SJW Group (NYSE:SJW) Price Target Raised to $60.00

SJW Group (NYSE:SJW) had its price objective hoisted by Wells Fargo & Company from $57.00 to $60.00 in a research report report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other research analysts have also recently weighed in on SJW. Bank of America raised shares of SJW Group from a “neutral” rating to a “buy” rating and lowered their price target for the company from $59.00 to $55.00 in a report on Monday, February 3rd. StockNews.com raised SJW Group from a “sell” rating to a “hold” rating in a research report on Friday, February 28th.

SJW Group Trading Down 0.7 %

SJW stock opened at $56.34 on Tuesday. SJW Group has a one year low of $44.91 and a one year high of $62.18. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 3.94 and a beta of 0.56. The company has a fifty day moving average price of $53.63 and a two-hundred day moving average price of $52.89. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77.

SJW Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 12th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Monday, May 12th. SJW Group’s dividend payout ratio is currently 56.38%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Barclays PLC increased its stake in SJW Group by 376.0% during the 3rd quarter. Barclays PLC now owns 60,140 shares of the utilities provider’s stock worth $3,495,000 after acquiring an additional 47,506 shares during the period. Franklin Resources Inc. increased its position in shares of SJW Group by 162.6% in the third quarter. Franklin Resources Inc. now owns 42,810 shares of the utilities provider’s stock worth $2,504,000 after purchasing an additional 26,505 shares during the period. Ballentine Partners LLC raised its stake in SJW Group by 26.4% in the fourth quarter. Ballentine Partners LLC now owns 6,943 shares of the utilities provider’s stock valued at $342,000 after purchasing an additional 1,452 shares in the last quarter. SG Americas Securities LLC lifted its position in SJW Group by 195.7% during the fourth quarter. SG Americas Securities LLC now owns 31,919 shares of the utilities provider’s stock worth $1,571,000 after purchasing an additional 21,123 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in SJW Group by 1.2% during the fourth quarter. State of Alaska Department of Revenue now owns 17,198 shares of the utilities provider’s stock worth $846,000 after buying an additional 210 shares in the last quarter. 84.29% of the stock is owned by institutional investors.

About SJW Group

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.