South Jersey Industries, Inc. (NYSE:SJI) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Other research analysts have also recently issued reports about the stock. Morgan Stanley lifted their price target on shares of South Jersey Industries from $38.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday. Zacks Investment Research raised shares of South Jersey Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Williams Capital raised shares of South Jersey Industries from a “hold” rating to a “buy” rating and lifted their price target for the company from $34.00 to $36.00 in a research report on Monday, July 17th. Finally, Janney Montgomery Scott raised shares of South Jersey Industries from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $39.25.

Shares of South Jersey Industries (NYSE SJI) traded down 2.16% during trading on Friday, hitting $35.37. 547,266 shares of the stock traded hands. The firm has a market cap of $2.81 billion, a PE ratio of 32.84 and a beta of 0.77. The company’s 50 day moving average is $34.12 and its 200 day moving average is $34.99. South Jersey Industries has a 52-week low of $27.51 and a 52-week high of $38.40.

South Jersey Industries (NYSE:SJI) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The firm had revenue of $244.37 million for the quarter, compared to analysts’ expectations of $179.63 million. South Jersey Industries had a net margin of 7.02% and a return on equity of 7.71%. During the same period in the previous year, the company posted $0.12 earnings per share. On average, equities research analysts predict that South Jersey Industries will post $1.19 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in South Jersey Industries by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,025 shares of the utilities provider’s stock worth $103,000 after buying an additional 262 shares during the last quarter. First Mercantile Trust Co. boosted its position in South Jersey Industries by 2.0% in the second quarter. First Mercantile Trust Co. now owns 3,060 shares of the utilities provider’s stock worth $105,000 after buying an additional 60 shares during the last quarter. Bank of Montreal Can boosted its position in South Jersey Industries by 180.8% in the first quarter. Bank of Montreal Can now owns 3,370 shares of the utilities provider’s stock worth $120,000 after buying an additional 2,170 shares during the last quarter. Captrust Financial Advisors purchased a new position in South Jersey Industries during the second quarter worth approximately $129,000. Finally, LS Investment Advisors LLC boosted its position in South Jersey Industries by 52.3% in the first quarter. LS Investment Advisors LLC now owns 4,548 shares of the utilities provider’s stock worth $162,000 after buying an additional 1,561 shares during the last quarter. 69.51% of the stock is currently owned by institutional investors and hedge funds.

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 (Midstream).

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

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