Morgan Stanley Cuts South Jersey Industries (SJI) Price Target to $30.00

South Jersey Industries (NYSE:SJI) had its target price decreased by Morgan Stanley from $35.00 to $30.00 in a research note published on Tuesday morning. Morgan Stanley currently has an equal weight rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on SJI. Zacks Investment Research downgraded shares of South Jersey Industries from a hold rating to a sell rating in a research report on Wednesday, November 8th. Guggenheim reiterated a hold rating and issued a $32.00 price target on shares of South Jersey Industries in a research report on Wednesday, January 3rd. Hilliard Lyons downgraded shares of South Jersey Industries from a buy rating to a hold rating in a research report on Monday, January 22nd. Sidoti downgraded shares of South Jersey Industries from a buy rating to a neutral rating and set a $34.00 price target for the company. in a research report on Monday, January 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of South Jersey Industries from $35.00 to $31.00 and set a neutral rating for the company in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $34.00.

Shares of South Jersey Industries (NYSE SJI) opened at $26.56 on Tuesday. 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 stock has a market cap of $2,099.30, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 1.82 and a beta of 0.58. South Jersey Industries has a 1 year low of $26.19 and a 1 year high of $38.40.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Monday, March 19th will be given a $0.28 dividend. The ex-dividend date is Friday, March 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.22%. South Jersey Industries’s payout ratio is 233.34%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SJI. Victory Capital Management Inc. raised its position in shares of South Jersey Industries by 49.6% in the third quarter. Victory Capital Management Inc. now owns 1,059,927 shares of the utilities provider’s stock valued at $36,599,000 after buying an additional 351,628 shares in the last quarter. Macquarie Group Ltd. raised its position in South Jersey Industries by 30.9% during the fourth quarter. Macquarie Group Ltd. now owns 1,419,647 shares of the utilities provider’s stock valued at $44,336,000 after purchasing an additional 335,372 shares in the last quarter. BlackRock Inc. raised its position in South Jersey Industries by 3.0% during the fourth quarter. BlackRock Inc. now owns 10,184,899 shares of the utilities provider’s stock valued at $318,072,000 after purchasing an additional 294,094 shares in the last quarter. Kennedy Capital Management Inc. raised its position in South Jersey Industries by 126.6% during the fourth quarter. Kennedy Capital Management Inc. now owns 525,672 shares of the utilities provider’s stock valued at $16,417,000 after purchasing an additional 293,703 shares in the last quarter. Finally, Peregrine Capital Management LLC acquired a new position in South Jersey Industries during the fourth quarter valued at approximately $5,915,000. Institutional investors own 69.52% 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).

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

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