Fintel reports that on October 4, 2023, UBS maintained coverage of SJW Group (NYSE:SJW) with a Neutral recommendation.
Analyst Price Forecast Suggests 36.71% Upside
As of August 31, 2023, the average one-year price target for SJW Group is 80.84. The forecasts range from a low of 72.72 to a high of $89.25. The average price target represents an increase of 36.71% from its latest reported closing price of 59.13.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SJW Group is 637MM, a decrease of 0.78%. The projected annual non-GAAP EPS is 2.56.
SJW Group Declares $0.38 Dividend
On July 31, 2023 the company declared a regular quarterly dividend of $0.38 per share ($1.52 annualized). Shareholders of record as of August 7, 2023 received the payment on September 1, 2023. Previously, the company paid $0.38 per share.
At the current share price of $59.13 / share, the stock's dividend yield is 2.57%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.02%, the lowest has been 1.61%, and the highest has been 2.60%. The standard deviation of yields is 0.19 (n=236).
The current dividend yield is 2.97 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.55. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.19%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 491 funds or institutions reporting positions in SJW Group. This is an increase of 6 owner(s) or 1.24% in the last quarter. Average portfolio weight of all funds dedicated to SJW is 0.16%, a decrease of 10.41%. Total shares owned by institutions decreased in the last three months by 2.54% to 27,996K shares. 
The put/call ratio of SJW is 0.37, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,938K shares representing 6.10% ownership of the company. In it's prior filing, the firm reported owning 1,941K shares, representing a decrease of 0.17%. The firm decreased its portfolio allocation in SJW by 10.97% over the last quarter.
SDY - SPDR(R) S&P(R) Dividend ETF holds 1,936K shares representing 6.10% ownership of the company. In it's prior filing, the firm reported owning 1,870K shares, representing an increase of 3.41%. The firm decreased its portfolio allocation in SJW by 1.39% over the last quarter.
Cerity Partners holds 1,610K shares representing 5.07% ownership of the company. In it's prior filing, the firm reported owning 1,590K shares, representing an increase of 1.29%. The firm increased its portfolio allocation in SJW by 54.06% over the last quarter.
Amundi holds 1,131K shares representing 3.56% ownership of the company. In it's prior filing, the firm reported owning 1,005K shares, representing an increase of 11.10%. The firm decreased its portfolio allocation in SJW by 4.33% over the last quarter.
Invesco holds 890K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 1,285K shares, representing a decrease of 44.50%. The firm increased its portfolio allocation in SJW by 547.06% over the last quarter.
SJW Group Background Information
(This description is provided by the company.)
SJW Group is the second-largest investor-owned pure-play water and wastewater utility, based on estimated rate base, in the United States, providing lifesaving and high-quality water service to nearly 1.5 million people. SJW Group's locally led and operated water utilities - San Jose Water Company in California, The Connecticut Water Company in Connecticut, The Maine Water Company in Maine, and SJWTX, Inc. (dba Canyon Lake Water Service Company) in Texas - possess the financial strength, operational expertise, and technological innovation to safeguard the environment, deliver outstanding service to customers, and provide opportunities to employees. SJW Group remains focused on investing in its operations, remaining actively engaged in its local communities, and delivering continued sustainable value to its shareholders.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
