South Jersey Industries Inc. (SJI) Lowered to “Hold” at Williams Capital
Williams Capital lowered shares of South Jersey Industries Inc. (NYSE:SJI) from a buy rating to a hold rating in a research note released on Wednesday. They currently have $34.00 target price on the stock, up from their prior target price of $33.00.
A number of other brokerages have also commented on SJI. Zacks Investment Research upgraded South Jersey Industries from a sell rating to a hold rating in a research note on Wednesday, August 10th. Morgan Stanley began coverage on South Jersey Industries in a research report on Thursday, September 8th. They issued an equal weight rating and a $32.00 price target on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. South Jersey Industries currently has an average rating of Hold and an average target price of $32.80.
Shares of South Jersey Industries (NYSE:SJI) opened at 32.22 on Wednesday. The firm has a 50-day moving average of $29.51 and a 200 day moving average of $29.95. South Jersey Industries has a 12 month low of $21.24 and a 12 month high of $33.41. The company has a market capitalization of $2.55 billion, a PE ratio of 19.30 and a beta of 0.58.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Friday, December 9th will be issued a $0.273 dividend. This is a boost from South Jersey Industries’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, December 7th. This represents a $1.09 annualized dividend and a yield of 3.39%. South Jersey Industries’s dividend payout ratio (DPR) is currently 60.34%.
A number of institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in South Jersey Industries by 31.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,112,193 shares of the company’s stock valued at $32,865,000 after buying an additional 266,571 shares in the last quarter. Crow Point Partners LLC purchased a new position in South Jersey Industries during the third quarter valued at about $9,616,000. Phocas Financial Corp. boosted its position in South Jersey Industries by 6.5% in the third quarter. Phocas Financial Corp. now owns 171,545 shares of the company’s stock valued at $5,069,000 after buying an additional 10,463 shares in the last quarter. Robecosam AG boosted its position in South Jersey Industries by 808.9% in the third quarter. Robecosam AG now owns 204,500 shares of the company’s stock valued at $6,086,000 after buying an additional 182,000 shares in the last quarter. Finally, Cetera Advisor Networks LLC purchased a new position in South Jersey Industries during the third quarter valued at about $294,000. Institutional investors and hedge funds own 68.59% of the company’s stock.
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.
Receive News & Stock Ratings for South Jersey Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South Jersey Industries Inc. and related stocks with our FREE daily email newsletter.