South Jersey Industries, Inc. (NYSE:SJI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “South Jersey Inds Inc. is engaged in the business of operating, through subsidiaries, various business enterprises. The company’s most significant subsidiary is South Jersey Gas Company (SJG). SJG is a public utility company engaged in the purchase, transmission and sale of natural gas for residential, commercial and industrial use. SJG also makes off-system sales of natural gas on a wholesale basis to various customers on the interstate pipeline system and transports natural gas. “

A number of other research firms have also weighed in on SJI. Morgan Stanley upped their target price on shares of South Jersey Industries from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. BidaskClub upgraded shares of South Jersey Industries from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. Williams Capital upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and upped their target price for the stock from $34.00 to $36.00 in a research note on Monday, July 17th. Finally, Janney Montgomery Scott upgraded shares of South Jersey Industries from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $39.50.

South Jersey Industries (SJI) opened at 35.93 on Tuesday. South Jersey Industries has a 52-week low of $27.51 and a 52-week high of $38.40. The firm has a 50 day moving average of $34.96 and a 200-day moving average of $35.35. The stock has a market cap of $2.85 billion, a PE ratio of 33.36 and a beta of 0.77.

South Jersey Industries (NYSE:SJI) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. South Jersey Industries had a net margin of 7.02% and a return on equity of 7.71%. The firm had revenue of $244.37 million for the quarter, compared to analyst estimates of $179.63 million. During the same period in the prior year, the firm earned $0.12 earnings per share. Equities analysts anticipate that South Jersey Industries will post $1.19 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in SJI. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 valued at $103,000 after purchasing an additional 262 shares during the last quarter. First Mercantile Trust Co. increased its stake 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 valued at $105,000 after purchasing an additional 60 shares during the last quarter. WFG Advisors LP increased its stake in South Jersey Industries by 8.0% in the second quarter. WFG Advisors LP now owns 3,153 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 234 shares during the last quarter. Bank of Montreal Can increased its stake 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 valued at $120,000 after purchasing an additional 2,170 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in South Jersey Industries by 0.8% in the second quarter. Public Employees Retirement System of Ohio now owns 3,585 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 29 shares during the last quarter. Institutional investors own 69.48% 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 (Midstream).

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

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