Brokerages Set $68.00 Price Target for SJW Group (SJW)

Shares of SJW Group (NYSE:SJW) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price target of $68.00 for the company and are expecting that the company will post $0.44 EPS for the current quarter, according to Zacks. Zacks has also assigned SJW Group an industry rank of 197 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research raised shares of SJW Group from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Tuesday, October 31st.

Hedge funds have recently added to or reduced their stakes in the stock. Almanack Investment Partners LLC. acquired a new position in shares of SJW Group during the 4th quarter worth $111,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of SJW Group by 651.5% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,029 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 1,759 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its stake in shares of SJW Group by 84.9% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 2,734 shares of the utilities provider’s stock worth $174,000 after purchasing an additional 1,255 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of SJW Group by 1.2% during the 2nd quarter. Principal Financial Group Inc. now owns 4,220 shares of the utilities provider’s stock worth $208,000 after purchasing an additional 49 shares during the last quarter. Finally, Raymond James & Associates acquired a new position in SJW Group in the 4th quarter valued at $220,000. 53.66% of the stock is owned by institutional investors and hedge funds.

Shares of SJW Group (NYSE:SJW) traded up $1.61 during trading hours on Friday, hitting $54.46. 87,365 shares of the stock were exchanged, compared to its average volume of 68,330. SJW Group has a 12 month low of $45.39 and a 12 month high of $69.29. The firm has a market cap of $1,100.33, a price-to-earnings ratio of 19.91 and a beta of 0.10. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.95.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Monday, February 12th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, February 9th. This is a positive change from SJW Group’s previous quarterly dividend of $0.22. This represents a $1.12 annualized dividend and a yield of 2.06%. SJW Group’s dividend payout ratio is currently 41.64%.

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About SJW Group

SJW Group, formerly SJW Corp., is a holding company. The Company’s subsidiaries include San Jose Water Company, SJWTX, Inc, SJW Land Company and Texas Water Alliance Limited (TWA). SJWTX, Inc is doing business as Canyon Lake Water Service Company (CLWSC). It operates through the segments, which include Water Utility Services, Real Estate Services and All Other.

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