SJW Group (NYSE:SJW) Trading Up 4.7% Following Dividend Announcement

SJW Group (NYSE:SJW)’s share price was up 4.7% on Tuesday after the company announced a dividend. The company traded as high as $56.25 and last traded at $56.04. Approximately 31,360 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 228,333 shares. The stock had previously closed at $53.51.

The newly announced dividend which will be paid on Monday, June 2nd. Investors of record on Monday, May 12th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.96%. The ex-dividend date is Monday, May 12th. SJW Group’s dividend payout ratio (DPR) is presently 58.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of SJW Group from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday. Bank of America upgraded shares of SJW Group from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $59.00 to $55.00 in a report on Monday, February 3rd. Finally, StockNews.com upgraded SJW Group from a “sell” rating to a “hold” rating in a research report on Friday, February 28th.

SJW Group Stock Performance

The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 3.94 and a beta of 0.56. The company’s 50-day simple moving average is $53.47 and its 200-day simple moving average is $52.88. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SJW. Bank of New York Mellon Corp boosted its holdings in SJW Group by 6.8% in the first quarter. Bank of New York Mellon Corp now owns 349,823 shares of the utilities provider’s stock valued at $19,132,000 after acquiring an additional 22,234 shares during the last quarter. D.A. Davidson & CO. bought a new stake in shares of SJW Group in the 1st quarter valued at $480,000. Principal Financial Group Inc. increased its position in shares of SJW Group by 2.7% during the first quarter. Principal Financial Group Inc. now owns 150,907 shares of the utilities provider’s stock worth $8,253,000 after buying an additional 3,993 shares during the period. Teacher Retirement System of Texas acquired a new position in SJW Group in the first quarter valued at $252,000. Finally, New York State Teachers Retirement System boosted its position in SJW Group by 19.1% during the first quarter. New York State Teachers Retirement System now owns 18,274 shares of the utilities provider’s stock valued at $999,000 after acquiring an additional 2,926 shares during the last quarter. 84.29% of the stock is owned by institutional investors and hedge funds.

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.