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

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

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

SJW Group Stock Down 0.7 %

Shares of SJW stock 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. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a fifty day moving average price of $53.08 and a 200 day moving average price of $56.30. SJW Group has a one year low of $46.20 and a one year high of $65.15.

SJW Group Announces Dividend

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

Hedge Funds Weigh In On SJW Group

Several institutional investors have recently bought and sold shares of the business. Chris Bulman Inc acquired a new position in SJW Group during the 2nd quarter worth about $30,000. Point72 DIFC Ltd grew its stake in shares of SJW Group by 81.4% during the third quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 316 shares during 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 holdings in SJW Group by 576.5% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock worth $48,000 after buying an additional 761 shares in the last quarter. Finally, US Bancorp DE boosted its position in SJW Group by 53.8% in the 3rd quarter. US Bancorp DE now owns 1,255 shares of the utilities provider’s stock valued at $73,000 after buying an additional 439 shares during the last quarter. Institutional investors own 84.29% of the company’s stock.

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.