South Jersey Industries (SJI) Lowered to Neutral at Sidoti

South Jersey Industries (NYSE:SJI) was downgraded by investment analysts at Sidoti from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. They currently have a $34.00 price target on the utilities provider’s stock. Sidoti’s price target indicates a potential upside of 12.92% from the stock’s previous close.

Several other research firms also recently commented on SJI. Williams Capital downgraded shares of South Jersey Industries from a “buy” rating to a “hold” rating and set a $36.00 price objective on the stock. in a report on Monday, September 18th. Zacks Investment Research downgraded shares of South Jersey Industries from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. JPMorgan Chase & Co. upped their price objective on shares of South Jersey Industries from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Morgan Stanley dropped their price objective on shares of South Jersey Industries from $40.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 13th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating on shares of South Jersey Industries in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $35.83.

South Jersey Industries (SJI) traded down $0.40 on Monday, reaching $30.11. 399,500 shares of the company traded hands, compared to its average volume of 392,783. The company has a market capitalization of $2,430.00, a price-to-earnings ratio of 62.73, a P/E/G ratio of 2.13 and a beta of 0.71. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.38 and a current ratio of 0.47. South Jersey Industries has a one year low of $29.84 and a one year high of $38.40.

South Jersey Industries (NYSE:SJI) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). The company had revenue of $227.13 million for the quarter, compared to the consensus estimate of $222.92 million. South Jersey Industries had a net margin of 3.13% and a return on equity of 7.16%. equities analysts predict that South Jersey Industries will post 1.17 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in 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 valued at $103,000 after purchasing an additional 262 shares during the last quarter. WFG Advisors LP lifted its holdings 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 valued at $108,000 after purchasing an additional 234 shares during the last quarter. San Francisco Sentry Investment Group CA purchased a new stake in South Jersey Industries during the third quarter valued at about $110,000. Public Employees Retirement System of Ohio lifted its holdings 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 valued at $122,000 after purchasing an additional 29 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in South Jersey Industries during the second quarter valued at about $129,000. 70.35% 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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