Brokerages Set SJW Group (NYSE:SJW) Price Target at $73.50

SJW Group (NYSE:SJW) has been assigned an average recommendation of “Buy” from the seven analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $73.50.

A number of brokerages have commented on SJW. Macquarie began coverage on SJW Group in a report on Monday, October 7th. They issued an “outperform” rating and a $79.00 price objective on the stock. Zacks Investment Research lowered SJW Group from a “strong-buy” rating to a “hold” rating in a report on Thursday. ValuEngine raised SJW Group from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $71.00 price objective on shares of SJW Group in a report on Thursday, September 5th. Finally, Wells Fargo & Co set a $80.00 price objective on SJW Group and gave the company a “buy” rating in a report on Tuesday, September 3rd.

NYSE SJW traded down $1.13 on Wednesday, reaching $68.04. The stock had a trading volume of 106,213 shares, compared to its average volume of 129,176. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.52 and a quick ratio of 3.97. The firm has a fifty day moving average of $70.66 and a two-hundred day moving average of $65.39. SJW Group has a 1-year low of $51.82 and a 1-year high of $74.47. The company has a market cap of $2.03 billion, a P/E ratio of 27.11, a price-to-earnings-growth ratio of 11.19 and a beta of -0.01.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 11th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.76%. This is a positive change from SJW Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, November 7th. SJW Group’s dividend payout ratio is currently 47.81%.

Several large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its stake in shares of SJW Group by 50.6% in the second quarter. Advisory Services Network LLC now owns 732 shares of the utilities provider’s stock valued at $45,000 after buying an additional 246 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in SJW Group by 18.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,810 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 285 shares during the period. Comerica Bank increased its position in SJW Group by 1.8% in the second quarter. Comerica Bank now owns 16,655 shares of the utilities provider’s stock worth $1,071,000 after buying an additional 295 shares during the last quarter. AQR Capital Management LLC increased its position in SJW Group by 0.7% in the second quarter. AQR Capital Management LLC now owns 59,019 shares of the utilities provider’s stock worth $3,587,000 after buying an additional 389 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of SJW Group by 1.9% in the second quarter. Royal Bank of Canada now owns 20,840 shares of the utilities provider’s stock valued at $1,265,000 after purchasing an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 68.02% of the company’s stock.

About SJW Group

SJW Group, through its subsidiaries, provides water utility services in the United States. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases.

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Analyst Recommendations for SJW Group (NYSE:SJW)

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