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, now H2O America, reports developments tied to its role as a national investor-owned water and wastewater utility. Company news commonly covers regulated water operations, rate structures, infrastructure investment, customer assistance programs, dividends, and financial results across local utility subsidiaries such as San Jose Water, Connecticut Water, and Maine Water.
Updates also include public-utility regulatory decisions, leadership and finance appointments, operational efficiency initiatives, and the completed corporate rebrand from SJW Group to H2O America with a new Nasdaq ticker. Subsidiary news highlights drinking-water collection, treatment, and distribution systems serving homes, businesses, and fire-protection customers in regulated service territories.
Connecticut Water, a subsidiary of SJW Group (NYSE: SJW), has filed an application with the Connecticut Public Utilities Regulatory Authority (PURA) to amend customer rates. This move follows over $265 million in infrastructure investments since 2010. If approved, annual revenues would increase by approximately $20.2 million (19.9%). A typical residential customer may see a rate hike of about 35 cents per day. The proposal includes a low-income discount and conservation-oriented rate tiers. The process allows public comment and PURA has 200 days for review.
San Jose Water Company, a subsidiary of SJW Group (NYSE: SJW), has filed its 2021 General Rate Case application with the California Public Utilities Commission. The proposal includes a $435 million capital investment plan aimed at enhancing water system safety and resilience, essential for over one million customers. Key projects involve replacing 72 miles of water mains and improving emergency preparedness for various challenges. The CPUC will review the application over the next 12 months, ensuring reasonable rates while allowing for necessary infrastructure investments.
SJW Group reported a strong Q3 2020, posting a net income of $26.1 million, up from $9.5 million in Q3 2019. Diluted EPS rose to $0.91 from $0.33. The increase in operating revenue to $165.9 million was primarily driven by the CTWS merger, contributing $37.1 million, alongside higher customer usage and water rate increases. However, operating expenses increased to $124.0 million, leading to rising costs in water production and general operations. The company reaffirmed its earnings guidance of $1.95 to $2.05 per share for 2020.
SJW Group (NYSE:SJW) has declared a quarterly cash dividend of $0.32 per share, payable on December 1 to shareholders of record by the close of business on November 9. This marks the company's 309th consecutive dividend payment and reflects 53 years of uninterrupted dividend increases, positioning SJW among an exclusive group on the NYSE. The annualized dividend amounts to $1.28 per share, with a current dividend yield of 2.0% based on the market closing price from October 27.
SJW Group (NYSE:SJW) announced it will release its third-quarter 2020 financial results after market close on Nov. 4, 2020. A live webcast is scheduled for Nov. 5, 2020, at 8:00 a.m. PT to review these results. SJW Group, the second-largest investor-owned water utility in the U.S., serves nearly 1.5 million people and emphasizes sustainable operations, community engagement, and shareholder value. Stakeholders can access the webcast at www.sjwgroup.com.
SJW Group has announced that its subsidiary, SJWTX Inc., intends to acquire the Clear Water Estates Water System in Canyon Lake, Texas. The application for this acquisition is under review by the Public Utilities Commission of Texas (PUCT) as the first case to apply the Fair Market Value legislation. This strategic move aims to enhance service quality and expand customer base, as Clear Water Estates has additional water resources for community growth. If approved, this will mark SJWTX's 13th acquisition since 2006, increasing its customer connections significantly.