SJW Group (SJW) Declares $0.38 Dividend

SJW Group said on July 31, 2023 that its board of directors declared a regular quarterly dividend of $0.38 per share ($1.52 annualized). Previously, the company paid $0.38 per share.

Shareholders of record as of August 7, 2023 will receive the payment on September 1, 2023.

At the current share price of $68.82 / share, the stock's dividend yield is 2.21%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.00%, the lowest has been 1.61%, and the highest has been 2.59%. The standard deviation of yields is 0.18 (n=236).

The current dividend yield is 1.17 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 501 funds or institutions reporting positions in SJW Group. This is an increase of 7 owner(s) or 1.42% in the last quarter. Average portfolio weight of all funds dedicated to SJW is 0.18%, a decrease of 8.23%. Total shares owned by institutions decreased in the last three months by 5.58% to 28,791K shares. The put/call ratio of SJW is 0.63, indicating a bullish outlook.

Analyst Price Forecast Suggests 21.53% Upside

As of August 2, 2023, the average one-year price target for SJW Group is 83.64. The forecasts range from a low of 72.72 to a high of $97.65. The average price target represents an increase of 21.53% from its latest reported closing price of 68.82.

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.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 1,941K shares representing 6.11% ownership of the company. In it's prior filing, the firm reported owning 1,976K shares, representing a decrease of 1.80%. The firm decreased its portfolio allocation in SJW by 10.51% over the last quarter.

SDY - SPDR(R) S&P(R) Dividend ETF holds 1,870K shares representing 5.89% ownership of the company.

Cerity Partners holds 1,590K shares representing 5.00% ownership of the company. In it's prior filing, the firm reported owning 1,590K shares, representing an increase of 0.00%. The firm decreased its portfolio allocation in SJW by 65.47% over the last quarter.

Invesco holds 1,285K shares representing 4.05% ownership of the company. In it's prior filing, the firm reported owning 748K shares, representing an increase of 41.81%. The firm decreased its portfolio allocation in SJW by 85.79% over the last quarter.

Nuance Investments holds 1,088K shares representing 3.43% ownership of the company. In it's prior filing, the firm reported owning 1,720K shares, representing a decrease of 58.07%. The firm increased its portfolio allocation in SJW by 59,899.21% 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.

Additional reading:

• FIRST AMENDMENT TO CREDIT AGREEMENT
• SJW Group Announces 2023 Second Quarter Financial Results and Declares Dividend
• Transition and Separation Agreement and Release, dated July 6, 2023, by Andrew R. Gere and San Jose Water Company.
• SJW Group Announces 2023 First Quarter Financial Results, Reaffirms 2023 Guidance, and Declares Dividend
• J.P. Morgan Securities LLC, Janney Montgomery Scott LLC, RBC Capital Markets, LLC

This story originally appeared on Fintel.