Wells Fargo & Company Lowers SJW Group (NYSE:SJW) to Equal Weight

SJW Group (NYSE:SJW – Get Rating) was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Thursday, The Fly reports.

SJW has been the subject of a number of other research reports. Barclays lifted their price target on shares of SJW Group from $70.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 15th. TheStreet lowered shares of SJW Group from a “b-” rating to a “c+” rating in a research note on Thursday, May 19th. StockNews.com initiated coverage on shares of SJW Group in a research note on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. upgraded shares of SJW Group from a “neutral” rating to an “overweight” rating and set a $67.00 target price for the company in a research note on Monday, May 2nd. Finally, Zacks Investment Research lowered shares of SJW Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, SJW Group currently has a consensus rating of “Hold” and an average price target of $72.50.

NYSE SJW opened at $62.08 on Thursday. The company’s fifty day simple moving average is $63.32 and its 200-day simple moving average is $66.50. SJW Group has a 52 week low of $57.17 and a 52 week high of $73.69. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.45. The stock has a market cap of $1.88 billion, a P/E ratio of 30.28 and a beta of 0.59.

SJW Group (NYSE:SJW – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The utilities provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $124.30 million during the quarter, compared to analyst estimates of $117.03 million. SJW Group had a net margin of 10.56% and a return on equity of 5.21%. During the same quarter in the previous year, the firm earned $0.12 earnings per share. On average, research analysts expect that SJW Group will post 2.33 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. UMB Bank N A MO acquired a new stake in SJW Group in the 4th quarter valued at about $44,000. Kepos Capital LP acquired a new stake in SJW Group in the 4th quarter valued at about $92,000. Advisor Group Holdings Inc. lifted its holdings in SJW Group by 55.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,385 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 496 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in SJW Group in the 4th quarter valued at about $200,000. Finally, Humankind Investments LLC purchased a new stake in SJW Group during the fourth quarter valued at about $208,000. 77.21% of the stock is owned by institutional investors and hedge funds.

About SJW Group (Get Rating)

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 and wastewater services. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases; contracted services and sewer operations to water utilities; and a Linebacker protection plan for public drinking water customers in Connecticut and Maine.

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• Get a free copy of the StockNews.com research report on SJW Group (SJW)
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