Morgan Stanley Trims South Jersey Industries (SJI) Target Price to $30.00

South Jersey Industries (NYSE:SJI) had its price objective dropped by investment analysts at Morgan Stanley from $35.00 to $30.00 in a report issued on Tuesday. The firm presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 13.68% from the company’s previous close.

SJI has been the subject of a number of other reports. Sidoti cut shares of South Jersey Industries from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research note on Monday, January 8th. Zacks Investment Research cut shares of South Jersey Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Guggenheim reaffirmed a “hold” rating and set a $32.00 target price on shares of South Jersey Industries in a research report on Wednesday, January 3rd. TheStreet lowered shares of South Jersey Industries from a “b-” rating to a “c+” rating in a research report on Wednesday, January 10th. Finally, Williams Capital raised shares of South Jersey Industries from a “hold” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $37.00 in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $34.00.

Shares of South Jersey Industries (NYSE:SJI) opened at $26.39 on Tuesday. 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 one year low of $26.21 and a one year high of $38.40. The firm has a market cap of $2,126.35, a price-to-earnings ratio of 23.24, a PEG ratio of 1.85 and a beta of 0.58.

A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its position in South Jersey Industries by 0.8% during the second quarter. Public Employees Retirement System of Ohio now owns 3,585 shares of the utilities provider’s stock worth $122,000 after acquiring an additional 29 shares during the period. WFG Advisors LP increased its position in South Jersey Industries by 8.0% during the second quarter. WFG Advisors LP now owns 3,153 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 234 shares during the period. California Public Employees Retirement System increased its position in South Jersey Industries by 1.4% during the second quarter. California Public Employees Retirement System now owns 112,500 shares of the utilities provider’s stock worth $3,844,000 after acquiring an additional 1,600 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in South Jersey Industries by 2.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 69,032 shares of the utilities provider’s stock worth $2,384,000 after acquiring an additional 1,608 shares during the period. Finally, Accurate Investment Solutions Inc. increased its position in South Jersey Industries by 1.9% during the fourth quarter. Accurate Investment Solutions Inc. now owns 103,459 shares of the utilities provider’s stock worth $3,231,000 after acquiring an additional 1,941 shares during the period. 69.52% of the stock is currently owned by institutional investors and hedge funds.

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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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