Evercore ISI Upgrades SJW Group (SJW) to Outperform

SJW Group (NYSE:SJW) was upgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a note issued to investors on Wednesday, Marketbeat reports.

A number of other research analysts have also recently weighed in on SJW. ValuEngine cut SJW Group from a “buy” rating to a “hold” rating in a research report on Friday, November 30th. Janney Montgomery Scott raised SJW Group from a “neutral” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Monday, September 10th. Finally, Zacks Investment Research cut SJW Group from a “hold” rating to a “sell” rating in a report on Thursday, September 13th.

SJW stock opened at $54.84 on Wednesday. SJW Group has a twelve month low of $51.26 and a twelve month high of $68.42. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $1.14 billion, a PE ratio of 24.27 and a beta of 0.04.

SJW Group (NYSE:SJW) last posted its quarterly earnings data on Wednesday, October 24th. The utilities provider reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.20). SJW Group had a net margin of 12.04% and a return on equity of 10.92%. The company had revenue of $124.85 million for the quarter, compared to analysts’ expectations of $127.00 million. As a group, equities analysts forecast that SJW Group will post 2.19 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in SJW Group by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,024,163 shares of the utilities provider’s stock worth $62,627,000 after purchasing an additional 13,510 shares in the last quarter. Legal & General Group Plc lifted its holdings in SJW Group by 4.0% in the 3rd quarter. Legal & General Group Plc now owns 73,416 shares of the utilities provider’s stock worth $4,490,000 after purchasing an additional 2,807 shares in the last quarter. Teachers Advisors LLC lifted its holdings in SJW Group by 28.7% in the 3rd quarter. Teachers Advisors LLC now owns 40,840 shares of the utilities provider’s stock worth $2,497,000 after purchasing an additional 9,104 shares in the last quarter. IndexIQ Advisors LLC lifted its holdings in SJW Group by 3.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 43,127 shares of the utilities provider’s stock worth $2,637,000 after purchasing an additional 1,629 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its holdings in SJW Group by 58.4% in the 3rd quarter. MetLife Investment Advisors LLC now owns 11,713 shares of the utilities provider’s stock worth $716,000 after purchasing an additional 4,319 shares in the last quarter. 54.86% of the stock is currently owned by institutional investors.

About SJW Group

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. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases.

See Also: Ex-Dividend

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