South Jersey Industries Inc (SJI) Receives Consensus Rating of “Hold” from Brokerages

Shares of South Jersey Industries Inc (NYSE:SJI) have been assigned a consensus rating of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $35.83.

A number of equities research analysts have recently issued reports on SJI shares. JPMorgan Chase & Co. upped their price target on South Jersey Industries from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Janney Montgomery Scott restated a “buy” rating on shares of South Jersey Industries in a research report on Tuesday, October 17th. Williams Capital upgraded South Jersey Industries from a “hold” rating to a “buy” rating and upped their price target for the company from $36.00 to $37.00 in a research report on Tuesday, October 17th. Zacks Investment Research lowered South Jersey Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Finally, Morgan Stanley lowered their price objective on South Jersey Industries from $40.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 13th.

Institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of South Jersey Industries by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,025 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 262 shares during the last quarter. Swiss National Bank boosted its position in South Jersey Industries by 1.8% during the 2nd quarter. Swiss National Bank now owns 132,909 shares of the utilities provider’s stock worth $4,542,000 after purchasing an additional 2,300 shares during the period. JPMorgan Chase & Co. boosted its position in South Jersey Industries by 60.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 143,872 shares of the utilities provider’s stock worth $4,916,000 after purchasing an additional 54,324 shares during the period. Riverhead Capital Management LLC boosted its position in South Jersey Industries by 81.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,992 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 2,692 shares during the period. Finally, Teachers Advisors LLC boosted its position in South Jersey Industries by 1.9% during the 2nd quarter. Teachers Advisors LLC now owns 180,722 shares of the utilities provider’s stock worth $6,175,000 after purchasing an additional 3,301 shares during the period. Institutional investors own 70.35% of the company’s stock.

Shares of South Jersey Industries (NYSE SJI) traded down $0.50 during mid-day trading on Friday, hitting $29.50. The stock had a trading volume of 521,800 shares, compared to its average volume of 436,133. The firm has a market cap of $2,350.00, a PE ratio of 61.46, a PEG ratio of 2.09 and a beta of 0.71. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 0.97. South Jersey Industries has a fifty-two week low of $29.04 and a fifty-two week high of $38.40.

South Jersey Industries (NYSE:SJI) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). The company had revenue of $227.13 million during the quarter, compared to analyst estimates of $222.92 million. South Jersey Industries had a net margin of 3.13% and a return on equity of 7.16%. research analysts expect that South Jersey Industries will post 1.16 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Monday, December 11th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.80%. This is a positive change from South Jersey Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, December 8th. South Jersey Industries’s dividend payout ratio is presently 233.33%.

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About South Jersey Industries

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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