SJW Group Announces Quarterly Dividend of $0.40 (NYSE:SJW)

SJW Group (NYSE:SJW) declared a quarterly dividend on Friday, October 25th, Zacks reports. Shareholders of record on Monday, November 4th will be given a dividend of 0.40 per share by the utilities provider on Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Monday, November 4th.

SJW Group has raised its dividend by an average of 5.9% annually over the last three years and has raised its dividend annually for the last 57 consecutive years. SJW Group has a payout ratio of 54.2% meaning its dividend is sufficiently covered by earnings. Analysts expect SJW Group to earn $2.98 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 53.7%.

SJW Group Trading Down 1.4 %

Shares of SJW opened at $54.89 on Friday. The business’s 50-day moving average price is $58.25 and its 200-day moving average price is $56.92. The company has a quick ratio of 0.49, a current ratio of 0.77 and a debt-to-equity ratio of 1.25. SJW Group has a twelve month low of $51.17 and a twelve month high of $70.43. The stock has a market cap of $1.83 billion, a PE ratio of 19.88, a P/E/G ratio of 3.37 and a beta of 0.63.

Analysts Set New Price Targets

SJW has been the topic of several recent analyst reports. 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 target price on the stock. Wells Fargo & Company lowered their price objective on SJW Group from $63.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, StockNews.com cut SJW Group from a “hold” rating to a “sell” rating in a research report on Tuesday.

About SJW Group

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.