SJW Group Declares Quarterly Dividend of $0.36 (NYSE:SJW)

SJW Group (NYSE:SJWGet Rating) announced a quarterly dividend on Wednesday, April 27th, Zacks reports. Investors of record on Monday, May 9th will be paid a dividend of 0.36 per share by the utilities provider on Wednesday, June 1st. This represents a $1.44 annualized dividend and a yield of 2.37%. The ex-dividend date is Friday, May 6th.

SJW Group has increased its dividend by an average of 6.7% per year over the last three years and has increased its dividend every year for the last 56 years. SJW Group has a payout ratio of 55.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect SJW Group to earn $2.56 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 56.3%.

Shares of NYSE:SJW opened at $60.88 on Friday. SJW Group has a 52-week low of $59.05 and a 52-week high of $73.69. The company has a market capitalization of $1.84 billion, a P/E ratio of 30.05 and a beta of 0.51. The company has a 50-day simple moving average of $66.26 and a 200 day simple moving average of $68.03. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.66 and a current ratio of 0.66.

SJW Group (NYSE:SJWGet Rating) last issued its earnings results on Wednesday, April 27th. The utilities provider reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. SJW Group had a net margin of 10.54% and a return on equity of 5.32%. During the same period in the prior year, the company posted $0.12 earnings per share. As a group, equities analysts forecast that SJW Group will post 2.37 earnings per share for the current year.

A number of research firms have recently weighed in on SJW. StockNews.com began coverage on shares of SJW Group in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research downgraded shares of SJW Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th. Seaport Res Ptn upgraded shares of SJW Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 25th. Finally, Barclays lifted their price target on shares of SJW Group from $70.00 to $73.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $74.33.

Large investors have recently made changes to their positions in the stock. LPL Financial LLC bought a new position in SJW Group in the third quarter valued at approximately $302,000. Vident Investment Advisory LLC increased its stake in SJW Group by 16.7% in the fourth quarter. Vident Investment Advisory LLC now owns 6,463 shares of the utilities provider’s stock valued at $473,000 after acquiring an additional 924 shares during the last quarter. Citigroup Inc. increased its stake in SJW Group by 107.1% in the fourth quarter. Citigroup Inc. now owns 7,707 shares of the utilities provider’s stock valued at $564,000 after acquiring an additional 3,986 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of SJW Group during the fourth quarter worth $585,000. Finally, Royal Bank of Canada grew its stake in shares of SJW Group by 9.6% during the third quarter. Royal Bank of Canada now owns 14,931 shares of the utilities provider’s stock worth $986,000 after buying an additional 1,308 shares during the last quarter. 73.21% of the stock is currently owned by institutional investors and hedge funds.

SJW Group Company Profile (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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Dividend History for SJW Group (NYSE:SJW)

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