South Jersey Industries (NYSE:SJI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, November 17th.
According to Zacks, “South Jersey Inds Inc. is engaged in the business of operating, through subsidiaries, various business enterprises. The company’s most significant subsidiary is South Jersey Gas Company (SJG). SJG is a public utility company engaged in the purchase, transmission and sale of natural gas for residential, commercial and industrial use. SJG also makes off-system sales of natural gas on a wholesale basis to various customers on the interstate pipeline system and transports natural gas. “
Other equities research analysts have also recently issued reports about the company. Morgan Stanley lifted their target price on South Jersey Industries from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, September 8th. Williams Capital raised South Jersey Industries from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $37.00 in a research note on Tuesday, October 17th. Janney Montgomery Scott reaffirmed a “buy” rating on shares of South Jersey Industries in a research note on Tuesday, October 17th. J P Morgan Chase & Co upped their target price on South Jersey Industries from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Finally, BidaskClub downgraded South Jersey Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $38.00.
Shares of South Jersey Industries (NYSE:SJI) traded down $0.14 during midday trading on Friday, reaching $33.68. The company’s stock had a trading volume of 258,795 shares, compared to its average volume of 335,106. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.47 and a quick ratio of 0.38. The company has a market cap of $2,680.00, a price-to-earnings ratio of 29.41, a P/E/G ratio of 3.81 and a beta of 0.70. South Jersey Industries has a fifty-two week low of $31.39 and a fifty-two week high of $38.40.
South Jersey Industries (NYSE:SJI) last issued its earnings results on Thursday, November 2nd. The utilities provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). South Jersey Industries had a net margin of 3.13% and a return on equity of 7.16%. The company had revenue of $227.13 million for the quarter, compared to analysts’ expectations of $222.92 million. sell-side analysts expect that South Jersey Industries will post 1.18 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC acquired a new stake in South Jersey Industries in the 3rd quarter valued at approximately $465,000. California Public Employees Retirement System increased its holdings in South Jersey Industries by 14.5% in the 3rd quarter. California Public Employees Retirement System now owns 128,845 shares of the utilities provider’s stock valued at $4,449,000 after purchasing an additional 16,345 shares during the last quarter. Earnest Partners LLC increased its holdings in South Jersey Industries by 1.5% in the 3rd quarter. Earnest Partners LLC now owns 2,156,631 shares of the utilities provider’s stock valued at $74,468,000 after purchasing an additional 32,184 shares during the last quarter. AMP Capital Investors Ltd increased its holdings in South Jersey Industries by 12.3% in the 3rd quarter. AMP Capital Investors Ltd now owns 21,876 shares of the utilities provider’s stock valued at $755,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in South Jersey Industries by 5.7% in the 3rd quarter. Stifel Financial Corp now owns 403,183 shares of the utilities provider’s stock valued at $13,926,000 after purchasing an additional 21,573 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.
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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).
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