Morgan Stanley Lowers South Jersey Industries (SJI) Price Target to $37.00

South Jersey Industries (NYSE:SJI) had its target price dropped by Morgan Stanley from $40.00 to $37.00 in a research note issued on Wednesday. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 18.02% from the company’s current price.

SJI has been the subject of a number of other reports. Janney Montgomery Scott reiterated a “buy” rating on shares of South Jersey Industries in a research note on Tuesday, October 17th. BidaskClub cut shares of South Jersey Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Zacks Investment Research cut shares of South Jersey Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Williams Capital upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and lifted their target price for the company from $36.00 to $37.00 in a research note on Tuesday, October 17th. Finally, J P Morgan Chase & Co lifted their target price on shares of South Jersey Industries from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. One 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. The company has an average rating of “Hold” and a consensus price target of $37.25.

Shares of South Jersey Industries (SJI) opened at $31.35 on Wednesday. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 0.97. The company has a market cap of $2,556.71, a P/E ratio of 27.95, a P/E/G ratio of 2.74 and a beta of 0.71. South Jersey Industries has a fifty-two week low of $31.33 and a fifty-two week high of $38.40.

South Jersey Industries (NYSE:SJI) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). The company had revenue of $227.13 million for the quarter, compared to analyst estimates of $222.92 million. South Jersey Industries had a return on equity of 7.16% and a net margin of 3.13%. analysts anticipate that South Jersey Industries will post 1.17 EPS for the current year.

Several large investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new position in shares of South Jersey Industries in the third quarter valued at approximately $465,000. California Public Employees Retirement System raised its position in shares of South Jersey Industries by 14.5% in the third 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 period. Earnest Partners LLC raised its position in shares of South Jersey Industries by 1.5% in the third 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 period. AMP Capital Investors Ltd raised its position in shares of South Jersey Industries by 12.3% in the third 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 period. Finally, Stifel Financial Corp raised its position in shares of South Jersey Industries by 5.7% in the third 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 period. 70.38% of the stock is currently owned by institutional investors.

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About South Jersey Industries

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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