SJW Group (NYSE:SJW) Price Target Lowered to $53.00 at Wells Fargo & Company

SJW Group (NYSE:SJW) had its price objective reduced by Wells Fargo & Company from $61.00 to $53.00 in a report released on Tuesday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

A number of other research analysts have also recently issued reports on the stock. StockNews.com cut shares of SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Bank of America started coverage on shares of SJW Group in a research report on Friday, September 20th. They issued a “neutral” rating and a $65.00 price objective for the company.

SJW Group Price Performance

Shares of SJW opened at $46.82 on Tuesday. The stock has a market cap of $1.53 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 3.26 and a beta of 0.65. SJW Group has a 1 year low of $46.20 and a 1 year high of $65.15. The stock’s 50-day moving average price is $53.08 and its two-hundred day moving average price is $56.30. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Monday, November 4th. SJW Group’s payout ratio is presently 57.97%.

Institutional Trading of SJW Group

Several hedge funds and other institutional investors have recently modified their holdings of SJW. Chris Bulman Inc bought a new position in shares of SJW Group during the second quarter worth about $30,000. Point72 DIFC Ltd grew its stake in shares of SJW Group by 81.4% during the 3rd quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 316 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of SJW Group in the third quarter valued at approximately $46,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of SJW Group by 576.5% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 761 shares in the last quarter. Finally, US Bancorp DE boosted 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 purchasing an additional 439 shares during the last quarter. Institutional investors and hedge funds own 84.29% of the company’s stock.

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.