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

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

Other equities research analysts also recently issued reports about the stock. Bank of America started 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. StockNews.com cut SJW Group from a "hold" rating to a "sell" rating in a report on Tuesday, October 29th.

SJW Group Stock Performance

Shares of SJW stock traded down $0.33 on Tuesday, hitting $46.82. The company's stock had a trading volume of 218,951 shares, compared to its average volume of 224,713. SJW Group has a fifty-two week low of $46.20 and a fifty-two week high of $65.15. The company has a market capitalization of $1.53 billion, a PE ratio of 16.96, a PEG ratio of 3.26 and a beta of 0.65. The stock's 50 day moving average is $53.26 and its 200-day moving average is $56.34. 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 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were given a dividend of $0.40 per share. The ex-dividend date was Monday, November 4th. This represents a $1.60 annualized dividend and a dividend yield of 3.42%. SJW Group's dividend payout ratio is 57.97%.

Hedge Funds Weigh In On SJW Group

A number of institutional investors have recently modified their holdings of the business. Nuance Investments LLC boosted its position in SJW Group by 17.5% in the second quarter. Nuance Investments LLC now owns 1,565,428 shares of the utilities provider's stock valued at $84,877,000 after buying an additional 233,601 shares in the last quarter. Millennium Management LLC increased its holdings in shares of SJW Group by 2,491.2% during the second quarter. Millennium Management LLC now owns 113,781 shares of the utilities provider's stock worth $6,169,000 after buying an additional 109,390 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of SJW Group by 29.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 212,299 shares of the utilities provider's stock valued at $12,337,000 after acquiring an additional 48,200 shares during the last quarter. Barclays PLC boosted its holdings in shares of SJW Group by 376.0% during the 3rd quarter. Barclays PLC now owns 60,140 shares of the utilities provider's stock valued at $3,495,000 after acquiring an additional 47,506 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in SJW Group by 445.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 45,946 shares of the utilities provider's stock worth $2,491,000 after acquiring an additional 37,521 shares during the last quarter. 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.