Maxim Group reaffirmed their buy rating on shares of South Jersey Industries (NYSE:SJI) in a report published on Friday, AnalystRatings.com reports. The firm currently has a $40.00 price target on the utilities provider’s stock.
“After reviewing our forecasts before SJI’s 2Q19 earnings report on Wed 8/7, we reduce our 2Q19 EPS to ($0.08) from $0.04 and our 2019 EPS to $1.10 (from $1.12), based on higher natural gas utility management costs.”,” the firm’s analyst commented.
SJI has been the topic of several other research reports. Guggenheim upgraded shares of South Jersey Industries from a neutral rating to a buy rating and increased their price target for the stock from $32.00 to $35.00 in a report on Thursday, June 13th. ValuEngine upgraded South Jersey Industries from a hold rating to a buy rating in a research report on Monday, May 13th. Morgan Stanley set a $31.00 price objective on South Jersey Industries and gave the stock a hold rating in a research report on Thursday, May 16th. TheStreet upgraded South Jersey Industries from a c+ rating to a b- rating in a research report on Tuesday, July 9th. Finally, Zacks Investment Research lowered South Jersey Industries from a buy rating to a hold rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. South Jersey Industries currently has an average rating of Buy and a consensus target price of $35.43.
NYSE:SJI traded up $0.05 during midday trading on Friday, hitting $33.87. The company’s stock had a trading volume of 244,902 shares, compared to its average volume of 404,841. South Jersey Industries has a fifty-two week low of $26.06 and a fifty-two week high of $36.72. The company’s 50 day simple moving average is $33.63. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.41 and a current ratio of 0.43. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 4.44 and a beta of 0.71.
South Jersey Industries (NYSE:SJI) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.14. South Jersey Industries had a net margin of 3.40% and a return on equity of 8.66%. The company had revenue of $637.30 million for the quarter, compared to the consensus estimate of $571.00 million. On average, sell-side analysts anticipate that South Jersey Industries will post 1.1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 10th will be given a $0.287 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.15 annualized dividend and a yield of 3.39%. South Jersey Industries’s dividend payout ratio is presently 83.33%.
Institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its position in South Jersey Industries by 221.7% in the 1st quarter. Versant Capital Management Inc now owns 1,155 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 796 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of South Jersey Industries by 65.3% during the 2nd quarter. Advisory Services Network LLC now owns 1,190 shares of the utilities provider’s stock valued at $40,000 after buying an additional 470 shares in the last quarter. Pinnacle Financial Partners Inc. purchased a new position in shares of South Jersey Industries during the 1st quarter valued at approximately $61,000. Quadrant Capital Group LLC lifted its position in shares of South Jersey Industries by 720.2% during the 1st quarter. Quadrant Capital Group LLC now owns 2,116 shares of the utilities provider’s stock valued at $62,000 after buying an additional 1,858 shares in the last quarter. Finally, Coastal Investment Advisors Inc. lifted its position in shares of South Jersey Industries by 147.1% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,891 shares of the utilities provider’s stock valued at $99,000 after buying an additional 1,721 shares in the last quarter. Institutional investors and hedge funds own 82.98% of the company’s stock.
South Jersey Industries Company Profile
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.
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