SJW Group (NYSE:SJW) Receives Average Rating of “Hold” from Analysts

SJW Group (NYSE:SJW) has received an average rating of “Hold” from the three research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $63.00.

A number of brokerages recently commented on SJW. Wells Fargo & Company reduced their price objective on shares of SJW Group from $63.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. StockNews.com cut SJW Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Finally, Bank of America began coverage on SJW Group in a research note on Friday, September 20th. They issued a “neutral” rating and a $65.00 target price on the stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its holdings in SJW Group by 8.8% in the second quarter. Raymond James & Associates now owns 113,852 shares of the utilities provider’s stock worth $6,173,000 after acquiring an additional 9,165 shares in the last quarter. Louisiana State Employees Retirement System grew its position in SJW Group by 2.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the utilities provider’s stock worth $802,000 after purchasing an additional 400 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of SJW Group by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 339,990 shares of the utilities provider’s stock worth $18,434,000 after buying an additional 4,357 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of SJW Group by 6.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 41,414 shares of the utilities provider’s stock worth $2,245,000 after buying an additional 2,667 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of SJW Group by 144.6% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 64,359 shares of the utilities provider’s stock valued at $3,490,000 after buying an additional 38,044 shares during the last quarter. 84.29% of the stock is currently owned by hedge funds and other institutional investors.

SJW Group Trading Down 1.2 %

NYSE SJW opened at $49.38 on Friday. SJW Group has a one year low of $48.83 and a one year high of $66.41. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 3.26 and a beta of 0.62. The company’s 50-day simple moving average is $54.37 and its two-hundred day simple moving average is $56.43.

SJW Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend was Monday, November 4th. SJW Group’s payout ratio is presently 57.97%.

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.