South Jersey Industries, Inc. (NYSE:SJI) had its target price lifted by stock analysts at Morgan Stanley from $39.00 to $40.00 in a report released on Friday. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential upside of 13.51% from the stock’s current price.

Other equities analysts also recently issued reports about the company. BidaskClub downgraded South Jersey Industries from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded South Jersey Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Williams Capital raised South Jersey Industries from a “hold” rating to a “buy” rating and lifted their target price for the stock from $34.00 to $36.00 in a report on Monday, July 17th. Finally, Janney Montgomery Scott raised South Jersey Industries from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. South Jersey Industries presently has an average rating of “Hold” and an average price target of $39.50.

Shares of South Jersey Industries (NYSE SJI) traded up 1.44% during midday trading on Friday, reaching $35.47. The company had a trading volume of 210,321 shares. The company has a 50-day moving average price of $34.91 and a 200 day moving average price of $35.32. The company has a market capitalization of $2.81 billion, a P/E ratio of 32.93 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.

South Jersey Industries (NYSE:SJI) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.06 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.06. The business had revenue of $244.37 million during the quarter, compared to analyst estimates of $179.63 million. South Jersey Industries had a return on equity of 7.71% and a net margin of 7.02%. During the same quarter last year, the company earned $0.12 EPS. Equities analysts anticipate that South Jersey Industries will post $1.19 earnings per share for the current fiscal year.

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Several institutional investors and hedge funds have recently modified their holdings of SJI. Phocas Financial Corp. increased its position in shares of South Jersey Industries by 80.8% in the 2nd quarter. Phocas Financial Corp. now owns 272,684 shares of the utilities provider’s stock valued at $9,318,000 after acquiring an additional 121,858 shares during the period. WFG Advisors LP grew its position in South Jersey Industries by 8.0% during the 2nd quarter. WFG Advisors LP now owns 3,153 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 234 shares during the period. Public Employees Retirement System of Ohio grew its position in South Jersey Industries by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,585 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 29 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in South Jersey Industries during the 2nd quarter worth about $587,000. Finally, Robecosam AG grew its position in South Jersey Industries by 3.8% during the 2nd quarter. Robecosam AG now owns 135,000 shares of the utilities provider’s stock worth $4,625,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 69.48% 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 (Midstream).

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

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