South Jersey Industries Inc. (NYSE:SJI) Receives Average Rating of “Buy” from Brokerages
South Jersey Industries Inc. (NYSE:SJI) has been given an average recommendation of “Buy” by the ten research firms that are covering the firm. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $32.50.
Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of South Jersey Industries in a research note on Tuesday, June 14th. They issued a “neutral” rating and a $31.00 target price for the company. Janney Montgomery Scott downgraded shares of South Jersey Industries from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 28th. Zacks Investment Research upgraded shares of South Jersey Industries from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 7th. Finally, Morgan Stanley assumed coverage on shares of South Jersey Industries in a research note on Thursday, September 8th. They issued an “equal weight” rating and a $32.00 target price for the company.
Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in South Jersey Industries by 0.7% in the first quarter. State Street Corp now owns 1,448,741 shares of the company’s stock worth $41,215,000 after buying an additional 9,618 shares in the last quarter. Moody Aldrich Partners LLC raised its position in South Jersey Industries by 200.1% in the second quarter. Moody Aldrich Partners LLC now owns 56,450 shares of the company’s stock worth $1,785,000 after buying an additional 37,640 shares in the last quarter. Franklin Resources Inc. purchased a new position in South Jersey Industries during the first quarter worth approximately $235,000. BlackRock Fund Advisors raised its position in South Jersey Industries by 2.0% in the first quarter. BlackRock Fund Advisors now owns 4,472,960 shares of the company’s stock worth $127,256,000 after buying an additional 89,776 shares in the last quarter. Finally, Deprince Race & Zollo Inc. purchased a new position in South Jersey Industries during the second quarter worth approximately $20,293,000. 69.68% of the stock is currently owned by institutional investors.
South Jersey Industries (NYSE:SJI) traded down 0.75% during midday trading on Friday, hitting $27.70. 133,663 shares of the stock traded hands. The company’s 50-day moving average is $29.67 and its 200-day moving average is $29.53. South Jersey Industries has a one year low of $21.24 and a one year high of $32.03. The company has a market cap of $2.20 billion, a PE ratio of 19.55 and a beta of 0.70.
South Jersey Industries (NYSE:SJI) last released its quarterly earnings data on Friday, August 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.02. South Jersey Industries had a return on equity of 9.56% and a net margin of 11.45%. The business earned $154.40 million during the quarter, compared to analyst estimates of $177.83 million. During the same period in the previous year, the company earned $0.03 EPS. Equities research analysts expect that South Jersey Industries will post $1.30 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Friday, September 9th were given a $0.2638 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Wednesday, September 7th. South Jersey Industries’s dividend payout ratio is 72.92%.
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.
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