SJW Group (NYSE:SJW) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of SJW Group (NYSE:SJW) from a sell rating to a hold rating in a report released on Friday morning.

A number of other analysts have also weighed in on the company. Bank of America upgraded SJW Group from a “neutral” rating to a “buy” rating and lowered their target price for the company from $59.00 to $55.00 in a research note on Monday, February 3rd. Wells Fargo & Company raised their target price on SJW Group from $53.00 to $57.00 and gave the company an “equal weight” rating in a research note on Friday.

SJW Group Stock Performance

SJW Group stock opened at $52.67 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a fifty day moving average price of $49.81 and a two-hundred day moving average price of $54.40. SJW Group has a 52-week low of $44.91 and a 52-week high of $62.18. The firm has a market capitalization of $1.72 billion, a P/E ratio of 19.08, a P/E/G ratio of 3.94 and a beta of 0.65.

SJW Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 10th will be issued a $0.42 dividend. This is a boost from SJW Group’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, February 10th. This represents a $1.68 annualized dividend and a yield of 3.19%. SJW Group’s dividend payout ratio (DPR) is currently 60.87%.

Hedge Funds Weigh In On SJW Group

Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System boosted its holdings 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 boosted its holdings in SJW Group by 1.2% in the fourth 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 during the last quarter. Stifel Financial Corp boosted its holdings in 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 acquiring an additional 223 shares during the last quarter. HighTower Advisors LLC boosted its holdings in SJW Group by 5.6% in the fourth quarter. HighTower Advisors LLC now owns 4,430 shares of the utilities provider’s stock valued at $218,000 after acquiring an additional 233 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings 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 acquiring an additional 300 shares during the last quarter. 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.