South Jersey Industries (SJI) Receives Hold Rating from Guggenheim

South Jersey Industries (NYSE:SJI)‘s stock had its “hold” rating reiterated by equities researchers at Guggenheim in a research report issued to clients and investors on Wednesday. They presently have a $32.00 target price on the utilities provider’s stock. Guggenheim’s target price would suggest a potential upside of 2.70% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Janney Montgomery Scott reissued a “buy” rating on shares of South Jersey Industries in a report on Tuesday, October 17th. Williams Capital cut South Jersey Industries from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a report on Monday, September 18th. Morgan Stanley lowered their price target on South Jersey Industries from $40.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 13th. Zacks Investment Research raised South Jersey Industries from a “sell” rating to a “hold” rating in a report on Friday, November 17th. Finally, JPMorgan Chase & Co. boosted their price target on South Jersey Industries from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $36.20.

South Jersey Industries (NYSE:SJI) traded down $0.07 during mid-day trading on Wednesday, hitting $31.16. The stock had a trading volume of 544,100 shares, compared to its average volume of 438,250. South Jersey Industries has a 12-month low of $30.75 and a 12-month high of $38.40. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 0.97. The stock has a market cap of $2,484.32, a PE ratio of 64.92, a P/E/G ratio of 2.17 and a beta of 0.71.

South Jersey Industries (NYSE:SJI) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported ($0.05) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.04). South Jersey Industries had a return on equity of 7.16% and a net margin of 3.13%. The business had revenue of $227.13 million during the quarter, compared to analysts’ expectations of $222.92 million. equities analysts forecast that South Jersey Industries will post 1.17 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of South Jersey Industries during the 3rd quarter worth approximately $465,000. California Public Employees Retirement System raised its holdings in shares of South Jersey Industries by 14.5% during the 3rd quarter. California Public Employees Retirement System now owns 128,845 shares of the utilities provider’s stock worth $4,449,000 after acquiring an additional 16,345 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of South Jersey Industries by 1.5% during the 3rd quarter. Earnest Partners LLC now owns 2,156,631 shares of the utilities provider’s stock worth $74,468,000 after acquiring an additional 32,184 shares in the last quarter. AMP Capital Investors Ltd raised its holdings in shares of South Jersey Industries by 12.3% during the 3rd quarter. AMP Capital Investors Ltd now owns 21,876 shares of the utilities provider’s stock worth $755,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of South Jersey Industries by 5.7% during the 3rd quarter. Stifel Financial Corp now owns 403,183 shares of the utilities provider’s stock valued at $13,926,000 after purchasing an additional 21,573 shares during the last quarter. 70.35% of the stock is currently owned by institutional investors and hedge funds.

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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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