South Jersey Industries Inc. (SJI) Shares Gap Up to $29.32
South Jersey Industries Inc. (NYSE:SJI) gapped up prior to trading on Tuesday . The stock had previously closed at $29.26, but opened at $29.32. South Jersey Industries shares last traded at $29.51, with a volume of 78,028 shares changing hands.
SJI has been the subject of several analyst reports. Zacks Investment Research upgraded shares of South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. JPMorgan Chase & Co. initiated coverage on shares of South Jersey Industries in a research note on Tuesday, June 14th. They issued a “neutral” rating and a $31.00 price target for the company. Janney Montgomery Scott lowered shares of South Jersey Industries from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 28th. Finally, Morgan Stanley initiated coverage on shares of South Jersey Industries in a research note on Thursday, September 8th. They issued an “equal weight” rating and a $32.00 price target for the company. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. South Jersey Industries has a consensus rating of “Buy” and an average price target of $32.50.
The company has a 50 day moving average price of $30.15 and a 200-day moving average price of $29.32. The stock has a market cap of $2.33 billion, a P/E ratio of 20.71 and a beta of 0.67.
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South Jersey Industries (NYSE:SJI) last released its earnings results on Friday, August 5th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.02. South Jersey Industries had a return on equity of 9.56% and a net margin of 11.45%. The firm had revenue of $154.40 million for the quarter, compared to the consensus estimate of $177.83 million. During the same period in the prior year, the business earned $0.03 EPS. On average, equities analysts forecast that South Jersey Industries Inc. will post $1.31 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Friday, September 9th will be given a $0.2638 dividend. This represents a $1.06 annualized dividend and a yield of 3.60%. The ex-dividend date is Wednesday, September 7th. South Jersey Industries’s dividend payout ratio is currently 72.92%.
Several institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its stake in South Jersey Industries by 3.2% in the second quarter. Public Employees Retirement System of Ohio now owns 4,054 shares of the company’s stock valued at $128,000 after buying an additional 127 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in South Jersey Industries during the second quarter valued at $154,000. BlackRock Japan Co. Ltd bought a new stake in South Jersey Industries during the second quarter valued at $159,000. Sei Investments Co. bought a new stake in South Jersey Industries during the second quarter valued at $167,000. Finally, TD Asset Management Inc. bought a new stake in South Jersey Industries during the second quarter valued at $211,000. Institutional investors own 69.68% of the company’s stock.
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.
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