Wells Fargo & Company Cuts SJW Group (NYSE:SJW) Price Target to $53.00

SJW Group (NYSE:SJW) had its target price lowered by stock analysts at Wells Fargo & Company from $61.00 to $53.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 14.55% from the company’s current price.

Several other equities research analysts also recently commented on SJW. Bank of America started coverage on shares of SJW Group in a research note on Friday, September 20th. They issued a “neutral” rating and a $65.00 target price on the stock. StockNews.com cut shares of SJW Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th.

SJW Group Trading Down 1.2 %

Shares of SJW opened at $46.27 on Tuesday. The stock has a 50 day simple moving average of $52.89 and a 200-day simple moving average of $56.23. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25. The stock has a market cap of $1.51 billion, a PE ratio of 16.76, a PEG ratio of 3.26 and a beta of 0.65. SJW Group has a 1 year low of $45.96 and a 1 year high of $65.15.

Institutional Investors Weigh In On SJW Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its stake in shares of SJW Group by 2.3% during the second quarter. Arizona State Retirement System now owns 8,526 shares of the utilities provider’s stock valued at $462,000 after purchasing an additional 189 shares during the last quarter. Chris Bulman Inc bought a new stake in shares of SJW Group during the second quarter worth $30,000. Quest Partners LLC acquired a new position in shares of SJW Group during the second quarter valued at $635,000. Daiwa Securities Group Inc. boosted its holdings in SJW Group by 21.6% in the second quarter. Daiwa Securities Group Inc. now owns 7,089 shares of the utilities provider’s stock valued at $384,000 after acquiring an additional 1,259 shares during the last quarter. Finally, Nuance Investments LLC increased its position in SJW Group by 17.5% in the second quarter. Nuance Investments LLC now owns 1,565,428 shares of the utilities provider’s stock worth $84,877,000 after purchasing an additional 233,601 shares during the period. 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.