South Jersey Industries Inc (SJI) Receives Consensus Rating of “Hold” from Analysts
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.
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.
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