Brokerages Set SJW Group (NYSE:SJW) Price Target at $63.00

Shares of SJW Group (NYSE:SJW) have been given an average rating of “Hold” by the three ratings firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $63.00.

Several brokerages have issued reports on SJW. StockNews.com lowered SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Wells Fargo & Company reduced their price target on shares of SJW Group from $63.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Finally, Bank of America initiated coverage on shares of SJW Group in a research note on Friday, September 20th. They set a “neutral” rating and a $65.00 price target for the company.

Hedge Funds Weigh In On SJW Group

Large investors have recently bought and sold shares of the stock. Chris Bulman Inc bought a new position in shares of SJW Group during the second quarter valued at about $30,000. Point72 DIFC Ltd boosted its stake in shares of SJW Group by 81.4% in the 3rd quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider’s stock worth $41,000 after buying an additional 316 shares during the last quarter. nVerses Capital LLC bought a new position in shares of SJW Group in the third quarter valued at approximately $46,000. Point72 Asia Singapore Pte. Ltd. increased its position in shares of SJW Group by 576.5% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 761 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in SJW Group by 53.8% during the third quarter. US Bancorp DE now owns 1,255 shares of the utilities provider’s stock worth $73,000 after acquiring an additional 439 shares during the period. 84.29% of the stock is currently owned by institutional investors.

SJW Group Trading Up 1.0 %

SJW opened at $49.54 on Friday. The company has a fifty day moving average price of $54.98 and a two-hundred day moving average price of $56.54. SJW Group has a 1-year low of $48.83 and a 1-year high of $67.09. The company has a market cap of $1.62 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 3.26 and a beta of 0.62. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25.

SJW Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were given a dividend of $0.40 per share. The ex-dividend date was Monday, November 4th. This represents a $1.60 annualized dividend and a dividend yield of 3.23%. SJW Group’s payout ratio is 57.97%.

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.