Breaking News Instant updates and real-time market news.

SJW

SJW Corp.

$70.56

0.75 (1.07%)

, CTWS

Connecticut Water

$69.98

-0.02 (-0.03%)

16:12
10/09/19
10/09
16:12
10/09/19
16:12

SJW Corp., Connecticut Water announce close of merger

SJW Corp. (SJW) and Connecticut Water (CTWS) announced the close of their merger. The combined company, SJW Group, is the third-largest investor-owned pure play water and wastewater utility based on rate base in the United States, serving nearly 1.5M people across California, Connecticut, Maine and Texas. In connection with the closing of the transaction, Connecticut Water is now a wholly owned subsidiary of SJW Group, and Connecticut Water's common shares have ceased trading on Nasdaq stock exchange. The closing provides a balance sheet that enhances SJW Group's financial flexibility to increase sustained growth in its operating utilities' rate bases, continue investments in all of its water systems and create a stable utility enterprise. The company expects high single-digit percentage EPS accretion in 2021 after a neutral to slightly dilutive EPS impact in 2020. The completion of the transaction follows the satisfaction of all customary closing conditions, including having received approval of the merger by Connecticut Water's shareholders, and regulatory approval by the Connecticut Public Utilities Regulatory Authority and the Maine Public Utilities Commission. SJW Group will maintain its headquarters in San Jose, California, with its New England regional headquarters in Clinton, Connecticut. The parent company of the Connecticut and Maine utility operating subsidiaries will retain the name of Connecticut Water Service.Each of the regional utility operating subsidiaries will continue to serve customers under their existing brand names with their local employee teams at their existing operating centers. Eric Thornburg is chairman, president and CEO of SJW Group and chairman and CEO of San Jose Water Company and SJWTX.

SJW

SJW Corp.

$70.56

0.75 (1.07%)

CTWS

Connecticut Water

$69.98

-0.02 (-0.03%)

SJW SJW Corp.
$70.56

0.75 (1.07%)

04/25/19
EVER
04/25/19
DOWNGRADE
EVER
In Line
SJW Corp. downgraded to In Line from Outperform at Evercore ISI
05/15/19
UBSW
05/15/19
INITIATION
Target $64
UBSW
Neutral
SJW Corp. initiated with a Neutral at UBS
UBS analyst Dan Ford initiated SJW Corp (SJW) with a Neutral rating and a price target of $64, saying the stock is "fairly valued" whether its proposed merger with Connecticut Water Service (CTWS) goes through or not. The analyst notes that the "fits and starts" around the combination discussions, along with the uncertain outcome of the regulatory review, have resulted in the market pricing in appropriately "little expectation for an accretive outcome." Ford adds that the merger would likely yield only "modest accretion" in its early years rather than the "high single digit" percent accretion modeled by the company.
10/07/19
MACQ
10/07/19
INITIATION
Target $79
MACQ
Outperform
SJW Corp. initiated with an Outperform rating at Macquarie
Macquarie analyst Angie Storozynski initiated coverage of SJW Corp. with an Outperform rating and $79 price target. The company's larger scale could facilitate future acquisitions of water and wastewater systems, while the diversification away from California could make SJW's earnings less volatile, Storozynski tells investors in a research note. Further, the analyst believes SJW's stock could see a "meaningful improvement" in its trading liquidity.
10/07/19
10/07/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. SmileDirectClub (SDC) initiated with an Outperform at Credit Suisse and William Blair, an Overweight rating at JPMorgan, and a Buy at Loop Capital, Citi, Jefferies, BTIG, Guggenheim, BofA/Merrill, and Stifel. 2. SJW Corp. (SJW) initiated with an Outperform rating at Macquarie. 3. FleetCor (FLT) initiated with a Sector Perform at RBC Capital. 4. Gladstone Land (LAND) initiated with a Buy rating at Aegis. 5. Sutro Biopharma (STRO) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
CTWS Connecticut Water
$69.98

-0.02 (-0.03%)

01/10/19
WELS
01/10/19
INITIATION
Target $66
WELS
Market Perform
Connecticut Water resumed with a Market Perform at Wells Fargo
Wells Fargo analyst Jonathan Reeder resumed coverage of Connecticut Water (CTWS) with a Market Perform rating and a price target of $66, saying he is positive on the company's "low risk" and strategy, forecasting earnings growth that is consistent with that of the water utility industry average. Reeded adds that while there is some chance that Connecticut Water's merger with SJW (SJW) will fall apart on regulatory concerns, he believes that its stock price should be supported by the company's standalone value.

TODAY'S FREE FLY STORIES

WE

We Company

$0.00

(0.00%)

, SFTBF

SoftBank

$0.00

(0.00%)

15:42
10/21/19
10/21
15:42
10/21/19
15:42
Periodicals
SoftBank near deal to take control of WeWork, CNBC reports »

Softbank (SFTBF) is near…

WE

We Company

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

FTR

Frontier Communications

$1.02

0.01 (1.00%)

15:38
10/21/19
10/21
15:38
10/21/19
15:38
Hot Stocks
Frontier reports tentative agreement with CWA in Connecticut »

Frontier Communications…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 05

    Nov

LOGI

Logitech

$40.77

0.71 (1.77%)

15:34
10/21/19
10/21
15:34
10/21/19
15:34
Options
Logitech options imply 8.8% move in share price post-earnings »

Pre-earnings options…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Oct

  • 04

    Nov

  • 05

    Nov

PCG

PG&E

$8.07

0.3 (3.86%)

15:20
10/21/19
10/21
15:20
10/21/19
15:20
Periodicals
San Jose would like to see PG&E become electric and gas cooperative, WSJ says »

San Jose is proposing to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 10

    Nov

  • 10

    Nov

  • 12

    Nov

  • 07

    Jan

ZION

Zions Bancorp

$45.51

0.79 (1.77%)

15:19
10/21/19
10/21
15:19
10/21/19
15:19
Options
Zions Bancorp options imply 4.0% move in share price post-earnings »

Pre-earnings options…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 21

    Oct

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
10/21/19
10/21
15:17
10/21/19
15:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

PCG

PG&E

$8.06

0.29 (3.73%)

15:16
10/21/19
10/21
15:16
10/21/19
15:16
Periodicals
San Jose proposes PG&E be customer-owned, likely to face opposition, WSJ says »

San Jose, the largest…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 10

    Nov

  • 10

    Nov

  • 12

    Nov

  • 07

    Jan

$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
10/21/19
10/21
15:16
10/21/19
15:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

COTY

Coty

$11.47

1.345 (13.29%)

15:06
10/21/19
10/21
15:06
10/21/19
15:06
Recommendations
Coty analyst commentary  »

Coty price target raised…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 05

    Nov

  • 06

    Nov

  • 12

    Nov

MCD

McDonald's

$210.35

1.87 (0.90%)

, UBER

Uber

$31.31

-0.73 (-2.28%)

15:05
10/21/19
10/21
15:05
10/21/19
15:05
Earnings
Fly Intel: What to watch in McDonald's earnings report »

McDonald's (MCD) is…

MCD

McDonald's

$210.35

1.87 (0.90%)

UBER

Uber

$31.31

-0.73 (-2.28%)

GRUB

GrubHub

$56.13

0.33 (0.59%)

BYND

Beyond Meat

$110.06

0.13 (0.12%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Oct

  • 28

    Oct

  • 29

    Oct

  • 04

    Nov

  • 12

    Nov

  • 19

    Nov

  • 21

    Nov

  • 04

    Dec

CDNS

Cadence Design

$66.25

0.65 (0.99%)

15:04
10/21/19
10/21
15:04
10/21/19
15:04
Options
Cadence Design options imply 7.9% move in share price post-earnings »

Pre-earnings options…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 21

    Oct

  • 06

    Nov

  • 19

    Nov

TEVA

Teva

$8.12

0.62 (8.27%)

15:02
10/21/19
10/21
15:02
10/21/19
15:02
Periodicals
Plaintiff attorneys say Teva settlement looks same as rejected bid, CNBC says »

CNBC's Meg Tirrell…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    Nov

  • 07

    Dec

VRTX

Vertex

$176.97

0.73 (0.41%)

14:59
10/21/19
10/21
14:59
10/21/19
14:59
Hot Stocks
Breaking Hot Stocks news story on Vertex »

Vertex trading halted,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Mar

VRTX

Vertex

$177.18

0.94 (0.53%)

14:55
10/21/19
10/21
14:55
10/21/19
14:55
Hot Stocks
FDA approves Vertex Pharmaceuticals' Trikafta for cystic fibrosis »

The U.S. Food and Drug…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Mar

ELY

Callaway Golf

$20.78

-0.01 (-0.05%)

14:52
10/21/19
10/21
14:52
10/21/19
14:52
Hot Stocks
Callaway Golf announces multi-year partnership with Stephen Curry »

Stephen Curry has entered…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 24

    Oct

LII

Lennox

$249.37

-3.84 (-1.52%)

14:49
10/21/19
10/21
14:49
10/21/19
14:49
Recommendations
Lennox analyst commentary  »

Lennox Q3 earnings…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 21

    Oct

  • 13

    Nov

AMTD

TD Ameritrade

$37.72

0.93 (2.53%)

14:49
10/21/19
10/21
14:49
10/21/19
14:49
Options
TD Ameritrade options imply 8.6% move in share price post-earnings »

Pre-earnings options…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Oct

NFLX

Netflix

$275.83

0.43 (0.16%)

14:45
10/21/19
10/21
14:45
10/21/19
14:45
Periodicals
Netflix may begin crackdown on password sharing, NY Post says »

The NY Post's …

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 29

    Oct

  • 21

    Nov

BCE

BCE

$49.00

0.13 (0.27%)

, RCI

Rogers Communications

$50.41

0.68 (1.37%)

14:38
10/21/19
10/21
14:38
10/21/19
14:38
Periodicals
CIB considered public utility to compete with Bell, Rogers, Telus, Logic says »

The Canada Infrastructure…

BCE

BCE

$49.00

0.13 (0.27%)

RCI

Rogers Communications

$50.41

0.68 (1.37%)

TU

Telus

$36.64

0.31 (0.85%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Oct

  • 31

    Oct

TER

Teradyne

$59.96

1.05 (1.78%)

14:35
10/21/19
10/21
14:35
10/21/19
14:35
Options
Teradyne put volume heavy and directionally bearish »

Bearish flow noted in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Oct

  • 31

    Oct

14:35
10/21/19
10/21
14:35
10/21/19
14:35
General news
Treasury Action: supply kicks off Tuesday with the $40 B 2-year auction »

Treasury Action: supply…

I

Intelsat

$25.44

-1.03 (-3.89%)

14:32
10/21/19
10/21
14:32
10/21/19
14:32
Hot Stocks
Eutelsat tells FCC payment to Treasury shouldn't be over 50%, Bloomberg says »

Eutelsat executives, in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 29

    Oct

BA

Boeing

$329.63

-14.46 (-4.20%)

14:27
10/21/19
10/21
14:27
10/21/19
14:27
Periodicals
EASA sees Boeing 737 MAX being cleared in January 'at earliest,' Reuters says »

The head of Europe's…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Oct

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
10/21/19
10/21
14:17
10/21/19
14:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
10/21/19
10/21
14:16
10/21/19
14:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.