South Jersey Industries, Inc. (SJI) Given Consensus Recommendation of “Hold” by Brokerages
Shares of South Jersey Industries, Inc. (NYSE:SJI) have been assigned an average rating of “Hold” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $38.67.
Several research firms recently commented on SJI. Morgan Stanley increased their price objective on South Jersey Industries from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. Janney Montgomery Scott raised 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. Williams Capital raised South Jersey Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from $34.00 to $36.00 in a research note on Monday, July 17th. BidaskClub downgraded South Jersey Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research downgraded South Jersey Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th.
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A number of large investors have recently modified their holdings of SJI. BlackRock Inc. grew its holdings in South Jersey Industries by 46,816.5% in the 1st quarter. BlackRock Inc. now owns 9,843,088 shares of the utilities provider’s stock valued at $350,905,000 after buying an additional 9,822,108 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of South Jersey Industries by 54.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,311,983 shares of the utilities provider’s stock worth $82,422,000 after purchasing an additional 812,762 shares during the period. Vanguard Group Inc. grew its holdings in shares of South Jersey Industries by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 7,609,432 shares of the utilities provider’s stock worth $271,277,000 after purchasing an additional 474,868 shares during the period. Macquarie Group Ltd. grew its holdings in shares of South Jersey Industries by 41.5% during the 2nd quarter. Macquarie Group Ltd. now owns 974,820 shares of the utilities provider’s stock worth $33,310,000 after purchasing an additional 286,007 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of South Jersey Industries by 8.7% during the 2nd quarter. Northern Trust Corp now owns 1,665,298 shares of the utilities provider’s stock worth $56,904,000 after purchasing an additional 133,720 shares during the period. Institutional investors own 69.48% of the company’s stock.
South Jersey Industries (NYSE SJI) traded up 0.03% during midday trading on Wednesday, reaching $35.69. 171,232 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 33.05 and a beta of 0.75. The firm’s 50 day moving average is $35.30 and its 200 day moving average is $35.49. 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 released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.06 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $244.37 million for the quarter, compared to analyst estimates of $179.63 million. South Jersey Industries had a return on equity of 7.71% and a net margin of 7.02%. During the same quarter in the prior year, the firm posted $0.12 EPS. On average, equities analysts anticipate that South Jersey Industries will post $1.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th were issued a $0.273 dividend. This represents a $1.09 annualized dividend and a yield of 3.06%. The ex-dividend date was Friday, September 8th. South Jersey Industries’s payout ratio is currently 101.87%.
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).
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