Sidoti Downgrades South Jersey Industries (NYSE:SJI) to Neutral

South Jersey Industries (NYSE:SJI) was downgraded by research analysts at Sidoti from a “buy” rating to a “neutral” rating in a report issued on Monday, January 8th, Marketbeat.com reports. They presently have a $34.00 price target on the utilities provider’s stock. Sidoti’s target price points to a potential upside of 14.44% from the stock’s current price.

SJI has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their target price on shares of South Jersey Industries from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Zacks Investment Research lowered shares of South Jersey Industries from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Guggenheim reissued a “hold” rating and issued a $32.00 price objective on shares of South Jersey Industries in a report on Wednesday, January 3rd. Morgan Stanley dropped their price objective on shares of South Jersey Industries from $40.00 to $37.00 and set an “equal weight” rating for the company in a report on Wednesday, December 13th. Finally, 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 $36.00 to $37.00 in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. South Jersey Industries presently has an average rating of “Hold” and an average price target of $35.83.

South Jersey Industries (NYSE:SJI) traded up $0.06 during trading hours on Monday, reaching $29.71. 438,500 shares of the company’s stock were exchanged, compared to its average volume of 417,267. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.47 and a quick ratio of 0.38. The firm has a market capitalization of $2,363.40, a PE ratio of 61.90, a PEG ratio of 2.06 and a beta of 0.71. South Jersey Industries has a 52 week low of $29.04 and a 52 week high of $38.40.

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

A number of large investors have recently modified their holdings of SJI. Victory Capital Management Inc. raised its holdings in South Jersey Industries by 49.6% in the third quarter. Victory Capital Management Inc. now owns 1,059,927 shares of the utilities provider’s stock valued at $36,599,000 after acquiring an additional 351,628 shares in the last quarter. Macquarie Group Ltd. increased its stake in South Jersey Industries by 41.5% in the second quarter. Macquarie Group Ltd. now owns 974,820 shares of the utilities provider’s stock valued at $33,310,000 after purchasing an additional 286,007 shares during the last quarter. Wells Fargo & Company MN increased its stake in 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 valued at $65,876,000 after purchasing an additional 164,517 shares during the last quarter. Northern Trust Corp increased its stake in South Jersey Industries by 8.7% in the second quarter. Northern Trust Corp now owns 1,665,298 shares of the utilities provider’s stock valued at $56,904,000 after purchasing an additional 133,720 shares during the last quarter. Finally, Phocas Financial Corp. increased its stake in South Jersey Industries by 80.8% in the second quarter. Phocas Financial Corp. now owns 272,684 shares of the utilities provider’s stock valued at $9,318,000 after purchasing an additional 121,858 shares during the last quarter. 70.35% of the stock is currently owned by hedge funds and other institutional investors.

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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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