California Water (CWT): A Steady Utility Stock You Might Be Missing

California Water Service Group (NYSE:CWT) was recently included on our list of Dividend Champion vs Aristocrats: 12 Under the Radar Stocks to Buy.

California Water Service Group (NYSE:CWT) is a California-based public utility company that offers drinking water and wastewater services. The company remains committed to securing a timely and positive outcome in its 2024 California General Rate Case, recognizing its importance in supporting infrastructure investment and maintaining long-term service reliability. On a broader economic level, management believes that the company’s steady performance, reliable results driven by rate base growth, and solid dividend program present a compelling opportunity to deliver long-term value to shareholders.

In the first quarter of 2025, California Water Service Group (NYSE:CWT) reported revenue of $204 million, down 25% from the same period last year. As of March 31, 2025, the Group held $90.1 million in cash and cash equivalents, including $45.7 million in restricted funds. In addition, the Group had access to $315 million in short-term borrowing through its credit lines, available upon satisfying the borrowing requirements for both the Group and its subsidiary, California Water Service (Cal Water).

California Water Service Group (NYSE:CWT) currently offers a quarterly dividend of $0.30 per share, having raised it by 7.1% in January this year. This was the company’s 58th consecutive year of dividend growth, which makes CWT one of the best dividend stocks on our dividend champions list. The stock has a dividend yield of 2.66%, as of July 23.

While we acknowledge the potential of CWT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 13 Best Dividend Stocks to Buy Under $20 and 11 Best Halal Dividend Stocks to Buy Now

Disclosure: None.