South Jersey Industries (NYSE:SJI) has been given a $36.00 price target by equities research analysts at Morgan Stanley in a research note issued to investors on Thursday. The brokerage presently has a “hold” rating on the utilities provider’s stock. Morgan Stanley’s price objective points to a potential upside of 4.80% from the stock’s current price.
A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of South Jersey Industries from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. JPMorgan Chase & Co. raised shares of South Jersey Industries from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $34.00 to $38.00 in a research report on Tuesday, September 11th. TheStreet downgraded shares of South Jersey Industries from a “b+” rating to a “c+” rating in a research report on Thursday, August 9th. Bank of America started coverage on shares of South Jersey Industries in a report on Monday, July 30th. They issued a “neutral” rating and a $34.00 price objective for the company. Finally, ValuEngine raised shares of South Jersey Industries from a “hold” rating to a “buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.00.
SJI stock opened at $34.35 on Thursday. South Jersey Industries has a twelve month low of $25.96 and a twelve month high of $36.72. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.15 and a quick ratio of 1.12. The company has a market cap of $3.02 billion, a PE ratio of 28.67, a P/E/G ratio of 1.80 and a beta of 0.49.
South Jersey Industries (NYSE:SJI) last released its quarterly earnings results on Wednesday, August 8th. The utilities provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. South Jersey Industries had a negative net margin of 1.22% and a positive return on equity of 11.36%. The business had revenue of $227.33 million during the quarter, compared to the consensus estimate of $254.54 million. During the same quarter last year, the company earned $0.06 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, analysts anticipate that South Jersey Industries will post 1.6 EPS for the current year.
In other South Jersey Industries news, Director Sunita Holzer acquired 1,500 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was purchased at an average price of $32.88 per share, with a total value of $49,320.00. Following the completion of the acquisition, the director now directly owns 25,866 shares in the company, valued at approximately $850,474.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.64% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in SJI. FMR LLC boosted its holdings in South Jersey Industries by 79.9% in the second quarter. FMR LLC now owns 3,725,457 shares of the utilities provider’s stock worth $124,692,000 after purchasing an additional 1,655,127 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in South Jersey Industries in the second quarter valued at $51,568,000. BlackRock Inc. lifted its stake in South Jersey Industries by 14.7% in the second quarter. BlackRock Inc. now owns 11,859,599 shares of the utilities provider’s stock valued at $396,941,000 after buying an additional 1,523,108 shares during the last quarter. Millennium Management LLC lifted its stake in South Jersey Industries by 133.6% in the second quarter. Millennium Management LLC now owns 679,434 shares of the utilities provider’s stock valued at $22,741,000 after buying an additional 388,535 shares during the last quarter. Finally, Hillcrest Asset Management LLC bought a new stake in South Jersey Industries in the second quarter valued at $11,676,000. 85.10% of the stock is owned by hedge funds and other institutional investors.
About South Jersey Industries
South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company engages in the purchase, transmission, and sale of natural gas. It also sells natural gas and pipeline transportation capacity on a wholesale basis to residential, commercial, and industrial customers on the interstate pipeline system, as well as transports natural gas, which is purchased directly from producers or suppliers to their customers.
Read More: Hedge Funds
Receive News & Ratings for South Jersey Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South Jersey Industries and related companies with MarketBeat.com's FREE daily email newsletter.