South Jersey Industries, Inc. (SJI) Given Average Rating of “Hold” by Analysts

Shares of South Jersey Industries, Inc. (NYSE:SJI) have earned a consensus recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $38.67.

SJI has been the topic of several recent analyst reports. Zacks Investment Research raised South Jersey Industries from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub cut South Jersey Industries from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Williams Capital raised South Jersey Industries from a “hold” rating to a “buy” rating and raised their price target for the company from $34.00 to $36.00 in a report on Monday, July 17th. Morgan Stanley raised their price target on South Jersey Industries from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Finally, Janney Montgomery Scott raised South Jersey Industries from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th. They noted that the move was a valuation call.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Phocas Financial Corp. raised its holdings in shares of South Jersey Industries by 80.8% during the 2nd quarter. Phocas Financial Corp. now owns 272,684 shares of the utilities provider’s stock valued at $9,318,000 after buying an additional 121,858 shares in the last quarter. WFG Advisors LP raised its holdings in shares of South Jersey Industries by 8.0% during the 2nd quarter. WFG Advisors LP now owns 3,153 shares of the utilities provider’s stock valued at $108,000 after buying an additional 234 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of South Jersey Industries by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,585 shares of the utilities provider’s stock valued at $122,000 after buying an additional 29 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of South Jersey Industries during the 2nd quarter valued at about $587,000. Finally, Robecosam AG raised its holdings in shares of South Jersey Industries by 3.8% during the 2nd quarter. Robecosam AG now owns 135,000 shares of the utilities provider’s stock valued at $4,625,000 after buying an additional 5,000 shares in the last quarter. 69.48% of the stock is currently owned by institutional investors.

Shares of South Jersey Industries (NYSE SJI) traded up 0.66% on Friday, reaching $36.34. The company’s stock had a trading volume of 721,144 shares. South Jersey Industries has a 12 month low of $27.51 and a 12 month high of $38.40. The firm’s 50-day moving average price is $35.21 and its 200-day moving average price is $35.38. The stock has a market cap of $2.88 billion, a P/E ratio of 33.74 and a beta of 0.77.

South Jersey Industries (NYSE:SJI) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. South Jersey Industries had a return on equity of 7.71% and a net margin of 7.02%. The firm had revenue of $244.37 million for the quarter, compared to analysts’ expectations of $179.63 million. During the same quarter last year, the firm posted $0.12 EPS. On average, analysts forecast that South Jersey Industries will post $1.19 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 11th will be issued a dividend of $0.273 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.00%. South Jersey Industries’s dividend payout ratio is 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).

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

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