Welcome to our dedicated page for Sjw Group news (Ticker: SJW), a resource for investors and traders seeking the latest updates and insights on Sjw Group stock.
SJW Group Common Stock (symbol: SJW) is a U.S.-based holding company that primarily offers water utility services. With headquarters in San Jose, California, the company is dedicated to providing, storing, purifying, and distributing water to several Californian municipalities, as well as other states across the nation. SJW Group operates through two main segments: Water Utility Services and Real Estate Services.
The Water Utility Services segment is the cornerstone of the company's operations, accounting for the majority of its revenue. This segment focuses on ensuring the reliable delivery of clean and safe water to residential, commercial, and industrial customers. SJW Group emphasizes stringent water quality standards and employs advanced purification technologies to meet regulatory requirements and customer expectations.
The Real Estate Services segment complements the water utility operations by managing the company's real estate assets. This includes the strategic acquisition, development, and leasing of properties to maximize value. While not the primary revenue driver, this segment provides additional financial stability and growth opportunities.
Recently, SJW Group has been involved in several key projects aimed at enhancing infrastructure and expanding service coverage. For example, the company has initiated upgrades to aging water pipelines and treatment facilities to improve efficiency and reliability. Additionally, SJW Group is exploring sustainable water sourcing options to address the challenges posed by climate change and growing demand.
Financially, SJW Group maintains a solid position with consistent revenue growth and prudent management of resources. The company has formed strategic partnerships to bolster its service offerings and enhance customer satisfaction. These collaborations often involve local governments, environmental agencies, and technology providers.
Overall, SJW Group is committed to upholding the highest standards in water utility services while exploring innovative solutions to meet future demands. Investors and stakeholders can feel confident in SJW Group's ability to adapt and thrive in a dynamic industry landscape.
The Board of Directors of SJW Group has declared a quarterly cash dividend of $0.36 per share, payable on March 1, 2022, to shareholders of record as of February 7, 2022. This represents a 5.9% increase compared to the December 2021 dividend, raising the annualized dividend to $1.44 from $1.36 in 2021. SJW Group has increased its dividend for 54 consecutive years and has a history of over 78 years of dividends, reflecting the board's confidence in the company's mission and long-term sustainability.
SJW Group (NYSE: SJW) has announced the acquisition of Texas Country Water, marking the fourth acquisition in Texas within the last year. This strategic move adds over 100 water customers and increases SJWTX's network to more than 24,000 service connections, reflecting a 20% growth in customer base. The company is investing $24.5 million in capital improvements for 2022 to enhance service reliability and quality. SJWTX operates in one of the fastest-growing regions between Austin and San Antonio, catering to a growing population.
SJW Group (NYSE: SJW) announced the acquisition of two water/wastewater utilities in Texas, Kendall West and Bandera East, enhancing its services for approximately 4,000 residents. This acquisition, comprising over 1,600 service connections, positions SJW in three of the fastest-growing U.S. counties. The company plans to invest $24.5 million in infrastructure improvements in 2022, but current customer rates will remain unchanged. This marks SJW's 14th acquisition since 2006, significantly expanding its operational footprint from 6,500 to over 23,900 service connections.
SJW Group (NYSE: SJW) announces the appointment of Becky Armendariz Klein to its Board of Directors, effective December 17, 2021. Klein, an independent board member, will serve on the Sustainability and Executive Compensation Committees. She brings extensive experience from her role as principal at Klein Energy, LLC and as a former chair of the Public Utilities Commission of Texas. Her background in energy and regulatory matters is expected to greatly benefit the company, which serves nearly 1.5 million customers.
SJW Group (NYSE: SJW), a leading investor-owned water and wastewater utility in the U.S., will present at the Bank of America Water Conference on Dec. 6, 2021, at 10:30 a.m. ET. CEO
SJW Group reported Q3 2021 net income of $19.1 million, down from $26.1 million a year prior, with diluted EPS of $0.64 compared to $0.91. Operating revenue increased to $166.9 million, attributed mainly to water rate hikes and regulatory mechanisms, though customer usage fell by $12.9 million. Operating expenses rose to $133.1 million, reflecting higher production costs and regulatory fees. Year-to-date, net income was $42.5 million compared to $48.2 million in 2020. The company maintains its earnings guidance of $1.85 to $2.05 per diluted share and declared a dividend of $0.34 per share.
SJW Group (NYSE: SJW) will release its third quarter 2021 financial results after market close on October 28, 2021. A webcast presentation will follow on October 29, 2021, at 10:00 a.m. PT. SJW Group, the second-largest investor-owned pure-play water utility in the U.S., serves nearly 1.5 million people through its various subsidiaries. The company focuses on sustainable value for shareholders, maintaining a commitment to operational excellence and community engagement.
SJW Group (NYSE: SJW), the second-largest investor-owned pure-play water and wastewater utility in the U.S., will present at the Janney Virtual Water Utilities Conference on Sept. 14, 2021, at 1:45 p.m. ET.
SJW Group CEO Eric Thornburg participated in a White House meeting focused on enhancing cybersecurity for utility providers, addressing the nation's public drinking water safety. The meeting included President Biden and leaders from major corporations like Apple and Microsoft. Thornburg emphasized the importance of collaboration between public and private sectors to mitigate cyber threats, aiming to safeguard vital water services across diverse operational regions, including Silicon Valley and Texas. SJW Group serves nearly 1.5 million customers and is committed to investing in sustainable value.
FAQ
What is the current stock price of Sjw Group (SJW)?
What is the market cap of Sjw Group (SJW)?
What does SJW Group primarily do?
What are the main segments of SJW Group's operations?
Where is SJW Group headquartered?
How does SJW Group ensure water quality?
What recent projects has SJW Group undertaken?
How does the Real Estate Services segment contribute to SJW Group?
What strategic partnerships has SJW Group formed?
How is SJW Group addressing climate change?
What is the financial outlook of SJW Group?
How can I invest in SJW Group?
