South Jersey Industries Inc (NYSE:SJI) has earned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $35.17.

Several equities research analysts have recently weighed in on SJI shares. ValuEngine cut South Jersey Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, June 6th. Zacks Investment Research cut South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Saturday, June 23rd. Morgan Stanley increased their price target on South Jersey Industries from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, July 16th. Bank of America assumed coverage on South Jersey Industries in a research note on Monday, July 30th. They issued a “neutral” rating and a $34.00 price target for the company. Finally, JPMorgan Chase & Co. raised their target price on South Jersey Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th.

In other South Jersey Industries news, Director Sunita Holzer bought 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was acquired at an average price of $32.88 per share, with a total value of $49,320.00. Following the completion of the purchase, the director now directly owns 25,866 shares of the company’s stock, valued at approximately $850,474.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.64% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new stake in South Jersey Industries in the first quarter valued at approximately $112,000. Bank of Montreal Can acquired a new stake in South Jersey Industries in the second quarter valued at approximately $125,000. US Bancorp DE grew its stake in South Jersey Industries by 90.1% in the second quarter. US Bancorp DE now owns 3,729 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 1,767 shares during the period. Captrust Financial Advisors acquired a new stake in South Jersey Industries in the second quarter valued at approximately $141,000. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in South Jersey Industries in the first quarter valued at approximately $148,000. 85.10% of the stock is owned by institutional investors and hedge funds.

Shares of SJI stock opened at $34.05 on Thursday. The stock has a market capitalization of $3.00 billion, a PE ratio of 27.68, a P/E/G ratio of 1.79 and a beta of 0.50. The company has a quick ratio of 1.12, a current ratio of 1.15 and a debt-to-equity ratio of 1.08. South Jersey Industries has a 1-year low of $25.96 and a 1-year high of $36.16.

South Jersey Industries (NYSE:SJI) last issued its quarterly earnings results on Wednesday, August 8th. The utilities provider reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. The company had revenue of $227.33 million during the quarter, compared to analysts’ expectations of $254.54 million. South Jersey Industries had a positive return on equity of 11.36% and a negative net margin of 1.22%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 earnings per share. research analysts predict that South Jersey Industries will post 1.6 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Monday, September 10th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, September 7th. This represents a $1.12 annualized dividend and a yield of 3.29%. South Jersey Industries’s dividend payout ratio is currently 91.06%.

South Jersey Industries Company Profile

South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company engages in the purchase, transmission, and sale of natural gas. It also sells natural gas and pipeline transportation capacity on a wholesale basis to residential, commercial, and industrial customers on the interstate pipeline system, as well as transports natural gas, which is purchased directly from producers or suppliers to their customers.

See Also: What is the S&P 500 Index?

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

Receive News & Ratings for South Jersey Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South Jersey Industries and related companies with MarketBeat.com's FREE daily email newsletter.