SJW Group (NYSE:SJW) Price Target Cut to $61.00 by Analysts at Wells Fargo & Company

SJW Group (NYSE:SJW) had its target price decreased by Wells Fargo & Company from $63.00 to $61.00 in a research note published on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the utilities provider’s stock.

Separately, Bank of America began coverage on shares of SJW Group in a research report on Friday, September 20th. They issued a “neutral” rating and a $65.00 price target for the company.

SJW Group Trading Down 1.4 %

Shares of SJW stock opened at $54.87 on Tuesday. The firm has a 50 day moving average price of $58.25 and a two-hundred day moving average price of $56.92. The company has a quick ratio of 0.49, a current ratio of 0.77 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $1.82 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 3.36 and a beta of 0.62. SJW Group has a 12-month low of $51.17 and a 12-month high of $70.43.

SJW Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a $0.40 dividend. The ex-dividend date is Monday, November 4th. This represents a $1.60 annualized dividend and a yield of 2.92%. SJW Group’s payout ratio is 57.97%.

Hedge Funds Weigh In On SJW Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of SJW Group by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 2,465,745 shares of the utilities provider’s stock worth $161,136,000 after acquiring an additional 78,289 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of SJW Group by 93.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 38,747 shares of the utilities provider’s stock valued at $2,193,000 after buying an additional 18,723 shares in the last quarter. Maryland State Retirement & Pension System lifted its stake in SJW Group by 0.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 35,299 shares of the utilities provider’s stock worth $1,850,000 after purchasing an additional 195 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of SJW Group by 21.2% during the 1st quarter. BNP Paribas Financial Markets now owns 23,681 shares of the utilities provider’s stock valued at $1,340,000 after buying an additional 4,140 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of SJW Group during the 1st quarter valued at $260,000. Institutional investors and hedge funds 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.