TheStreet downgraded shares of South Jersey Industries (NYSE:SJI) from a b- rating to a c+ rating in a research note released on Wednesday.
Several other analysts have also recently commented on the stock. Williams Capital raised shares of South Jersey Industries from a hold rating to a buy rating and increased their price target for the company from $36.00 to $37.00 in a research note on Tuesday, October 17th. 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. JPMorgan Chase & Co. increased their price target 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. Janney Montgomery Scott restated a buy rating on shares of South Jersey Industries in a report on Tuesday, October 17th. Finally, Morgan Stanley cut their price objective on shares of South Jersey Industries from $40.00 to $37.00 and set an equal weight rating on the stock in a report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $35.83.
Shares of South Jersey Industries (NYSE:SJI) opened at $29.71 on Wednesday. South Jersey Industries has a 52 week low of $29.04 and a 52 week high of $38.40. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.38 and a current ratio of 0.47. The company has a market cap of $2,360.00, a P/E ratio of 61.90, a PEG ratio of 2.06 and a beta of 0.71.
South Jersey Industries (NYSE:SJI) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $222.92 million. analysts anticipate that South Jersey Industries will post 1.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Monday, December 11th were issued a $0.28 dividend. This is a positive change from South Jersey Industries’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Friday, December 8th. South Jersey Industries’s dividend payout ratio is currently 233.33%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Accurate Investment Solutions Inc. lifted its holdings in South Jersey Industries by 1.9% in the fourth quarter. Accurate Investment Solutions Inc. now owns 103,459 shares of the utilities provider’s stock valued at $3,231,000 after buying an additional 1,941 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in South Jersey Industries in the third quarter valued at approximately $465,000. California Public Employees Retirement System lifted its holdings in 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 buying an additional 16,345 shares during the period. Earnest Partners LLC lifted its holdings in 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 buying an additional 32,184 shares during the period. Finally, AMP Capital Investors Ltd lifted its holdings in 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 buying an additional 2,400 shares during the period. Institutional investors and hedge funds own 70.35% of the company’s stock.
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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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