SJW Group (NYSE:SJW) to Issue Quarterly Dividend of $0.32

SJW Group (NYSE:SJW) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Monday, August 10th will be paid a dividend of 0.32 per share by the utilities provider on Tuesday, September 1st. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, August 7th.

SJW Group has raised its dividend payment by an average of 48.2% per year over the last three years and has raised its dividend every year for the last 52 years. SJW Group has a dividend payout ratio of 58.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect SJW Group to earn $2.47 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 51.8%.

SJW stock traded down $0.55 during midday trading on Friday, reaching $63.02. 668 shares of the company’s stock traded hands, compared to its average volume of 95,388. The company has a market capitalization of $1.80 billion, a P/E ratio of 92.13, a PEG ratio of 2.27 and a beta of 0.27. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.54 and a quick ratio of 0.54. SJW Group has a fifty-two week low of $45.60 and a fifty-two week high of $74.99. The business has a 50-day moving average price of $62.54 and a two-hundred day moving average price of $63.58.

SJW Group (NYSE:SJW) last announced its quarterly earnings results on Monday, May 4th. The utilities provider reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.26). SJW Group had a net margin of 4.35% and a return on equity of 4.67%. The business had revenue of $115.75 million for the quarter, compared to analyst estimates of $104.80 million. As a group, research analysts forecast that SJW Group will post 2.05 earnings per share for the current fiscal year.

A number of research firms have recently commented on SJW. Royal Bank of Canada began coverage on shares of SJW Group in a research report on Friday, April 24th. They set an “outperform” rating and a $68.00 target price on the stock. Seaport Global Securities began coverage on shares of SJW Group in a research report on Wednesday, May 20th. They set a “neutral” rating on the stock. Wells Fargo & Co reduced their target price on shares of SJW Group from $78.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Finally, Zacks Investment Research raised shares of SJW Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 22nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $70.83.

SJW Group Company Profile

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.

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Dividend History for SJW Group (NYSE:SJW)

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