Janney Montgomery Scott Reaffirms Buy Rating for South Jersey Industries, Inc. (SJI)

Janney Montgomery Scott restated their buy rating on shares of South Jersey Industries, Inc. (NYSE:SJI) in a research note published on Tuesday, October 17th.

Other equities analysts have also issued research reports about the stock. Williams Capital upgraded shares of South Jersey Industries from a hold rating to a buy rating and increased their price target for the company from $34.00 to $36.00 in a research report on Monday, July 17th. 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. Zacks Investment Research upgraded shares of South Jersey Industries from a sell rating to a hold rating in a research report on Wednesday, July 12th. 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. Finally, BidaskClub upgraded shares of South Jersey Industries from a strong sell rating to a sell rating in a research report on Friday, August 11th. Two research 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. The company presently has a consensus rating of Hold and a consensus target price of $38.00.

South Jersey Industries (NYSE:SJI) traded down $0.63 on Tuesday, reaching $32.62. 246,781 shares of the company’s stock traded hands, compared to its average volume of 423,302. The firm has a market capitalization of $2,645.01, a P/E ratio of 28.91, a price-to-earnings-growth ratio of 3.72 and a beta of 0.72. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.41 and a current ratio of 0.49. South Jersey Industries has a 1 year low of $29.15 and a 1 year high of $38.40.

South Jersey Industries (NYSE:SJI) last announced its earnings results on Thursday, November 2nd. The utilities provider reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). The firm had revenue of $227.13 million during the quarter, compared to analysts’ expectations of $222.92 million. South Jersey Industries had a net margin of 3.13% and a return on equity of 7.06%. analysts forecast that South Jersey Industries will post 1.19 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of SJI. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of South Jersey Industries by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,025 shares of the utilities provider’s stock worth $103,000 after acquiring an additional 262 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of South Jersey Industries by 2.0% during the second quarter. First Mercantile Trust Co. now owns 3,060 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 60 shares in the last quarter. WFG Advisors LP grew its holdings in shares of South Jersey Industries by 8.0% in the second quarter. WFG Advisors LP now owns 3,153 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 234 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of 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 worth $122,000 after purchasing an additional 29 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of South Jersey Industries in the second quarter worth approximately $129,000. 69.91% of the stock is currently owned by hedge funds and other institutional investors.

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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