|Bid||17.00 x 2200|
|Ask||0.00 x 1000|
|Day's Range||40.30 - 40.85|
|52 Week Range||35.25 - 46.15|
|PE Ratio (TTM)||30.79|
|Earnings Date||Jul 26, 2018|
|Forward Dividend & Yield||0.75 (1.78%)|
|1y Target Est||38.00|
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.
Washington Water Service (Washington Water), a subsidiary of California Water Service Group (CWT), this week filed a proposal with the Washington Utilities and Transportation Commission to reflect infrastructure investments made since 2014 and increases in its operating costs. Investments made in Washington Water’s systems include new pumping equipment and water mains to reliably deliver water to customers, water treatment facilities to meet water quality standards, wells to increase supply, and storage tanks to augment reserve supplies for customers’ everyday needs and firefighters’ emergency resources. If approved as proposed, Washington Water would increase annual revenues by $1.64 million, or 13.8%, with any rate changes becoming effective as soon as August 2018.
SAN JOSE, Calif., July 05, 2018-- California Water Service Group today announced that its second quarter 2018 earnings results will be released at 9:00 a.m. ET with its teleconference to follow at 11:00 ...
California Water Service's (CWT) unit files an application to invest $828.5 million for strengthening its water infrastructure in California.
As part of its commitment to provide a reliable supply of high-quality water to the communities it serves, California Water Service (Cal Water)—the largest subsidiary of California Water Service Group (CWT)—yesterday submitted infrastructure improvement plans in all of its California districts for years 2019-2021 in its General Rate Case (GRC) filing with the California Public Utilities Commission (Commission).
California Water Service Group (CWT) today announced the election of Shelly M. Esque to the Company’s Board of Directors, effective June 27, 2018. Prior to her retirement in 2016, Esque, 58, served as Vice President and Global Director of Corporate Affairs at Intel Corporation, overseeing professionals in more than 35 countries responsible for enhancing Intel’s reputation as the world’s leading technology brand and corporate citizen. She also served as both president and chair of the Intel Foundation. “Given our commitment to excellence in corporate citizenship, Shelly is an excellent fit on our Board. She is a dynamic leader in her profession, and I know she will be a valuable asset to our team,” said Chairman Peter C. Nelson.
American Water Works (AWK) continues to invest, thereby strengthening its existing water infrastructure to serve customers more efficiently.
California Water Service Group (“California Water”) (CWT) today sent a letter to SJW Group (“SJW”) (SJW) stockholders, along with a WHITE proxy card, in connection with SJW’s upcoming Special Meeting of Stockholders. The letter outlines serious corporate governance concerns about SJW, which provide further reasons for SJW stockholders to vote AGAINST the proposed all-stock merger between SJW and Connecticut Water (CTWS) using the WHITE proxy card. On April 4, 2018, California Water made a proposal to acquire SJW for $68.25 per share in cash, which exceeds SJW’s all-time high closing share price, and represents a 30% premium to SJW’s share price at the time of California Water’s proposal.
For the seventh year in a row, the Bay Area News Group has named California Water Service Group (CWT) one of the Top Workplaces in the Bay Area. The 2018 distinction, which was announced yesterday evening, was awarded based on input from local employees of its largest subsidiary, California Water Service (Cal Water). Cal Water is a regulated water utility with 376 employees in the Bay Area.
There is a lot to be liked about California Water Service Group (NYSE:CWT) as an income stock, over the past 10 years it has returned an average of 3.00% perRead More...
“Predictably, the SJW Board has taken a further step to entrench itself and its management team by summarily rejecting California Water’s $68.25 all-cash tender offer, which we believe is far superior to that of SJW’s proposed merger with Connecticut Water.
SAN JOSE, Calif., June 12, 2018-- The American Water Works Association honored California Water Service with the 2018 Diversity Award today for the utility’ s ongoing commitment to promoting and embracing ...
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.
California Water Service (CWT) makes a direct offer to SJW stakeholders at a 30% premium after the latter's board refuses the acquisition proposal of the former.
LONDON, UK / ACCESSWIRE / June 11, 2018 / If you want access to our free research report on California Water Service Group (NYSE: CWT) ("California Water"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CWT as the Company's latest news hit the wire. On June 07, 2018, the Company announced that it has initiated a tender offer ("the Offer") to acquire all of the outstanding shares of SJW Group (NYSE: SJW) for $68.25 per share in cash.
SAN JOSE, Calif., June 08, 2018 (GLOBE NEWSWIRE) -- (CWT) The City of Commerce has renewed a lease agreement for California Water Service (Cal Water) to operate the City’s water system for the next 15 years. The City of Commerce water system, which serves 1,200 customer connections, will continue to be operated by Cal Water’s East Los Angeles District through 2033. Cal Water, which has run the City of Commerce water system since 1985, is responsible for all operations, maintenance, water quality assurance, and customer service programs to provide a reliable supply of water that meets federal and state standards to customers served by the City system.
California Water Service Group (“California Water”) (CWT) today announced that it has commenced a tender offer to acquire all outstanding shares of SJW Group (SJW) for $68.25 per share in cash. On April 4, 2018, California Water made a private proposal to acquire SJW for $68.25 per share in cash, which exceeds SJW’s all-time high closing share price, and represents a 30% premium to SJW’s share price at the time of California Water’s proposal. In light of SJW’s refusal to engage, and as part of its commitment to consummating a transaction with SJW, California Water has decided to take its proposal directly to SJW stockholders in the form of a tender offer.
California Water Service Group (“California Water”) (CWT) today commended the San Jose City Council on its unanimous decision to formally request that the California Public Utilities Commission (CPUC) review the proposed merger of SJW Group (“SJW”) (SJW) and Connecticut Water Service (“Connecticut Water”) (CTWS). The request is the result of a motion passed by the San Jose City Council on June 5, 2018, which was approved by a vote of 11 to zero.
NEW YORK, June 01, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of JA ...
California Water Service Group (“California Water”) (CWT) today announced that it has filed definitive proxy materials with the U.S. Securities and Exchange Commission and sent a letter to SJW Group (“SJW”) (SJW) stockholders, along with a WHITE proxy card, in connection with SJW’s Special Meeting of Stockholders. California Water urges SJW stockholders to vote AGAINST the proposed merger of SJW and Connecticut Water (CTWS) using the WHITE proxy card. On April 4, 2018, California Water made a proposal to acquire SJW for $68.25 per share in cash, which exceeds SJW’s all-time high closing share price, and represents a 30% premium to SJW’s share price at the time of California Water’s proposal.
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.
“Connecticut Water announced this morning a one-sided amendment to its merger agreement with SJW Group that allows it — but not SJW — to conduct a 45-day go shop process, during which Connecticut Water can actively solicit alternative acquisition proposals from third parties.
California Water Service (CWT) files an application to the California Public Utilities Commission to lower water rates, effective Jul 1, 2018.
SAN JOSE, Calif., May 30, 2018 (GLOBE NEWSWIRE) -- (CWT) — California Water Service (Cal Water) submitted a filing with the California Public Utilities Commission (CPUC) yesterday to decrease revenue needed in its service areas by almost $18 million, due to changes in federal tax laws and CPUC-authorized capital equity and debt financing costs. Since the 2018 Tax Cuts and Jobs Act was enacted in December 2017, Cal Water has been tracking the effect of the new corporate tax rate and other tax law changes to deductions and deferred income taxes. The July 1 rate changes will reflect a decrease in the corporate tax rate from 35% to 21% as well as elimination of the Domestic Production Activities Deduction. In a later filing, Cal Water will apply a credit to customer bills to reflect the impact of all federal tax changes from Jan. 1 to June 30, 2018.