SJW Group (NYSE:SJW) to Issue Quarterly Dividend of $0.40

SJW Group (NYSE:SJW) announced a quarterly dividend on Friday, October 25th, Zacks reports. Shareholders of record on Monday, November 4th will be paid 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 dividend yield of 2.92%. The ex-dividend date of this dividend is Monday, November 4th.

SJW Group has raised its dividend payment by an average of 5.9% per year over the last three years and has raised its dividend annually for the last 57 consecutive years. SJW Group has a dividend payout ratio of 54.2% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

SJW Group stock opened at $54.89 on Friday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.49 and a current ratio of 0.77. The stock has a fifty day moving average of $58.25 and a 200-day moving average of $56.92. SJW Group has a 52 week low of $51.17 and a 52 week high of $70.43. The stock has a market capitalization of $1.83 billion, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 3.37 and a beta of 0.63.

Analyst Upgrades and Downgrades

Several equities analysts have commented on SJW shares. StockNews.com cut shares of SJW Group from a “hold” rating to a “sell” rating in a research report on Tuesday. Bank of America started coverage on SJW Group in a report on Friday, September 20th. They issued a “neutral” rating and a $65.00 target price for the company. Finally, Wells Fargo & Company cut 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.

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.