UBS Group assumed coverage on shares of SJW Group (NYSE:SJW) in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $64.00 target price on the utilities provider’s stock.
A number of other equities research analysts have also issued reports on the company. Wells Fargo & Co set a $72.00 price target on SJW Group and gave the company a buy rating in a research report on Friday, April 26th. Zacks Investment Research raised SJW Group from a hold rating to a strong-buy rating and set a $70.00 price target on the stock in a research report on Thursday, April 25th. Finally, ValuEngine lowered SJW Group from a buy rating to a hold rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. SJW Group currently has an average rating of Buy and an average price target of $65.60.
SJW traded up $0.92 during mid-day trading on Wednesday, hitting $62.74. 407 shares of the stock were exchanged, compared to its average volume of 139,228. SJW Group has a 1-year low of $51.82 and a 1-year high of $68.42. The company has a current ratio of 5.63, a quick ratio of 5.63 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 4.46 and a beta of 0.06.
SJW Group (NYSE:SJW) last posted its quarterly earnings results on Wednesday, April 24th. The utilities provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.13. The company had revenue of $77.68 million for the quarter, compared to analyst estimates of $77.00 million. SJW Group had a return on equity of 8.37% and a net margin of 10.83%. On average, research analysts forecast that SJW Group will post 2.35 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 6th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, May 3rd. SJW Group’s dividend payout ratio is currently 47.81%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its stake in shares of SJW Group by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 135,971 shares of the utilities provider’s stock valued at $8,315,000 after buying an additional 2,074 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in shares of SJW Group by 58.4% in the third quarter. MetLife Investment Advisors LLC now owns 11,713 shares of the utilities provider’s stock worth $716,000 after purchasing an additional 4,319 shares during the period. Teachers Advisors LLC increased its stake in shares of SJW Group by 28.7% in the third quarter. Teachers Advisors LLC now owns 40,840 shares of the utilities provider’s stock worth $2,497,000 after purchasing an additional 9,104 shares during the period. Legal & General Group Plc increased its stake in shares of SJW Group by 4.0% in the third quarter. Legal & General Group Plc now owns 73,416 shares of the utilities provider’s stock worth $4,490,000 after purchasing an additional 2,807 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of SJW Group by 1.3% in the third quarter. Vanguard Group Inc. now owns 1,024,163 shares of the utilities provider’s stock worth $62,627,000 after purchasing an additional 13,510 shares during the period. 66.11% of the stock is currently owned by institutional investors and hedge funds.
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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