SJW Group (NYSE:SJW) Price Target Cut to $61.00 by Analysts at Wells Fargo & Company

SJW Group (NYSE:SJW) had its price objective cut by Wells Fargo & Company from $63.00 to $61.00 in a report released on Tuesday, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Separately, Bank of America began coverage on SJW Group in a research report on Friday, September 20th. They set a “neutral” rating and a $65.00 price target on the stock.

SJW Group Trading Down 1.4 %

Shares of SJW opened at $54.87 on Tuesday. SJW Group has a 12-month low of $51.17 and a 12-month high of $70.43. The company has a quick ratio of 0.49, a current ratio of 0.77 and a debt-to-equity ratio of 1.25. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 3.36 and a beta of 0.62. The stock’s 50-day moving average price is $58.25 and its 200 day moving average price is $56.92.

SJW Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Monday, November 4th. SJW Group’s dividend payout ratio (DPR) is currently 57.97%.

Institutional Trading of SJW Group

Several hedge funds have recently added to or reduced their stakes in SJW. State Board of Administration of Florida Retirement System grew its holdings in shares of SJW Group by 133.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,303 shares of the utilities provider’s stock valued at $1,206,000 after acquiring an additional 12,182 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of SJW Group by 26.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 164,099 shares of the utilities provider’s stock valued at $8,897,000 after acquiring an additional 34,607 shares in the last quarter. ProShare Advisors LLC lifted its stake in SJW Group by 16.2% in the 1st quarter. ProShare Advisors LLC now owns 142,844 shares of the utilities provider’s stock valued at $8,084,000 after purchasing an additional 19,925 shares during the last quarter. Vanguard Group Inc. lifted its stake in SJW Group by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 2,465,745 shares of the utilities provider’s stock valued at $161,136,000 after purchasing an additional 78,289 shares during the last quarter. Finally, Boston Partners acquired a new stake in SJW Group in the 1st quarter valued at about $597,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

SJW Group Company Profile

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.