California Water Service Group CWT, through its subsidiaries, provides water utility and other related services to customers in the United States. The company continues to expand operations in the Western United States through organic and inorganic initiatives.This Zacks Rank #2 (Buy) stock is a promising bet at the moment, as strong capital investment plans to strengthen water and wastewater facilities are anticipated to drive its performance over the long run. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Growth ProjectionsThe Zacks Consensus Estimate for 2021 earnings per share is pegged at $1.79, which has moved up 2.9% in the past 60 days.The consensus mark for 2022 earnings has moved up 1.6% in the past 60 days to $1.85 per share.Surprise History and Dividend YieldCalifornia Water Service’s trailing four-quarter earnings surprise is 15.4%, on average.Its dividend yield is currently pegged at 1.51%, which is much better than the S&P 500 group’s average of 1.39%.Regular InvestmentsAfter investing nearly $298.7 million in 2020, it is planning a net investment of $270-$300 million for 2021. In July, the California Water Service unit filed an application with the California Public Service Commission, seeking approval for the 2022-2024 infrastructure improvement program, which contains new rate designs. Per this, it aims to invest $1.02 billion in the aforesaid time period.The regular investments are enabling the company to strengthen the existing infrastructure and serve its expanding customers more efficiently. The customer base has increased 4.3% year over year in 2020.Return on Equity (ROE)ROE is a measure of a company’s financial performance and shows how it is utilizing its funds. California Water Service’s ROE is currently pegged at 15.71%, better than the industry average of 10.56%, which indicates that the company is utilizing its funds more efficiently than peers.Price PerformanceOver the past six months, the stock has returned 13%, outperforming the industry 3.7% growth.Image Source: Zacks Investment ResearchOther Stocks to ConsiderOther top-ranked stocks in the same sector include Exelon Corporation EXC, Otter Tail Corporation OTTR and Middlesex Water Company MSEX. Middlesex Water Company currently has a Zacks Rank #2, while the other two stocks sport a Zacks Rank #1.Exelon, Otter Tail, and Middlesex Water delivered an earnings surprise of 27.1%, 83.7% and 5.1%, respectively, in the last reported quarter.The Zacks Consensus Estimate for 2021 earnings per share of Exelon, Otter Tail, and Middlesex Water has moved up 0.1%, 39.2%, and 3.7%, respectively, in the past 60 days. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Exelon Corporation (EXC): Free Stock Analysis Report California Water Service Group (CWT): Free Stock Analysis Report Otter Tail Corporation (OTTR): Free Stock Analysis Report Middlesex Water Company (MSEX): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research