South Jersey Industries, Inc. (NYSE:SJI) had its target price hoisted by investment analysts at J P Morgan Chase & Co from $32.00 to $35.00 in a research note issued on Thursday. The firm presently has a “neutral” rating on the utilities provider’s stock. J P Morgan Chase & Co’s price target would suggest a potential downside of 1.93% from the stock’s current price.
Several other research firms also recently weighed in on SJI. Williams Capital downgraded South Jersey Industries from a “buy” rating to a “hold” rating and set a $36.00 price objective for the company. in a research note on Monday, September 18th. BidaskClub raised South Jersey Industries from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. Morgan Stanley raised their price objective on South Jersey Industries from $38.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Zacks Investment Research downgraded South Jersey Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Finally, Janney Montgomery Scott raised South Jersey Industries from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. South Jersey Industries currently has a consensus rating of “Hold” and a consensus target price of $37.75.
Shares of South Jersey Industries (SJI) traded up 0.67% during mid-day trading on Thursday, hitting $35.93. The stock had a trading volume of 20,552 shares. The stock has a 50 day moving average price of $35.31 and a 200-day moving average price of $35.49. The company has a market cap of $2.85 billion, a PE ratio of 33.36 and a beta of 0.75. South Jersey Industries has a 52-week low of $27.80 and a 52-week high of $38.40.
South Jersey Industries (NYSE:SJI) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $179.63 million. During the same period last year, the business posted $0.12 EPS. On average, equities analysts expect that South Jersey Industries will post $1.19 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the business. State of Wisconsin Investment Board purchased a new position in South Jersey Industries during the second quarter worth $3,940,000. United Services Automobile Association purchased a new position in South Jersey Industries during the first quarter worth $858,000. BlackRock Inc. increased its position in South Jersey Industries by 46,816.5% during the first quarter. BlackRock Inc. now owns 9,843,088 shares of the utilities provider’s stock worth $350,905,000 after buying an additional 9,822,108 shares in the last quarter. Vanguard Group Inc. increased its position in South Jersey Industries by 6.7% during the first quarter. Vanguard Group Inc. now owns 7,609,432 shares of the utilities provider’s stock worth $271,277,000 after buying an additional 474,868 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its position in South Jersey Industries by 29.4% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 14,969 shares of the utilities provider’s stock worth $511,000 after buying an additional 3,400 shares in the last quarter. 69.48% of the stock is owned by institutional investors.
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).
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