Wells Fargo & Company Forecasts Strong Price Appreciation for SJW Group (NYSE:SJW) Stock

SJW Group (NYSE:SJW - Get Free Report) had its target price upped by research analysts at Wells Fargo & Company from $53.00 to $57.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the utilities provider's stock. Wells Fargo & Company's target price suggests a potential upside of 4.64% from the stock's current price.

Separately, Bank of America upgraded shares of SJW Group from a "neutral" rating to a "buy" rating and cut their price target for the stock from $59.00 to $55.00 in a research note on Monday, February 3rd.

SJW Group Stock Performance

Shares of NYSE:SJW traded up $0.12 on Friday, hitting $54.47. 234,758 shares of the company were exchanged, compared to its average volume of 288,514. SJW Group has a one year low of $44.91 and a one year high of $62.18. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 3.94 and a beta of 0.65. The company's 50 day moving average price is $50.02 and its two-hundred day moving average price is $54.27.

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Institutional Investors Weigh In On SJW Group

Institutional investors have recently modified their holdings of the business. Arizona State Retirement System boosted its stake in SJW Group by 2.2% in the fourth quarter. Arizona State Retirement System now owns 9,015 shares of the utilities provider's stock valued at $444,000 after acquiring an additional 197 shares during the last quarter. State of Alaska Department of Revenue lifted its position in SJW Group by 1.2% in the 4th quarter. State of Alaska Department of Revenue now owns 17,198 shares of the utilities provider's stock valued at $846,000 after acquiring an additional 210 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of SJW Group by 2.2% in the fourth quarter. Stifel Financial Corp now owns 10,270 shares of the utilities provider's stock valued at $505,000 after purchasing an additional 223 shares in the last quarter. HighTower Advisors LLC boosted its position in SJW Group by 5.6% during the 4th quarter. HighTower Advisors LLC now owns 4,430 shares of the utilities provider's stock worth $218,000 after acquiring an additional 233 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in SJW Group by 64.4% in the fourth quarter. Russell Investments Group Ltd. now owns 766 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 300 shares in the last quarter. 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.