Wells Fargo & Company Lowers SJW Group (NYSE:SJW) Price Target to $53.00

SJW Group (NYSE:SJW) had its price objective reduced by analysts at Wells Fargo & Company from $61.00 to $53.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 13.27% from the stock’s previous close.

Several other research analysts have also recently commented on the stock. StockNews.com cut shares of SJW Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 29th. Bank of America initiated coverage on shares of SJW Group in a research note on Friday, September 20th. They issued a “neutral” rating and a $65.00 price objective for the company.

SJW Group Trading Down 0.8 %

Shares of NYSE SJW traded down $0.36 during mid-day trading on Tuesday, hitting $46.79. 25,721 shares of the company traded hands, compared to its average volume of 174,074. The business has a 50 day moving average of $53.26 and a two-hundred day moving average of $56.34. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 3.26 and a beta of 0.65. SJW Group has a 1 year low of $46.67 and a 1 year high of $65.15. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.25.

Institutional Investors Weigh In On SJW Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Chris Bulman Inc acquired a new position in shares of SJW Group in the second quarter worth $30,000. Point72 DIFC Ltd increased its position in SJW Group by 81.4% in the 3rd quarter. Point72 DIFC Ltd now owns 704 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 316 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of SJW Group during the 3rd quarter worth about $46,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of SJW Group by 576.5% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 893 shares of the utilities provider’s stock valued at $48,000 after buying an additional 761 shares during the last quarter. Finally, US Bancorp DE grew its stake in shares of SJW Group by 53.8% in the 3rd quarter. US Bancorp DE now owns 1,255 shares of the utilities provider’s stock valued at $73,000 after buying an additional 439 shares in the last quarter. Hedge funds and other institutional investors 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.