South Jersey Industries Inc. Forecasted to Earn FY2019 Earnings of $1.80 Per Share (SJI)
South Jersey Industries Inc. (NYSE:SJI) – Analysts at Williams Capital issued their FY2019 earnings per share estimates for shares of South Jersey Industries in a research note issued to investors on Wednesday. Williams Capital analyst C. Ellinghaus anticipates that the brokerage will earn $1.80 per share for the year. Williams Capital currently has a “Hold” rating and a $34.00 target price on the stock. Williams Capital also issued estimates for South Jersey Industries’ FY2020 earnings at $1.85 EPS.
Several other research firms have also commented on SJI. Zacks Investment Research upgraded South Jersey Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Morgan Stanley assumed 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 for the company. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $32.80.
South Jersey Industries (NYSE:SJI) traded up 1.16% on Monday, reaching $33.23. The company’s stock had a trading volume of 101,798 shares. South Jersey Industries has a one year low of $21.24 and a one year high of $33.41. The firm has a 50-day moving average of $29.70 and a 200-day moving average of $29.99. The company has a market capitalization of $2.63 billion, a PE ratio of 19.91 and a beta of 0.58.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Friday, December 9th will be paid a dividend of $0.273 per share. This represents a $1.09 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Wednesday, December 7th. This is an increase from South Jersey Industries’s previous quarterly dividend of $0.26. South Jersey Industries’s payout ratio is currently 60.34%.
Hedge funds have recently bought and sold shares of the stock. Duff & Phelps Investment Management Co. bought a new stake in South Jersey Industries during the second quarter valued at $49,327,000. FMR LLC increased its stake in South Jersey Industries by 65.6% in the second quarter. FMR LLC now owns 3,720,901 shares of the company’s stock valued at $117,655,000 after buying an additional 1,474,316 shares in the last quarter. Vanguard Group Inc. increased its stake in South Jersey Industries by 17.4% in the second quarter. Vanguard Group Inc. now owns 6,624,667 shares of the company’s stock valued at $209,472,000 after buying an additional 980,710 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in South Jersey Industries during the second quarter valued at $30,379,000. Finally, BlackRock Fund Advisors increased its stake in South Jersey Industries by 19.8% in the second quarter. BlackRock Fund Advisors now owns 5,358,688 shares of the company’s stock valued at $169,442,000 after buying an additional 885,728 shares in the last quarter. 70.04% of the stock is owned by hedge funds and other institutional investors.
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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