South Jersey Industries Inc. (NYSE:SJI) Receives Average Rating of “Buy” from Brokerages
Shares of South Jersey Industries Inc. (NYSE:SJI) have earned a consensus recommendation of “Buy” from the ten research firms that are currently covering the firm. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $32.50.
A number of equities research analysts have weighed in on SJI shares. Morgan Stanley initiated coverage on South Jersey Industries in a report on Thursday, September 8th. They issued an “equal weight” rating and a $32.00 target price for the company. Zacks Investment Research upgraded South Jersey Industries from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Janney Montgomery Scott downgraded South Jersey Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. initiated coverage on South Jersey Industries in a report on Tuesday, June 14th. They set a “neutral” rating and a $31.00 price objective for the company.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its position in shares of 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 purchased a new position in shares of South Jersey Industries during the second quarter valued at about $154,000. BlackRock Japan Co. Ltd purchased a new position in shares of South Jersey Industries during the second quarter valued at about $159,000. Sei Investments Co. purchased a new position in shares of South Jersey Industries during the second quarter valued at about $167,000. Finally, TD Asset Management Inc. purchased a new position in shares of South Jersey Industries during the second quarter valued at about $211,000. 69.68% of the stock is owned by hedge funds and other institutional investors.
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South Jersey Industries (NYSE:SJI) traded down 0.75% during midday trading on Friday, hitting $27.70. The stock had a trading volume of 133,663 shares. South Jersey Industries has a 1-year low of $21.24 and a 1-year high of $32.03. The stock’s 50-day moving average is $29.67 and its 200-day moving average is $29.53. The stock has a market capitalization of $2.20 billion, a PE ratio of 19.55 and a beta of 0.70.
South Jersey Industries (NYSE:SJI) last issued its earnings results on Friday, August 5th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.02. The business earned $154.40 million during the quarter, compared to the consensus estimate of $177.83 million. South Jersey Industries had a return on equity of 9.56% and a net margin of 11.45%. During the same quarter in the previous year, the firm posted $0.03 earnings per share. On average, equities research analysts anticipate that South Jersey Industries will post $1.30 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Friday, September 9th were given a $0.2638 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Wednesday, September 7th. South Jersey Industries’s dividend payout ratio is currently 72.92%.
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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