Williams Capital Upgrades South Jersey Industries, Inc. (NYSE:SJI) to Buy

Williams Capital upgraded shares of South Jersey Industries, Inc. (NYSE:SJI) from a hold rating to a buy rating in a report published on Tuesday, October 17th, MarketBeat reports. The brokerage currently has $37.00 price objective on the utilities provider’s stock, up from their prior price objective of $36.00.

Several other analysts have also recently weighed in on SJI. BidaskClub raised South Jersey Industries from a strong sell rating to a sell rating in a research report on Friday, August 11th. Morgan Stanley lifted their price objective on South Jersey Industries from $38.00 to $39.00 and gave the company an equal weight rating in a research report on Thursday, August 10th. Janney Montgomery Scott raised South Jersey Industries from a neutral rating to a buy rating in a research report on Tuesday, August 8th. They noted that the move was a valuation call. JPMorgan Chase & Co. lifted their price objective on South Jersey Industries from $32.00 to $35.00 and gave the company a neutral rating in a research report on Thursday, October 12th. Finally, Zacks Investment Research raised South Jersey Industries from a sell rating to a hold rating in a research report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $38.00.

South Jersey Industries (NYSE SJI) opened at 33.31 on Tuesday. The firm has a market capitalization of $2.64 billion, a P/E ratio of 30.93 and a beta of 0.75. The company’s 50-day moving average price is $34.74 and its 200-day moving average price is $35.30. South Jersey Industries has a 1-year low of $28.04 and a 1-year high of $38.40.

South Jersey Industries (NYSE:SJI) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $244.37 million for the quarter, compared to analysts’ expectations of $179.63 million. South Jersey Industries had a return on equity of 7.71% and a net margin of 7.02%. During the same period in the previous year, the firm posted $0.12 EPS. Equities research analysts expect that South Jersey Industries will post $1.18 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th were given a $0.273 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.28%. South Jersey Industries’s dividend payout ratio is currently 101.87%.

Several institutional investors and hedge funds have recently modified their holdings of SJI. UBS Asset Management Americas Inc. boosted its position in shares of South Jersey Industries by 118.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 62,058 shares of the utilities provider’s stock worth $2,212,000 after purchasing an additional 33,712 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of South Jersey Industries by 0.7% in the 1st quarter. Prudential Financial Inc. now owns 137,516 shares of the utilities provider’s stock worth $4,902,000 after purchasing an additional 960 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of South Jersey Industries by 8.6% in the 1st quarter. Alliancebernstein L.P. now owns 122,508 shares of the utilities provider’s stock worth $4,367,000 after purchasing an additional 9,700 shares in the last quarter. United Services Automobile Association bought a new stake in shares of South Jersey Industries in the 1st quarter worth approximately $858,000. Finally, OppenheimerFunds Inc. boosted its position in shares of South Jersey Industries by 34.8% in the 1st quarter. OppenheimerFunds Inc. now owns 23,974 shares of the utilities provider’s stock worth $855,000 after purchasing an additional 6,185 shares in the last quarter. 69.48% of the stock is currently owned by hedge funds and other institutional investors.

South Jersey Industries Company Profile

South Jersey Industries, Inc (SJI) is an energy services holding company. The Company provides a range of energy-related products and services, primarily through its subsidiaries. Its subsidiaries include South Jersey Gas Company (SJG), South Jersey Energy Company (SJE), South Jersey Resources Group, LLC (SJRG), South Jersey Exploration, LLC (SJEX), Marina Energy, LLC (Marina), South Jersey Energy Service Plus, LLC (SJESP) and SJI Midstream, LLC (Midstream).

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

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