South Jersey Industries Inc. (SJI) Given Consensus Rating of “Buy” by Analysts
South Jersey Industries Inc. (NYSE:SJI) has earned an average rating of “Buy” from the ten research firms that are presently covering the stock. Five equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $32.50.
Several analysts have recently issued reports on SJI shares. Morgan Stanley started coverage on shares of South Jersey Industries in a research note on Thursday, September 8th. They set an “equal weight” rating and a $32.00 price objective for the company. Zacks Investment Research raised shares of South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th.
A number of institutional investors have recently modified their holdings of the company. Duff & Phelps Investment Management Co. purchased a new position in shares of South Jersey Industries during the second quarter worth approximately $49,327,000. FMR LLC raised its position in shares of South Jersey Industries by 65.6% in the second quarter. FMR LLC now owns 3,720,901 shares of the company’s stock worth $117,655,000 after buying an additional 1,474,316 shares in the last quarter. Vanguard Group Inc. raised its position in shares of South Jersey Industries by 17.4% in the second quarter. Vanguard Group Inc. now owns 6,624,667 shares of the company’s stock worth $209,472,000 after buying an additional 980,710 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of South Jersey Industries during the second quarter worth approximately $30,379,000. Finally, BlackRock Fund Advisors raised its position in shares of South Jersey Industries by 19.8% in the second quarter. BlackRock Fund Advisors now owns 5,358,688 shares of the company’s stock worth $169,442,000 after buying an additional 885,728 shares in the last quarter. Hedge funds and other institutional investors own 68.82% of the company’s stock.
South Jersey Industries (NYSE:SJI) opened at 31.98 on Monday. The firm’s 50 day moving average price is $29.05 and its 200 day moving average price is $29.71. South Jersey Industries has a one year low of $21.24 and a one year high of $32.03. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 19.16 and a beta of 0.58.
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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