Cal Water Secures CPUC Approval for Palm Mutual Acquisition Serving 63 Customers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 11 2025
0mins
Source: Globenewswire
- Acquisition Approval: California Water Service has received CPUC approval for its acquisition of Palm Mutual, which currently serves 63 residential customers, marking a significant step in expanding Cal Water's customer base.
- Infrastructure Upgrades: Cal Water plans to gradually upgrade Palm Mutual's infrastructure to ensure consistent and high-quality water service for customers, thereby enhancing customer satisfaction and the company's reputation.
- Customer Integration: Upon completion of the acquisition, Palm Mutual customers will be integrated into Cal Water's Bakersfield District, which currently serves approximately 445,600 people, further strengthening the company's market position.
- Future Outlook: The acquisition is expected to close in the first quarter of 2026, subject to customary closing conditions, demonstrating Cal Water's ongoing investment in the water utility sector and commitment to customer service.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy CWT?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on CWT
Wall Street analysts forecast CWT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CWT is 53.00 USD with a low forecast of 51.00 USD and a high forecast of 55.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 43.620
Low
51.00
Averages
53.00
High
55.00
Current: 43.620
Low
51.00
Averages
53.00
High
55.00
About CWT
California Water Service Group is a holding company that provides water utility and other related services in California, Washington, New Mexico, Hawaii and Texas through its subsidiaries. Its business is conducted through its operating subsidiaries and provides utility services. Its business consists of the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, and the provision of domestic and municipal fire protection services. It provides wastewater collection and treatment services, including treatment which allows water recycling. It also provides non-regulated water-related services under agreements with municipalities and other private companies. The non-regulated services include full water system operation, meter reading, and billing services. Non-regulated operations also include the lease of communication antenna sites, lab services and promotion of other non-regulated services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
California Water Service Group Celebrates 100 Years of Service
- Centennial Celebration: California Water Service Group plans a year-long celebration to commemorate its 100th anniversary, highlighting its historical legacy as a foundation for future success.
- Service Expansion: Since its founding in 1926, the company has grown from serving four communities to providing services to over 2.1 million residents across California, Hawaii, New Mexico, Texas, and Washington, making it the third-largest publicly traded water utility in the U.S.
- Corporate Mission: The company is committed to enhancing the quality of life for customers, communities, employees, and shareholders by responsibly investing in water infrastructure and sustainability initiatives, reflecting its role as the largest regulated water utility in the western United States.
- Honor Recognition: California Water Service Group has been recognized as one of
Continue Reading
California Water Service Group Acquires Full Ownership of BVRT Utility Holding Company
- Acquisition Expansion: California Water Service Group, through its subsidiary Texas Water, plans to acquire the remaining membership interests of BVRT, becoming the sole owner of its seven water and wastewater utilities in the Austin-San Antonio corridor, which is expected to enhance its market position significantly.
- Infrastructure Investment: BVRT continues to expand its Texas footprint by building and enhancing water and wastewater infrastructure, which is anticipated to support future customer connections and cater to the region's rapid growth.
- Strategic Integration: The Group plans to file a change of control application with the Texas Public Utilities Commission, and upon completion of the acquisition, it aims to better integrate the BVRT team, thereby improving operational efficiency and service quality.
- Customer Service Enhancement: The Camino Real subsidiary has been granted a water certificate of convenience and necessity, which is expected to serve future customer connections within nearly 230 acres, further solidifying its service capabilities in rapidly growing communities.
Continue Reading