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

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

Other analysts have also issued reports about the company. StockNews.com lowered SJW Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Bank of America began coverage on shares of SJW Group in a research report on Friday, September 20th. They set a “neutral” rating and a $65.00 target price on the stock.

SJW Group Stock Down 1.2 %

Shares of SJW opened at $46.27 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77. SJW Group has a 52 week low of $45.96 and a 52 week high of $65.15. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 3.26 and a beta of 0.65. The stock has a fifty day moving average of $52.71 and a 200-day moving average of $56.16.

SJW Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $1.60 annualized dividend and a dividend yield of 3.46%. SJW Group’s payout ratio is 57.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Chris Bulman Inc acquired a new position in SJW Group in the second quarter valued at $30,000. Point72 DIFC Ltd raised its position 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 acquiring an additional 316 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of SJW Group in the 3rd quarter valued at about $46,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of SJW Group by 576.5% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 761 shares in the last quarter. Finally, US Bancorp DE grew its stake 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 period. 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.