Wells Fargo & Company Issues Positive Forecast for SJW Group (NYSE:SJW) Stock Price

SJW Group (NYSE:SJW) had its price objective hoisted by Wells Fargo & Company from $53.00 to $57.00 in a research report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the utilities provider’s stock.

Separately, Bank of America raised shares of SJW Group from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $59.00 to $55.00 in a research note on Monday, February 3rd.

SJW Group Stock Performance

NYSE:SJW opened at $52.67 on Friday. The company’s 50-day moving average price is $49.81 and its 200-day moving average price is $54.40. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.25. The company has a market cap 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 has a twelve month low of $44.91 and a twelve month high of $62.18.

SJW Group Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, February 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.19%. This is a boost from SJW Group’s previous quarterly dividend of $0.40. SJW Group’s payout ratio is 60.87%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SJW. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of SJW Group by 6.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 134,039 shares of the utilities provider’s stock worth $6,597,000 after buying an additional 7,848 shares during the last quarter. Voloridge Investment Management LLC grew its stake in shares of SJW Group by 100.2% during the 4th quarter. Voloridge Investment Management LLC now owns 10,526 shares of the utilities provider’s stock worth $518,000 after purchasing an additional 5,268 shares during the period. iSAM Funds UK Ltd acquired a new stake in SJW Group in the 4th quarter valued at about $209,000. Squarepoint Ops LLC acquired a new stake in SJW Group in the 4th quarter valued at about $660,000. Finally, ProShare Advisors LLC grew its stake in SJW Group by 22.9% in the 4th quarter. ProShare Advisors LLC now owns 159,074 shares of the utilities provider’s stock valued at $7,830,000 after acquiring an additional 29,691 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.