South Jersey Industries Inc (SJI) Receives $35.83 Average Price Target from Brokerages

South Jersey Industries Inc (NYSE:SJI) has been assigned an average rating of “Hold” from the ten research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $35.00.

Several equities analysts have weighed in on SJI shares. 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 $36.00 to $37.00 in a report on Tuesday, October 17th. Janney Montgomery Scott reaffirmed a “buy” rating on shares of South Jersey Industries in a report on Tuesday, October 17th. TheStreet downgraded shares of South Jersey Industries from a “b-” rating to a “c+” rating in a report on Wednesday, January 10th. Morgan Stanley lowered their price target on shares of South Jersey Industries from $40.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 13th. Finally, Zacks Investment Research raised shares of South Jersey Industries from a “sell” rating to a “hold” rating in a report on Friday, November 17th.

Hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System lifted its holdings in shares of South Jersey Industries by 1.4% in the second quarter. California Public Employees Retirement System now owns 112,500 shares of the utilities provider’s stock worth $3,844,000 after buying an additional 1,600 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of South Jersey Industries by 9.4% in the third quarter. Wells Fargo & Company MN now owns 1,907,795 shares of the utilities provider’s stock worth $65,876,000 after buying an additional 164,517 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of South Jersey Industries by 4.5% in the third quarter. Legal & General Group Plc now owns 184,596 shares of the utilities provider’s stock worth $6,375,000 after buying an additional 7,943 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of South Jersey Industries by 1.7% in the second quarter. Goldman Sachs Group Inc. now owns 2,352,293 shares of the utilities provider’s stock worth $80,378,000 after buying an additional 40,310 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of South Jersey Industries by 60.7% in the second quarter. JPMorgan Chase & Co. now owns 143,872 shares of the utilities provider’s stock worth $4,916,000 after buying an additional 54,324 shares in the last quarter. 70.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of South Jersey Industries (NYSE SJI) traded down $0.22 during trading hours on Friday, reaching $29.72. 650,600 shares of the company’s stock traded hands, compared to its average volume of 477,881. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.47 and a quick ratio of 0.38. South Jersey Industries has a twelve month low of $29.00 and a twelve month high of $38.40. The stock has a market capitalization of $2,380.00, a P/E ratio of 61.92, a P/E/G ratio of 2.04 and a beta of 0.71.

South Jersey Industries (NYSE:SJI) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). South Jersey Industries had a net margin of 3.13% and a return on equity of 7.16%. The firm had revenue of $227.13 million for the quarter, compared to analysts’ expectations of $222.92 million. research analysts expect that South Jersey Industries will post 1.16 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Monday, March 19th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, March 16th. South Jersey Industries’s dividend payout ratio (DPR) is presently 233.33%.

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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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