Shares of SJW Group (NYSE:SJW – Get Rating) have received an average recommendation of "Hold" from the six brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $66.00.
SJW has been the subject of a number of recent analyst reports. TheStreet downgraded shares of SJW Group from a "b-" rating to a "c+" rating in a research report on Thursday, May 19th. Wells Fargo & Company downgraded shares of SJW Group from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $67.00 to $66.00 in a research note on Thursday, June 2nd. Finally, Barclays cut their price target on shares of SJW Group from $72.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, July 18th.
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Institutional Investors Weigh In On SJW Group
A number of hedge funds have recently added to or reduced their stakes in SJW. Canvas Wealth Advisors LLC lifted its holdings in shares of SJW Group by 0.8% in the 2nd quarter. Canvas Wealth Advisors LLC now owns 22,455 shares of the utilities provider's stock worth $1,401,000 after purchasing an additional 178 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of SJW Group by 3.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 9,333 shares of the utilities provider's stock valued at $683,000 after buying an additional 288 shares in the last quarter. Chatham Capital Group Inc. lifted its stake in shares of SJW Group by 1.4% in the first quarter. Chatham Capital Group Inc. now owns 24,849 shares of the utilities provider's stock valued at $1,729,000 after buying an additional 333 shares in the last quarter. Humankind Investments LLC grew its holdings in shares of SJW Group by 11.9% during the first quarter. Humankind Investments LLC now owns 3,184 shares of the utilities provider's stock valued at $222,000 after buying an additional 338 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of SJW Group by 7.0% during the first quarter. Teacher Retirement System of Texas now owns 5,850 shares of the utilities provider's stock worth $407,000 after acquiring an additional 385 shares in the last quarter. Institutional investors and hedge funds own 72.05% of the company's stock.
SJW Group Trading Down 0.8 %
NYSE SJW opened at $63.56 on Wednesday. The firm has a market capitalization of $1.92 billion, a PE ratio of 36.53 and a beta of 0.55. The business's 50-day moving average price is $64.75 and its two-hundred day moving average price is $63.96. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.41. SJW Group has a 12 month low of $55.74 and a 12 month high of $73.69.
SJW Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 8th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Friday, August 5th. This is a boost from SJW Group's previous quarterly dividend of $0.19. SJW Group's dividend payout ratio is 82.76%.
SJW Group Company Profile
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SJW Group, through its subsidiaries, provides water utility services in the United States. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases; contracted services and sewer operations to water utilities; and a Linebacker protection plan for public drinking water customers in Connecticut and Maine.
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