Wells Fargo & Company Cuts SJW Group (NYSE:SJW) Price Target to $61.00

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

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

SJW Group Trading Up 0.4 %

Shares of SJW opened at $55.69 on Tuesday. SJW Group has a twelve month low of $51.17 and a twelve month high of $70.43. The company has a current ratio of 0.77, a quick ratio of 0.49 and a debt-to-equity ratio of 1.25. The company’s fifty day simple moving average is $58.36 and its 200-day simple moving average is $56.91. The company has a market cap of $1.85 billion, a P/E ratio of 20.18, a P/E/G ratio of 3.36 and a beta of 0.62.

SJW Group Announces Dividend

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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend is Monday, November 4th. SJW Group’s payout ratio is presently 57.97%.

Institutional Investors Weigh In On SJW Group

Large investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System raised 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 acquiring an additional 189 shares in the last quarter. Maryland State Retirement & Pension System raised its position in SJW Group by 0.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 35,299 shares of the utilities provider’s stock valued at $1,850,000 after purchasing an additional 195 shares in the last quarter. Chatham Capital Group Inc. lifted its holdings in shares of SJW Group by 1.2% in the 2nd quarter. Chatham Capital Group Inc. now owns 26,552 shares of the utilities provider’s stock worth $1,440,000 after buying an additional 320 shares during the period. Texas Permanent School Fund Corp grew its position in shares of SJW Group by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 25,432 shares of the utilities provider’s stock worth $1,439,000 after buying an additional 329 shares in the last quarter. Finally, CWM LLC increased its stake in shares of SJW Group by 184.2% during the second quarter. CWM LLC now owns 520 shares of the utilities provider’s stock valued at $28,000 after buying an additional 337 shares during the period. 84.29% of the stock is owned by hedge funds and other 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.