SJW Group (NYSE:SJW) Price Target Cut to $61.00

SJW Group (NYSE:SJW - Free Report) had its price target cut by Wells Fargo & Company from $63.00 to $61.00 in a research note published on Tuesday, Benzinga reports. They currently have an equal weight rating on the utilities provider's stock.

Separately, Bank of America started coverage on shares of SJW Group in a report on Friday, September 20th. They set a "neutral" rating and a $65.00 price target for the company.

SJW Group Stock Performance

Shares of SJW stock traded down $1.58 during midday trading on Tuesday, hitting $56.18. 203,834 shares of the company were exchanged, compared to its average volume of 188,105. The firm has a market capitalization of $1.84 billion, a P/E ratio of 20.66, a PEG ratio of 3.42 and a beta of 0.62. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.49 and a current ratio of 0.49. The firm's 50 day moving average price is $58.48 and its two-hundred day moving average price is $56.90. SJW Group has a 52 week low of $51.17 and a 52 week high of $70.43.

SJW Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Monday, November 4th. SJW Group's dividend payout ratio (DPR) is 58.82%.

Institutional Trading of SJW Group

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC raised its holdings in shares of SJW Group by 184.2% in the second quarter. CWM LLC now owns 520 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 337 shares during the last quarter. Chris Bulman Inc purchased a new stake in SJW Group during the second quarter worth about $30,000. nVerses Capital LLC purchased a new position in shares of SJW Group in the third quarter worth about $46,000. Point72 Asia Singapore Pte. Ltd. increased its stake 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 increased its stake in shares of SJW Group by 53.8% in 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 in the last quarter. Hedge funds and other 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.