|Bid||67.40 x 800|
|Ask||67.56 x 800|
|Day's Range||67.18 - 68.87|
|52 Week Range||48.86 - 69.80|
|PE Ratio (TTM)||40.84|
|Earnings Date||Nov 6, 2017 - Nov 10, 2017|
|Forward Dividend & Yield||1.25 (1.80%)|
|1y Target Est||64.00|
On a per-share basis, the Clinton, Connecticut-based company said it had net income of 39 cents. The water company posted revenue of $31.5 million in the period. Connecticut Water Service shares have risen ...
Total revenues include revenues generated by the Company’s three business segments: Water Operations, Service and Rentals, and Real Estate. In the second quarter of 2017, the Company had net income of $8.4 million or $0.75 per basic common share, on total revenues of $29.5 million.
SJW Group (SJW) makes an amended all-cash offer to acquire Connecticut Water Service. The new offer provides a 33% premium to the latter's shareholders.
SJW Group (SJW) today announced that members of the Moss family, stockholders who in aggregate own more than 31% of the company’s outstanding shares, have expressed support for the combination with Connecticut Water Service, Inc. (CTWS) (“Connecticut Water”) under the revised terms announced August 6, 2018. “The revised transaction will facilitate a powerful combination that should deliver significant immediate and long-term value to SJW Group stockholders.
SJW Group and Connecticut Water Service Inc said on Monday they were changing from a merger to an acquisition agreement, with SJW offering to buy the New England utility for $1.1 billion in cash instead of combining stock. The switch to an all-cash offer is worth $70 per Connecticut Water share, a 33 percent premium to Connecticut Water's share price prior to the original deal announced in March, according to a joint statement. It was also higher than the implied $61.86 per share value of the Clinton, Connecticut-based firm under the merger-of-equals transaction, which would have created a combined company in which existing SJW shareholders would hold 60 percent of the stock.
Sharses of Connecticut Water Service Inc. (ctws) shot up 9.9% in premarket trade Monday, after the water supply management company and SJW Group (sjw) announced an amendment to their merger agreement to an all-cash deal from all stock, and the in which the buyout bid increased to $70 a share. The per-share bid is 11% above Monday's closing price for Connecticut Water's stock of $62.85, is 10% above Eversource Energy's (es) per-share bid of $63.50 and 13% above the per-share value of the original Connecticut-SJW merger agreement in March.
SJW Group (SJW) (“SJW Group”) and Connecticut Water Service, Inc. (CTWS) (“Connecticut Water”) today announced that they have amended the terms of their previously announced merger agreement from a stock-for-stock transaction to an all-cash acquisition of all outstanding common shares of Connecticut Water by SJW Group for $70.00 per Connecticut Water common share. The cash transaction, which has a value of $1.1 billion and an equity purchase price of $843 million, is expected to be immediately accretive to SJW Group’s earnings per share (EPS) in 2019 (post-close), increasing each year thereafter to high single-digit percentage EPS accretion in 2021.
San Jose, Calif. and Clinton, Conn., July 20, 2018--. Companies Moving Forward to Secure Required Approvals for Planned Close During Fourth Quarter 2018 Combined Company Will Be a Leading, Pure-Play Water ...
CLINTON, Conn., July 16, 2018 /PRNewswire/ -- Connecticut Water Service, Inc. (CTWS) today issued the following statement regarding recent mischaracterizations of Eversource Energy's (ES) July 2, 2018 acquisition proposal. To avoid any confusion regarding the terms of Eversource's revised acquisition proposal, Connecticut Water clarified that Eversource's proposal is not for $66.00 per share. Eversource has only made a less than 1 percent increase to $64.00 per share from its prior inadequate, below market proposal.
Connecticut Water Service Inc rejected a revised takeover offer from Eversource Energy, according to regulatory filings from both companies on Friday, insisting it would consider abandoning its planned merger with another utility only for a much higher offer. The episode is the latest in a contentious four-way water utility merger battle that emerged after Connecticut Water and SJW Group announced in March they planned to combine, with California Water Service Group also involved. Clinton-based Connecticut Water, which turned down a previous takeover proposal from Eversource Energy, said it had received a $64 per share offer on July 2, but its board unanimously rejected this as it was "inadequate and still undervalues" the company, given it was worth less than 1 percent more than the dismissed April deal.
Eversource's Revised $64.00 Per Share Proposal Represents a Less Than 1% Increase from Previously Rejected $63.50 Per Share Proposal Following Comprehensive Review, Connecticut Water Service Board Unanimously ...
I am writing today to help inform people who are new to the stock market and want to better understand how you can grow your money by investing in ConnecticutRead More...
CLINTON, Conn., June 18, 2018 /PRNewswire/ -- Connecticut Water Service, Inc. (CTWS) today announced that the deadline to submit non-binding indicative proposals under the Company's previously announced "go-shop" process has expired and that no proposals or indications of interest were received. Connecticut Water's financial advisors directly contacted more than 50 parties, including more than 20 water and regulated utilities and more than 30 financial sponsors, to determine their interest in exploring a potential transaction with Connecticut Water.
Moody's Investors Service, (Moody's) affirmed NSTAR Electric Company's long and short-term ratings including its A2 Issuer Rating and Prime-1 commercial paper rating and changed its rating outlook to positive from stable. Moody's also affirmed its parent, Eversource Energy's long and short-term ratings including its Baa1 Issuer Rating and Prime-2 commercial paper rating.
California's utilities regulator has told SJW Group it must seek approval for its proposed merger with Connecticut Water Service Inc, according to a document provided by the regulator to Reuters, a move that creates a potentially significant impediment to the deal. The deal is part of a contentious four-way water utility merger battle, also involving California Water Services Group and Eversource Energy. A regulatory review in California would likely extend the time needed to approve the merger by many months, given the state's active approach to oversight, analysts have said.
The draft decision issued today by the Connecticut Public Utilities Regulatory Authority (PURA) to dismiss without prejudice the joint application of SJW Group and Connecticut Water for approval of a change of control was understandable given the active go-shop process in place. Connecticut Water understands PURA’s interest in conserving their resources and conducting their review once the go-shop process is completed. We look forward to making our PURA filing at the appropriate time following the conclusion of our previously announced go-shop process.
As previously announced, Connecticut Water and SJW Group (SJW) have amended the terms of the companies' merger agreement. The amended merger agreement, which was unanimously approved by the Board of Directors, includes a go-shop provision, pursuant to which Connecticut Water, with the assistance of its financial advisors, is actively soliciting proposals for an alternative merger, acquisition or other strategic transaction involving Connecticut Water. Connecticut Water has a right under the amended merger agreement to review and negotiate any alternative proposals received from third parties until 11:59 p.m. Eastern time on July 14, 2018. Pursuant to the go-shop provision, Connecticut Water and its financial advisors have already begun soliciting third party indications of interest.
American Water's unit is likely to invest $2 million to replace 6,300 miles of aging water mains in its Millburn service area.
LONDON, UK / ACCESSWIRE / June 4, 2018 / If you want access to our free research report on Connecticut Water Service, Inc. (NASDAQ: CTWS) ("Connecticut Water"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CTWS as the Company's latest news hit the wire. On May 31, 2018, the Company announced that it and California-based SJW Group have amended the terms of their merger agreement, pursuant to which Connecticut Water, with the assistance of its financial advisors, will actively solicit proposals for an alternative merger, acquisition, or other strategic transaction involving Connecticut Water. Active-Investors.com is currently working on the research report for American States Water Company (NYSE: AWR), which also belongs to the Utilities sector as the Company Connecticut Water Service.
Connecticut Water (CTWS) is likely to explore possible alternate offers for merger and acquisition through amendment in the merger agreement with SJW Group.
The deal amendment announced Thursday allows Connecticut Water to review and negotiate proposals from third parties until 11:59 p.m. Eastern on July 14. Although both sides have received unsolicited offers, the go-shop provision only applies to Connecticut Water. The amendment was unanimously approved by Connecticut Water’s board.
The amended agreement, which was unanimously approved by the Connecticut Water Board of Directors, includes a new go-shop provision, pursuant to which Connecticut Water, with the assistance of its financial advisors, will actively solicit proposals for an alternative merger, acquisition or other strategic transaction involving Connecticut Water. Connecticut Water has a right under the amended merger agreement to review and negotiate any alternative proposals received from third parties until 11:59 p.m. Eastern time on July 14, 2018.