Brokerages Anticipate South Jersey Industries Inc (SJI) to Post $0.41 Earnings Per Share

Wall Street brokerages forecast that South Jersey Industries Inc (NYSE:SJI) will report earnings of $0.41 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for South Jersey Industries’ earnings. South Jersey Industries reported earnings of $0.42 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 2.4%. The firm is scheduled to issue its next earnings report on Thursday, February 22nd.

On average, analysts expect that South Jersey Industries will report full year earnings of $1.16 per share for the current financial year, with EPS estimates ranging from $1.14 to $1.21. For the next year, analysts forecast that the business will report earnings of $1.45 per share, with EPS estimates ranging from $1.42 to $1.47. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover South Jersey Industries.

A number of research firms recently weighed in on SJI. Sidoti lowered shares of South Jersey Industries from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a report on Monday, January 8th. Zacks Investment Research cut shares of South Jersey Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Guggenheim reiterated a “hold” rating and set a $32.00 price objective on shares of South Jersey Industries in a research report on Wednesday, January 3rd. TheStreet cut shares of South Jersey Industries from a “b-” rating to a “c+” rating in a research report on Wednesday, January 10th. Finally, Morgan Stanley cut their price objective on shares of South Jersey Industries from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $35.17.

Institutional investors and hedge funds have recently modified their holdings of the company. UBS Asset Management Americas Inc. lifted its position in shares of South Jersey Industries by 0.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 62,487 shares of the utilities provider’s stock valued at $2,135,000 after buying an additional 429 shares in the last quarter. California Public Employees Retirement System lifted its stake in South Jersey Industries by 1.4% in the 2nd quarter. California Public Employees Retirement System now owns 112,500 shares of the utilities provider’s stock valued at $3,844,000 after purchasing an additional 1,600 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in South Jersey Industries by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,527,207 shares of the utilities provider’s stock valued at $52,185,000 after purchasing an additional 12,435 shares during the last quarter. Voya Investment Management LLC lifted its stake in South Jersey Industries by 14.9% in the 2nd quarter. Voya Investment Management LLC now owns 37,330 shares of the utilities provider’s stock valued at $1,276,000 after purchasing an additional 4,852 shares during the last quarter. Finally, Balyasny Asset Management LLC acquired a new stake in South Jersey Industries in the 2nd quarter valued at about $1,119,000. 69.52% of the stock is owned by hedge funds and other institutional investors.

South Jersey Industries (NYSE:SJI) traded up $0.12 on Monday, reaching $27.35. 185,561 shares of the company’s stock traded hands, compared to its average volume of 494,399. South Jersey Industries has a 12-month low of $26.41 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 company has a market capitalization of $2,166.12, a P/E ratio of 57.00, a P/E/G ratio of 1.88 and a beta of 0.58.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Monday, March 19th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Friday, March 16th. South Jersey Industries’s dividend payout ratio is currently 233.34%.

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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).

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