South Jersey Industries (SJI) Downgraded to “Hold” at Hilliard Lyons

South Jersey Industries (NYSE:SJI) was downgraded by analysts at Hilliard Lyons from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Several other equities research analysts have also recently issued reports on the stock. TheStreet cut shares of South Jersey Industries from a “b-” rating to a “c+” rating in a research report on Wednesday, January 10th. Sidoti cut shares of South Jersey Industries from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Monday, January 8th. Guggenheim reaffirmed a “hold” rating and set a $32.00 price objective on shares of South Jersey Industries in a research report on Wednesday, January 3rd. Morgan Stanley decreased their price objective on shares of 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. Finally, Zacks Investment Research raised shares of South Jersey Industries from a “sell” rating to a “hold” rating in a research report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. South Jersey Industries has an average rating of “Hold” and a consensus price target of $35.83.

South Jersey Industries (NYSE SJI) traded down $0.21 during trading on Monday, hitting $29.29. 450,600 shares of the stock traded hands, compared to its average volume of 437,246. The stock has a market cap of $2,330.00, a PE ratio of 61.02, a P/E/G ratio of 2.04 and a beta of 0.71. South Jersey Industries has a 1-year low of $29.04 and a 1-year 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.

South Jersey Industries (NYSE:SJI) last released 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 firm had revenue of $227.13 million for the quarter, compared to analysts’ expectations of $222.92 million. South Jersey Industries had a return on equity of 7.16% and a net margin of 3.13%. sell-side analysts expect that South Jersey Industries will post 1.16 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in SJI. Victory Capital Management Inc. lifted its position in South Jersey Industries by 49.6% in the third quarter. Victory Capital Management Inc. now owns 1,059,927 shares of the utilities provider’s stock valued at $36,599,000 after acquiring an additional 351,628 shares during the last quarter. Macquarie Group Ltd. lifted its position in South Jersey Industries by 41.5% in the second quarter. Macquarie Group Ltd. now owns 974,820 shares of the utilities provider’s stock valued at $33,310,000 after acquiring an additional 286,007 shares during the last quarter. Wells Fargo & Company MN lifted its position in South Jersey Industries by 9.4% in the third quarter. Wells Fargo & Company MN now owns 1,907,795 shares of the utilities provider’s stock valued at $65,876,000 after acquiring an additional 164,517 shares during the last quarter. Northern Trust Corp lifted its position in South Jersey Industries by 8.7% in the second quarter. Northern Trust Corp now owns 1,665,298 shares of the utilities provider’s stock valued at $56,904,000 after acquiring an additional 133,720 shares during the last quarter. Finally, Phocas Financial Corp. lifted its position in South Jersey Industries by 80.8% in the second 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 last quarter. 70.35% of the stock is owned by hedge funds and other institutional investors.

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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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