South Jersey Industries (NYSE:SJI) has been given a $31.00 price objective by Morgan Stanley in a research report issued on Thursday, TipRanks reports. The brokerage presently has a “hold” rating on the utilities provider’s stock. Morgan Stanley’s price target indicates a potential downside of 7.44% from the company’s previous close.
A number of other research firms have also commented on SJI. ValuEngine upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating in a research report on Monday. Zacks Investment Research upgraded shares of South Jersey Industries from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Maxim Group began coverage on shares of South Jersey Industries in a research report on Tuesday, April 16th. They issued a “buy” rating and a $40.00 price target on the stock. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $34.43.
NYSE:SJI traded down $0.03 on Thursday, reaching $33.49. The stock had a trading volume of 429,251 shares, compared to its average volume of 653,587. The firm has a market cap of $3.06 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 4.20 and a beta of 0.76. South Jersey Industries has a 1-year low of $26.06 and a 1-year high of $36.72. The company has a quick ratio of 0.41, a current ratio of 0.43 and a debt-to-equity ratio of 1.40.
South Jersey Industries (NYSE:SJI) last released its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.14. The firm had revenue of $637.30 million for the quarter, compared to analyst estimates of $571.00 million. South Jersey Industries had a net margin of 3.40% and a return on equity of 8.66%. On average, research analysts expect that South Jersey Industries will post 1.1 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY lifted its position in shares of South Jersey Industries by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 27,620 shares of the utilities provider’s stock worth $768,000 after purchasing an additional 21,571 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of South Jersey Industries during the fourth quarter worth approximately $687,000. Ramsey Quantitative Systems lifted its position in shares of South Jersey Industries by 9.9% during the fourth quarter. Ramsey Quantitative Systems now owns 10,618 shares of the utilities provider’s stock worth $295,000 after purchasing an additional 959 shares in the last quarter. First Trust Advisors LP lifted its position in shares of South Jersey Industries by 33.3% during the fourth quarter. First Trust Advisors LP now owns 950,529 shares of the utilities provider’s stock worth $26,425,000 after purchasing an additional 237,685 shares in the last quarter. Finally, CRA Financial Services LLC acquired a new position in shares of South Jersey Industries during the fourth quarter worth approximately $289,000. Institutional investors own 80.20% of the company’s stock.
South Jersey Industries Company Profile
South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company engages in the purchase, transmission, and sale of natural gas. It also sells natural gas and pipeline transportation capacity on a wholesale basis to residential, commercial, and industrial customers on the interstate pipeline system, as well as transports natural gas, which is purchased directly from producers or suppliers to their customers.
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