41.45 0.00 (0.00%)
After hours: 5:02PM EDT
|Bid||39.10 x 800|
|Ask||0.00 x 1800|
|Day's Range||41.35 - 41.80|
|52 Week Range||35.25 - 46.15|
|PE Ratio (TTM)||34.34|
|Earnings Date||Oct 24, 2018 - Oct 29, 2018|
|Forward Dividend & Yield||0.75 (1.81%)|
|1y Target Est||39.00|
California Water Service Group (“California Water”) (CWT) today announced that it has withdrawn its revised proposal to acquire SJW Group (“SJW”) (SJW) for $70.00 per share in cash after it was rejected by the SJW Board. California Water will also terminate its tender offer to acquire all outstanding shares of SJW common stock. “California Water is financially disciplined, and after repeated attempts to engage with the SJW Board of Directors, we believe it is in our stockholders’ best interests to withdraw our proposal and focus on other opportunities,” said Martin A. Kropelnicki, President and CEO of California Water.
SJW Group has rejected the latest takeover offer from California Water Service Group , SJW's chief executive officer told Reuters on Friday, as it remains focused on completing its acquisition of Connecticut Water Service Inc. CalWater announced late on Monday a revised all-cash proposal to acquire San Jose-based SJW for $70 per share, valuing it at around $1.45 billion, having had a lower bid rejected in April. "The board, after careful review with our advisers and management, decided to stay the course with Connecticut Water, as we believe in the power of the deal which we have," SJW CEO Eric Thornburg told Reuters in an interview.
California Water Service Group said on Monday it raised an all-cash offer to buy SJW Group by nearly 3 percent, the latest attempt to woo its fellow California utility out of a proposed tie-up with Connecticut Water Service Inc. CalWater's new offer for SJW of $70 per share, detailed in a market filing, represents a premium of 12 percent to the stock's Monday close and values the company at about $1.45 billion. CalWater also offered to consider alternative transaction structures - details of which were not disclosed in the statement - as well as an additional $0.50 per share for every quarter the deal was delayed by regulatory approval beyond a set timetable.
California Water Service Group (“California Water”) (CWT) today announced it has submitted a revised proposal to the Board of Directors of SJW Group (“SJW”) (SJW) increasing its proposal to acquire SJW from $68.25 per share in cash to $70.00 per share in cash. California Water’s revised proposal, which exceeds SJW’s all-time high closing share price, represents a 33.6% premium to SJW’s closing share price on the final trading day prior to California Water’s April 4, 2018 proposal.
According to Cal Water, water quality was unaffected by the fire and evacuation, because it was able to send crews in to keep the water treatment plant fully operational. Although challenging, this was necessary not just to maintain quality for when customers returned, but also to ensure that firefighters had adequate water supplies for fire suppression activities before and during the evacuation. Cal Water employees from around the state volunteered to assist in 24/7 operations to keep the water flowing.
California Water Service (Cal Water), the largest subsidiary of California Water Service Group (CWT), announced today that it has entered into an Operations & Maintenance agreement with Tesoro Viejo Development, Inc. to operate the water, wastewater, recycled water, storm water, and agricultural water systems serving the Tesoro Viejo development in Madera County, Calif., a mixed-use master-planned community that is approved for up to 5,190 residential units and approximately 3 million square feet of commercial and retail space, as well as parks, schools, and light industrial operations. In addition to operations and maintenance services, Cal Water will provide customer service and oversee the installation of various capital improvements needed to expand the utility systems. Construction at the development is ongoing, with a school to be completed soon and homes ready for occupancy in the latter half of 2018 or early in 2019.
On a per-share basis, the San Jose, California-based company said it had net income of 27 cents. The water utility posted revenue of $172.6 million in the period. California Water Service Group shares ...
SAN JOSE, Calif., July 26, 2018-- California Water Service Group today announced net income of $13.0 million or $0.27 earnings per diluted common share for the second quarter of 2018, compared to net income ...
California Water Service Group is the parent company of California Water Service, Washington Water Service, New Mexico Water Service, Hawaii Water Service, Inc., CWS Utility Services, and HWS Utility Services. Together, these companies provide regulated and non-regulated water service to approximately 2 million people in more than 100 California, Washington, New Mexico, and Hawaii communities.
California Water Service Group (CWT) (“California Water”) announced today it is extending the expiration time of its tender offer for shares of SJW Group (SJW) (“SJW”) from 5:00 p.m., New York City time, on August 3, 2018 to 5:00 p.m., New York City time, on September 28, 2018. The extension is driven by SJW’s delay in calling its special meeting of stockholders to vote on the merger with Connecticut Water Service, Inc. (“Connecticut Water”). California Water commenced the all-cash tender offer to acquire all outstanding shares of SJW for $68.25 on June 7, 2018.
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 ...