Janney Montgomery Scott reiterated their buy rating on shares of South Jersey Industries Inc (NYSE:SJI) in a research report released on Tuesday morning.

Other analysts also recently issued research reports about the stock. BidaskClub raised shares of South Jersey Industries from a strong sell rating to a sell rating in a research report on Friday, August 11th. 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. Morgan Stanley increased 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 report on Thursday, August 10th. Williams Capital raised shares of South Jersey Industries from a hold rating to a buy rating and increased their target price for the stock from $34.00 to $36.00 in a research report on Monday, July 17th. Finally, J P Morgan Chase & Co increased their target price on shares of South Jersey Industries from $32.00 to $35.00 and gave the stock a neutral rating in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. South Jersey Industries has a consensus rating of Hold and a consensus target price of $38.00.

South Jersey Industries (NYSE:SJI) traded down 0.21% on Tuesday, hitting $33.40. 314,338 shares of the stock traded hands. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 31.01 and a beta of 0.75. The firm’s 50-day moving average price is $34.94 and its 200-day moving average price is $35.40. South Jersey Industries has a 12-month low of $28.04 and a 12-month high of $38.40.

South Jersey Industries (NYSE:SJI) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.06. The firm had revenue of $244.37 million during the quarter, compared to the consensus estimate of $179.63 million. South Jersey Industries had a negative net margin of 3.14% and a negative return on equity of 2.36%. During the same quarter in the prior year, the company earned $0.12 EPS. On average, equities research analysts anticipate that South Jersey Industries will post $1.19 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th were given a $0.273 dividend. This represents a $1.09 annualized dividend and a yield of 3.27%. The ex-dividend date was Friday, September 8th. South Jersey Industries’s dividend payout ratio (DPR) is 101.87%.

A number of large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio grew its position 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 acquiring an additional 29 shares in the last quarter. First Mercantile Trust Co. grew 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 valued at $105,000 after acquiring an additional 60 shares in the last quarter. Amalgamated Bank grew its position in South Jersey Industries by 0.8% in the second quarter. Amalgamated Bank now owns 10,896 shares of the utilities provider’s stock valued at $372,000 after acquiring an additional 89 shares in the last quarter. Teacher Retirement System of Texas grew its position in South Jersey Industries by 2.4% in the second quarter. Teacher Retirement System of Texas now owns 6,349 shares of the utilities provider’s stock valued at $217,000 after acquiring an additional 150 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in South Jersey Industries by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 52,470 shares of the utilities provider’s stock valued at $1,793,000 after acquiring an additional 200 shares in the last quarter. 69.48% of the stock is owned by 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 (Midstream).

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

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