SJW Group (NYSE:SJW) Stock Rating Upgraded by Bank of America

Bank of America upgraded shares of SJW Group (NYSE:SJW - Free Report) from a neutral rating to a buy rating in a research note published on Monday, Marketbeat.com reports. The firm currently has $55.00 price target on the utilities provider's stock, down from their prior price target of $59.00.

Several other equities analysts have also issued reports on the company. StockNews.com lowered SJW Group from a "hold" rating to a "sell" rating in a report on Tuesday, October 29th. Wells Fargo & Company dropped their target price on SJW Group from $61.00 to $53.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th.

SJW Group Stock Down 0.4 %

Shares of SJW traded down $0.23 during mid-day trading on Monday, hitting $51.79. 194,623 shares of the company's stock were exchanged, compared to its average volume of 304,843. 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 fifty-two week low of $44.91 and a fifty-two week high of $62.18. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 3.68 and a beta of 0.65. The stock's 50-day moving average is $50.04 and its 200-day moving average is $55.19.

SJW Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be given a dividend of $0.42 per share. This is an increase from SJW Group's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, February 10th. SJW Group's payout ratio is currently 57.97%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of SJW Group during the fourth quarter valued at approximately $1,942,000. Arizona State Retirement System raised its holdings in SJW Group by 2.2% in the 4th 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. Proficio Capital Partners LLC purchased a new position in SJW Group during the fourth quarter worth about $574,000. Charles Schwab Investment Management Inc. boosted its position in shares of SJW Group by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 390,911 shares of the utilities provider's stock worth $19,241,000 after acquiring an additional 20,944 shares during the last quarter. Finally, Keynote Financial Services LLC grew its holdings in SJW Group by 49.2% in the fourth quarter. Keynote Financial Services LLC now owns 43,880 shares of the utilities provider's stock valued at $2,160,000 after purchasing an additional 14,460 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.