South Jersey Industries, Inc. (NYSE:SJI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “South Jersey Inds Inc. is engaged in the business of operating, through subsidiaries, various business enterprises. The company’s most significant subsidiary is South Jersey Gas Company (SJG). SJG is a public utility company engaged in the purchase, transmission and sale of natural gas for residential, commercial and industrial use. SJG also makes off-system sales of natural gas on a wholesale basis to various customers on the interstate pipeline system and transports natural gas. “

A number of other equities analysts also recently commented on the stock. US Capital Advisors downgraded shares of South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Williams Capital downgraded shares of South Jersey Industries from a “buy” rating to a “hold” rating and increased their price objective for the stock from $33.00 to $34.00 in a research note on Wednesday, November 23rd. Finally, Guggenheim downgraded shares of South Jersey Industries from a “buy” rating to a “neutral” rating in a research note on Monday, January 9th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. South Jersey Industries has a consensus rating of “Hold” and an average price target of $33.67.

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

Shares of South Jersey Industries (NYSE:SJI) traded up 0.51% during trading on Friday, reaching $33.36. The company had a trading volume of 211,761 shares. The firm has a 50 day moving average price of $32.81 and a 200 day moving average price of $31.24. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 19.99 and a beta of 0.66. South Jersey Industries has a 12 month low of $25.27 and a 12 month high of $34.85.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 4th. Stockholders of record on Friday, March 17th will be issued a dividend of $0.2725 per share. The ex-dividend date of this dividend is Wednesday, March 15th. This represents a $1.09 annualized dividend and a dividend yield of 3.27%. South Jersey Industries’s dividend payout ratio is presently 62.64%.

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Several hedge funds and other institutional investors have recently made changes to their positions in SJI. Public Employees Retirement System of Ohio boosted its position in shares of South Jersey Industries by 3.2% in the second quarter. Public Employees Retirement System of Ohio now owns 4,054 shares of the company’s stock valued at $128,000 after buying an additional 127 shares in the last quarter. NEXT Financial Group Inc boosted its position in shares of South Jersey Industries by 214.9% in the third quarter. NEXT Financial Group Inc now owns 4,330 shares of the company’s stock worth $128,000 after buying an additional 2,955 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of South Jersey Industries by 21.8% in the third quarter. Integrated Investment Consultants LLC now owns 5,260 shares of the company’s stock worth $150,000 after buying an additional 942 shares during the period. Silvercrest Asset Management Group LLC purchased a new position in shares of South Jersey Industries during the fourth quarter worth about $266,000. Finally, Amalgamated Bank boosted its position in shares of South Jersey Industries by 28.9% in the second quarter. Amalgamated Bank now owns 9,468 shares of the company’s stock worth $295,000 after buying an additional 2,124 shares during the period. 69.44% of the stock is currently 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.

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