Latest news with #CaliforniaWaterServiceGroup
Yahoo
31-05-2025
- Business
- Yahoo
California Water to Acquire Casa Loma Water and Palm Mutual Water Utility Assets
The main subsidiary of California Water Service Group (NYSE:CWT), California Water Service (Cal Water), has signed contracts to buy the water utility assets of Palm Mutual Water Company and Casa Loma Water Company. An aerial view of an expansive reservoir and surrounding landscape supplying the utility's water. Casa Loma is located three miles from Cal Water's Bakersfield Operations Center and provides service to roughly 900 residents through 248 customer connections. Palm Mutual serves 63 residential clients and is situated two miles from Cal Water's Northeast Bakersfield Treatment Plant. The approval of the California Public Utilities Commission and other closing requirements are still pending for both purchases. California Water Service Group (NYSE:CWT)'s Cal Water already has an intertie with the Casa Loma system, which enables uninterrupted water delivery following acquisition. Cal Water intends to improve system infrastructure and add new connections. Palm Mutual is currently supplied by a Cal Water master meter because it does not have its own water supply sources. Cal Water plans to improve service quality by investing in infrastructure renovations. CEO Martin A. Kropelnicki of California Water Service Group (NYSE:CWT) stressed customer safety and service excellence, commenting: 'We look forward to providing our new customers the high level of service we provide to our other Bakersfield customers.' Cal Water employs 1,200 people who are dedicated to honesty, sustainability, and infrastructure, and it provides services to 2.1 million people through around 500,000 connections. While we acknowledge the potential of CWT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CWT and that has 100x upside potential, check out our report about this READ NEXT: and . Disclosure. None.
Yahoo
30-05-2025
- Business
- Yahoo
California Water to Acquire Casa Loma Water and Palm Mutual Water Utility Assets
The main subsidiary of California Water Service Group (NYSE:CWT), California Water Service (Cal Water), has signed contracts to buy the water utility assets of Palm Mutual Water Company and Casa Loma Water Company. An aerial view of an expansive reservoir and surrounding landscape supplying the utility's water. Casa Loma is located three miles from Cal Water's Bakersfield Operations Center and provides service to roughly 900 residents through 248 customer connections. Palm Mutual serves 63 residential clients and is situated two miles from Cal Water's Northeast Bakersfield Treatment Plant. The approval of the California Public Utilities Commission and other closing requirements are still pending for both purchases. California Water Service Group (NYSE:CWT)'s Cal Water already has an intertie with the Casa Loma system, which enables uninterrupted water delivery following acquisition. Cal Water intends to improve system infrastructure and add new connections. Palm Mutual is currently supplied by a Cal Water master meter because it does not have its own water supply sources. Cal Water plans to improve service quality by investing in infrastructure renovations. CEO Martin A. Kropelnicki of California Water Service Group (NYSE:CWT) stressed customer safety and service excellence, commenting: 'We look forward to providing our new customers the high level of service we provide to our other Bakersfield customers.' Cal Water employs 1,200 people who are dedicated to honesty, sustainability, and infrastructure, and it provides services to 2.1 million people through around 500,000 connections. While we acknowledge the potential of CWT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CWT and that has 100x upside potential, check out our report about this READ NEXT: and . Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
California Water Service Group Details Progress to Reduce Environmental Footprint, Enhance Corporate Citizenship in 2024 Sustainability Report
SAN JOSE, Calif., May 12, 2025 (GLOBE NEWSWIRE) -- In its 2024 Sustainability Report and Analyst Download published today, California Water Service Group (Group) (NYSE: CWT) highlights recent and ongoing emissions reductions, water quality and infrastructure investments, employee development opportunities, corporate responsibility efforts, and more. The 2024 Sustainability Report showcases progress made in Group's four key focus areas, including:Protecting the planet Reducing Scope 1 and 2 greenhouse gas emissions by 23.5% over base year 2021. Spending almost $3 million on emissions-reducing energy solutions, such as LED lighting retrofits, EV charger installations, and new HVAC controls. Achieving a B- on both its second annual CDP Climate Questionnaire and first annual Water Questionnaire. Serving customers Conducting more than 615,000 water quality tests and achieving 100% compliance with primary and secondary federal and state water quality standards. Donating more than $1.1 million to local community organizations, including over $175,000 through its annual Firefighter Grant Program. Investing in wildfire-hardening projects, such as additional pipelines, pumps, and emergency generators, to better position the company during fires. Engaging the workforce Investing more than $815,000 in employee training and continuing education for an average of 16 hours of training per employee in 2024, 17% more training hours than last year. Launching Group's Career Pathways program, which outlines specific training, experience, and education recommended for advancement within the company. Rolling out CEO town halls and quarterly leadership visits to all subsidiaries and California districts to share information and obtain feedback from employees. Governing with integrity Continuing to refine its supplier risk management program to maintain a strong, principled supply chain. Discussing environmental, social, and governance-related matters throughout the year with the Board of Directors and at committee meetings. Sourcing high-quality products and services through its Supplier Diversity Program. 'We believe our purpose is to enhance the quality of life for our customers, communities, employees, and stockholders, and we couldn't fulfill this purpose without a strong focus on sustainability and corporate citizenship,' said Martin A. Kropelnicki, Chairman and CEO. 'We hold ourselves accountable to continuing to progress in our key focus areas and transparently reporting our achievements and metrics each year.' Group's Sustainability Report is aligned with the Sustainability Accounting Standards Board (SASB) Water Utilities & Services Industry Standards, the Recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), and the Global Reporting Initiative (GRI) Standards. Key data and metrics are further detailed in the supplemental Analyst Download. About California Water Service GroupCalifornia Water Service Group (NYSE: CWT) is the largest regulated water utility in the western United States. It provides high-quality, reliable water and/or wastewater services to more than 2.1 million people in California, Hawaii, New Mexico, Washington, and Texas through its regulated subsidiaries, California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, and its utility holding company, Texas Water Service. Group's purpose is to enhance the quality of life for customers, communities, employees, and stockholders. To do so, it invests responsibly in water and wastewater infrastructure, sustainability initiatives, and community well-being. The company's nearly 1,300 employees live by a set of strong core values and share a commitment to protecting the planet, caring for people, and operating with the utmost integrity. The company has been named one of 'America's Most Responsible Companies' and the 'World's Most Trustworthy Companies' by Newsweek, a USA Top Workplace, and a Great Place to Work®. More information is available at This news release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 (PSLRA). The forward-looking statements are intended to qualify under provisions of the federal securities laws for "safe harbor" treatment established by the PSLRA. Forward-looking statements in this news release are aspirational and based on currently available information, expectations, estimates, assumptions and projections, and our management's beliefs, assumptions, judgments and expectations about us, the water utility industry and general economic conditions. These statements are not statements of historical fact. When used in our documents, statements that are not historical in nature, including words like will, would, expects, intends, plans, believes, may, could, estimates, assumes, anticipates, projects, progress, predicts, hopes, targets, forecasts, should, seeks, commits, maintains or variations of these words or similar expressions are intended to identify forward-looking statements. Forward-looking statements include our objectives, commitments, goals, targets, progress, or expectations with respect to ESG matters. Forward-looking statements are not guarantees of future performance. They are based on numerous assumptions that we believe are reasonable but are subject to uncertainty and risks. Actual results or outcomes may vary materially from what is contained in a forward-looking statement. Factors, uncertainties, and assumptions that may cause actual results or outcomes to be different than those expected or anticipated include limitations on our ability to make ESG investments without the support of our regulators, including the California Public Utilities Commission, changes in federal and state governmental and regulatory priorities and policies, and evolving stakeholder expectations and legal and regulatory requirements, as well as the factors described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other reports filed from time-to-time with the Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. We are not under any obligation, and we expressly disclaim any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. We may determine to adjust any objectives, goals, and targets or establish new ones to reflect changes in our business. Media ContactYvonne Kingmanykingman@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
California Water Service Group Details Progress to Reduce Environmental Footprint, Enhance Corporate Citizenship in 2024 Sustainability Report
SAN JOSE, Calif., May 12, 2025 (GLOBE NEWSWIRE) -- In its 2024 Sustainability Report and Analyst Download published today, California Water Service Group (Group) (NYSE: CWT) highlights recent and ongoing emissions reductions, water quality and infrastructure investments, employee development opportunities, corporate responsibility efforts, and more. The 2024 Sustainability Report showcases progress made in Group's four key focus areas, including:Protecting the planet Reducing Scope 1 and 2 greenhouse gas emissions by 23.5% over base year 2021. Spending almost $3 million on emissions-reducing energy solutions, such as LED lighting retrofits, EV charger installations, and new HVAC controls. Achieving a B- on both its second annual CDP Climate Questionnaire and first annual Water Questionnaire. Serving customers Conducting more than 615,000 water quality tests and achieving 100% compliance with primary and secondary federal and state water quality standards. Donating more than $1.1 million to local community organizations, including over $175,000 through its annual Firefighter Grant Program. Investing in wildfire-hardening projects, such as additional pipelines, pumps, and emergency generators, to better position the company during fires. Engaging the workforce Investing more than $815,000 in employee training and continuing education for an average of 16 hours of training per employee in 2024, 17% more training hours than last year. Launching Group's Career Pathways program, which outlines specific training, experience, and education recommended for advancement within the company. Rolling out CEO town halls and quarterly leadership visits to all subsidiaries and California districts to share information and obtain feedback from employees. Governing with integrity Continuing to refine its supplier risk management program to maintain a strong, principled supply chain. Discussing environmental, social, and governance-related matters throughout the year with the Board of Directors and at committee meetings. Sourcing high-quality products and services through its Supplier Diversity Program. 'We believe our purpose is to enhance the quality of life for our customers, communities, employees, and stockholders, and we couldn't fulfill this purpose without a strong focus on sustainability and corporate citizenship,' said Martin A. Kropelnicki, Chairman and CEO. 'We hold ourselves accountable to continuing to progress in our key focus areas and transparently reporting our achievements and metrics each year.' Group's Sustainability Report is aligned with the Sustainability Accounting Standards Board (SASB) Water Utilities & Services Industry Standards, the Recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD), and the Global Reporting Initiative (GRI) Standards. Key data and metrics are further detailed in the supplemental Analyst Download. About California Water Service GroupCalifornia Water Service Group (NYSE: CWT) is the largest regulated water utility in the western United States. It provides high-quality, reliable water and/or wastewater services to more than 2.1 million people in California, Hawaii, New Mexico, Washington, and Texas through its regulated subsidiaries, California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, and its utility holding company, Texas Water Service. Group's purpose is to enhance the quality of life for customers, communities, employees, and stockholders. To do so, it invests responsibly in water and wastewater infrastructure, sustainability initiatives, and community well-being. The company's nearly 1,300 employees live by a set of strong core values and share a commitment to protecting the planet, caring for people, and operating with the utmost integrity. The company has been named one of 'America's Most Responsible Companies' and the 'World's Most Trustworthy Companies' by Newsweek, a USA Top Workplace, and a Great Place to Work®. More information is available at This news release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 (PSLRA). The forward-looking statements are intended to qualify under provisions of the federal securities laws for "safe harbor" treatment established by the PSLRA. Forward-looking statements in this news release are aspirational and based on currently available information, expectations, estimates, assumptions and projections, and our management's beliefs, assumptions, judgments and expectations about us, the water utility industry and general economic conditions. These statements are not statements of historical fact. When used in our documents, statements that are not historical in nature, including words like will, would, expects, intends, plans, believes, may, could, estimates, assumes, anticipates, projects, progress, predicts, hopes, targets, forecasts, should, seeks, commits, maintains or variations of these words or similar expressions are intended to identify forward-looking statements. Forward-looking statements include our objectives, commitments, goals, targets, progress, or expectations with respect to ESG matters. Forward-looking statements are not guarantees of future performance. They are based on numerous assumptions that we believe are reasonable but are subject to uncertainty and risks. Actual results or outcomes may vary materially from what is contained in a forward-looking statement. Factors, uncertainties, and assumptions that may cause actual results or outcomes to be different than those expected or anticipated include limitations on our ability to make ESG investments without the support of our regulators, including the California Public Utilities Commission, changes in federal and state governmental and regulatory priorities and policies, and evolving stakeholder expectations and legal and regulatory requirements, as well as the factors described in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and other reports filed from time-to-time with the Securities and Exchange Commission. In light of these risks, uncertainties and assumptions, investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this news release. We are not under any obligation, and we expressly disclaim any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. We may determine to adjust any objectives, goals, and targets or establish new ones to reflect changes in our business. Media ContactYvonne Kingmanykingman@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-04-2025
- Business
- Yahoo
California Water Service Group (CWT): Among the Best Dividend Kings to Buy for Safe Dividend Growth
We recently published a list of the 12 Best Dividend Kings to Buy For Safe Dividend Growth. In this article, we are going to take a look at where California Water Service Group (NYSE:CWT) stands against other best dividend kings. The importance of dividend stocks cannot be denied, even in today's market environment, which is dominated by AI stocks. The S&P Dividend Aristocrats Index, which tracks the performance of companies with at least 25 consecutive years, is down by over 4% since the start of 2025, compared with a much harsher decline of 13% in the broader market. Dividend stocks become increasingly popular when companies grow their payouts regularly. Historically, dividend growth stocks have performed better than their peers and have shown less volatility. The dividend growth track records, backed by solid fundamentals, offer reliable investment options to income investors. According to a report by Nuveen, dividend growth stocks have outperformed other asset classes with less risk. The report revealed that companies with strong dividend growth streaks delivered an annual average return of over 10% between 1973 to 2024, as compared to a 4.2% return of non-dividend paying stocks. During this period, dividend cutters delivered a nearly -2% return. Though dividend stocks also do not come with a promise and can also fluctuate, these stocks have made significant contributions to the market's overall return over the decades. According to a report by Hartford Funds, dividends and reinvested dividends represented nearly 40% of the market's return from 1930 to 2024, with capital appreciation making up the rest. The report also highlighted their significance when the economy was in the trenches. The data mentioned that during the 1940s, 1960s, and 1970s, the total returns were lower than 10%, however, dividends represented a larger portion of the market's performance. According to Jerome Powell, inflation in the US is likely to ramp up because of the President's sweeping tariffs. Here are some comments from Powell: 'We face a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation. While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent.' While this presents an overall uncertain environment for an investment landscape, dividend investors are in the catbird seat, as dividend stocks have historically been successful in protecting capital against inflation. WisdomTree reported that from 1957 through 2023, dividends have grown by an average of 5.7%, compared with a 3.67% growth in inflation. The report also mentioned that over the past 68 years, dividend payouts have only decreased in six years, and in just one of those years, they dropped by more than 5%. In comparison, stock prices experienced declines in 18 years during the same period, with the worst drop exceeding 40% and an average decline of more than 11%. Stock prices have proven to be more than twice as volatile as the underlying dividend cash flows. This is because market sentiment often causes short-term fluctuations in stock prices, whereas dividend cash flows, which reflect the company's long-term value, are less volatile. Given this, we will take a look at some of the best dividend kings for safe dividend growth. An aerial view of an expansive reservoir and surrounding landscape supplying the utility's water. For this article, we scanned the list of dividend kings, which are the companies that have raised their payouts for 50 years or more. From that list, we picked 12 companies with the highest 5-year annual average dividend growth rates. The stocks are ranked in ascending order of their annual average dividend growth in the past five years. At Insider Monkey, we are obsessed with hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). 5-Year Average Annual Dividend Growth Rate: 7.21% California Water Service Group (NYSE:CWT) is an American public utility company, headquartered in California. The company offers drinking water and wastewater services. In Q4 2024, the company reported revenue exceeding $222 million, marking a 4% increase compared to the same period a year earlier. This growth was supported by higher rates, which added $24.2 million to the top line. A key highlight for the quarter was the submission of the 2024 California General Rate Case (GRC), outlining planned investments to support a reliable and sustainable water supply for customers. Operating expenses rose to $189.9 million, up $10.6 million from $179.3 million in the prior-year quarter. The cost of water production increased by $3.4 million to $73.7 million, mainly due to higher wholesale rates and greater consumption. California Water Service Group (NYSE:CWT) continues to demonstrate financial strength and a commitment to shareholder returns. On January 29, the company announced a 7.1% increase to its quarterly dividend, raising it to $0.30 per share. This was the company's 58th consecutive year of dividend growth, which makes it one of the best dividend kings on our list. In the past five years, the company has raised its payouts at an annual average rate of 7.21%. As of April 4, the stock has a dividend yield of 2.48%. Overall, CWT ranks 10th on our list of the best dividend kings for safe dividend growth. While we acknowledge the potential of CWT as an investment, our conviction lies in the belief that some deeply undervalued dividend stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for a deeply undervalued dividend stock that is more promising than CWT but that trades at 10 times its earnings and grows its earnings at double digit rates annually, check out our report about the . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at . Sign in to access your portfolio
