South Jersey Industries, Inc. (NYSE:SJI) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Friday.

Several other research analysts also recently weighed in on the company. Janney Montgomery Scott upgraded South Jersey Industries from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. They noted that the move was a valuation call. Williams Capital upgraded South Jersey Industries from a “hold” rating to a “buy” rating and increased their target price for the company from $34.00 to $36.00 in a research report on Monday, July 17th. Zacks Investment Research upgraded South Jersey Industries from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Tuesday, May 2nd. Finally, Morgan Stanley raised their price target on South Jersey Industries from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $39.25.

South Jersey Industries (SJI) remained flat at $34.80 on Friday. The company’s stock had a trading volume of 258,227 shares. The company has a market cap of $2.76 billion, a P/E ratio of 32.31 and a beta of 0.77. South Jersey Industries has a one year low of $27.51 and a one year high of $38.40. The company has a 50 day moving average of $34.19 and a 200 day moving average of $35.07.

South Jersey Industries (NYSE:SJI) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. South Jersey Industries had a net margin of 7.02% and a return on equity of 7.71%. The firm had revenue of $244.37 million during the quarter, compared to analyst estimates of $179.63 million. During the same quarter in the prior year, the firm earned $0.12 EPS. Analysts forecast that South Jersey Industries will post $1.19 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in South Jersey Industries by 46,816.5% in the first quarter. BlackRock Inc. now owns 9,843,088 shares of the utilities provider’s stock worth $350,905,000 after buying an additional 9,822,108 shares during the period. Vanguard Group Inc. boosted its position in shares of South Jersey Industries by 6.7% in the first quarter. Vanguard Group Inc. now owns 7,609,432 shares of the utilities provider’s stock valued at $271,277,000 after buying an additional 474,868 shares in the last quarter. FMR LLC boosted its position in shares of South Jersey Industries by 1.2% in the second quarter. FMR LLC now owns 2,788,690 shares of the utilities provider’s stock valued at $95,290,000 after buying an additional 32,857 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of South Jersey Industries by 1.7% in the second quarter. Goldman Sachs Group Inc. now owns 2,352,293 shares of the utilities provider’s stock valued at $80,378,000 after buying an additional 40,310 shares in the last quarter. Finally, Earnest Partners LLC boosted its position in shares of South Jersey Industries by 1.3% in the second quarter. Earnest Partners LLC now owns 2,124,447 shares of the utilities provider’s stock valued at $72,592,000 after buying an additional 26,429 shares in the last quarter. 69.33% of the stock is owned by hedge funds and other institutional investors.

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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