 year-to-date in 2023.Invested a record $332.2 million of capital in infrastructure during the first nine months of 2024.Retained authorized return on equity ("ROE") of 10.27% for 2025 for California Water Service (Cal Water).Declared the 319th consecutive quarterly dividen
SAN JOSE, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) -- At its meeting on October 30, 2024, the California Water Service Group (NYSE:CWT) Board of Directors declared the company's 319th consecutive quarterly dividend in the amount of $0.28 per common share. It will be payable on November 22, 2024 to stockholders of record as of the close of business on November 12, 2024. California Water Service Group is the parent company of regulated utilities California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, as well as Texas Water Service, a utility holding company. Together, these companies provide regulated and non-regulated water and wastewater servi
SAN JOSE, Calif., Oct. 10, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE:CWT) today announced that its 2024 third quarter earnings results will be released at 9:00 a.m. ET with its earnings conference call to follow at 11:00 a.m. ET on Thursday, October 31, 2024. All stockholders and interested investors are invited to attend the conference call. To attend, please dial 1-800-715-9871 or 1-646-307-1963 and key in ID# 2796844, or you may access the live audio webcast at https://edge.media-server.com/mmc/p/z25hs69f. Please join at least 15 minutes in advance to ensure a timely connection to the call. A replay of the call will be available from 2:00 p.m. ET on Thursday, O
SAN JOSE, Calif., July 31, 2024 (GLOBE NEWSWIRE) -- At its meeting on July 31, 2024, the California Water Service Group (NYSE:CWT) Board of Directors declared the company's 318th consecutive quarterly dividend in the amount of $0.28 per common share. It will be payable on August 23, 2024 to stockholders of record as of the close of business on August 12, 2024. California Water Service Group is the parent company of regulated utilities California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, as well as Texas Water Service, a utility holding company. Together, these companies provide regulated and non-regulated water and wastewater service to m
SAN JOSE, Calif., July 11, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE:CWT) today announced that its 2024 second quarter earnings results will be released at 9:00 a.m. ET with its earnings conference call to follow at 11:00 a.m. ET on Thursday, August 1, 2024. All stockholders and interested investors are invited to attend the conference call. To attend, please dial 1-800-715-9871 or 1-646-307-1963 and key in ID# 5681819, or you may access the live audio webcast at https://edge.media-server.com/mmc/p/nfn5956c. Please join at least 15 minutes in advance to ensure a timely connection to the call. A replay of the call will be available from 2:00 p.m. ET on Thursday, August
SAN JOSE, Calif., July 09, 2024 (GLOBE NEWSWIRE) -- To continue providing safe, clean, reliable tap water to customers across the communities it serves, California Water Service (Cal Water)—the largest subsidiary of California Water Service Group (NYSE:CWT)—yesterday submitted Infrastructure Improvement Plans for its California districts from 2025-2027 in its General Rate Case (GRC) filing with the California Public Utilities Commission (CPUC). The application also proposes a Low-Use Water Equity Program, which would decouple revenue from water sales, to assist low-water-using, lower-income customers. The required, triennial filing begins an approximately 18-month review process by the CP
SAN JOSE, Calif., April 25, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (("Group" or "Company, NYSE:CWT), a leading publicly traded water utility serving California, Hawaii, New Mexico, Washington, and Texas, today reported results for the first quarter of 2024. Highlights included: Diluted earnings per share of $1.21 in Q1 2024, compared to a loss of $0.40 in Q1 2023.A decision on the 2021 California General Rate Case and Infrastructure Improvement Plan (2021 GRC) that authorizes implementation of beneficial regulatory mechanisms, increased revenues, and approximately $1.2 billion in infrastructure improvement projects.Implementation of 10.27% return on equity in California.
SAN JOSE, Calif., April 24, 2024 (GLOBE NEWSWIRE) -- At its meeting on April 24, 2024, the California Water Service Group (NYSE:CWT) Board of Directors declared the company's 317th consecutive quarterly dividend in the amount of $0.28 per common share. It will be payable on May 17, 2024 to stockholders of record as of the close of business on May 6, 2024. California Water Service Group is the parent company of regulated utilities California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, as well as Texas Water Service, a utility holding company. Together, these companies provide regulated and non-regulated water and wastewater service to more t
SAN JOSE, Calif., April 04, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE:CWT) today announced that its 2024 first quarter earnings results will be released at 9:00 a.m. ET with its earnings conference call to follow at 11:00 a.m. ET on Thursday, April 25, 2024. All stockholders and interested investors are invited to attend the conference call. To attend, please dial 1-800-715-9871 or 1-646-307-1963 and key in ID# 8751121, or you may access the live audio webcast at https://edge.media-server.com/mmc/p/bq5mbakr Please join at least 15 minutes in advance to ensure a timely connection to the call. A replay of the call will be available from 2:00 p.m. ET on Thursday, April 2
SAN JOSE, Calif., Feb. 29, 2024 (GLOBE NEWSWIRE) -- California Water Service Group (NYSE:CWT) ("Company" or "CWT") today announced 2023 full year net income attributable to CWT of $51.9 million and diluted earnings per share of $0.91 for 2023, as compared to net income attributable to CWT of $96.0 million and diluted earnings per share of $1.77 for 2022. The $44.1 million decrease in net income was primarily due to the delayed final decision from the California Public Utilities Commission ("CPUC") on California Water Service Company's ("Cal Water") pending 2021 General Rate Case ("2021 GRC") to set new revenue, rates, and regulatory mechanisms. The 2021 GRC was originally scheduled to b