South Jersey Industries Inc. (NYSE:SJI) was downgraded by analysts at US Capital Advisors from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Tuesday. Williams Capital downgraded shares of South Jersey Industries from a “buy” rating to a “hold” rating and lifted their price target for the stock from $33.00 to $34.00 in a research note on Wednesday, November 23rd. Finally, Morgan Stanley began 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 price target for the company. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $33.67.

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

Shares of South Jersey Industries (NYSE:SJI) opened at 33.85 on Wednesday. South Jersey Industries has a 1-year low of $21.24 and a 1-year high of $34.08. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 20.28 and a beta of 0.58. The stock has a 50 day moving average of $29.87 and a 200-day moving average of $30.07.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Friday, December 9th will be given a dividend of $0.273 per share. This represents a $1.09 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend 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%.

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Several hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its stake in shares of South Jersey Industries by 3.2% in the second quarter. Public Employees Retirement System of Ohio now owns 4,054 shares of the company’s stock valued at $128,000 after buying an additional 127 shares in the last quarter. NEXT Financial Group Inc increased its stake in shares of South Jersey Industries by 214.9% in the third quarter. NEXT Financial Group Inc now owns 4,330 shares of the company’s stock valued at $128,000 after buying an additional 2,955 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of South Jersey Industries during the second quarter valued at $154,000. BlackRock Japan Co. Ltd bought a new stake in shares of South Jersey Industries during the second quarter valued at $159,000. Finally, Integrated Investment Consultants LLC increased its stake in shares of South Jersey Industries by 21.8% in the third quarter. Integrated Investment Consultants LLC now owns 5,260 shares of the company’s stock valued at $150,000 after buying an additional 942 shares in the last quarter. Institutional investors and hedge funds own 70.04% of the company’s stock.

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.

5 Day Chart for NYSE:SJI

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