South Jersey Industries (SJI) Downgraded by TheStreet
Other analysts have also recently issued reports about the stock. Williams Capital raised shares of South Jersey Industries from a hold rating to a buy rating and increased their price objective for the stock from $36.00 to $37.00 in a research note on Tuesday, October 17th. Janney Montgomery Scott reaffirmed a buy rating on shares of South Jersey Industries in a research note on Tuesday, October 17th. Morgan Stanley cut their target price on shares of South Jersey Industries from $40.00 to $37.00 and set an equal weight rating for the company in a research note on Wednesday, December 13th. Zacks Investment Research raised shares of South Jersey Industries from a sell rating to a hold rating in a research note on Friday, November 17th. Finally, Guggenheim reaffirmed a hold rating and set a $32.00 target price on shares of South Jersey Industries in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $35.83.
Shares of South Jersey Industries (NYSE SJI) traded up $0.06 during midday trading on Wednesday, hitting $29.71. 438,574 shares of the stock were exchanged, compared to its average volume of 417,267. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $2,320.00, a PE ratio of 61.90, a PEG ratio of 2.13 and a beta of 0.71. South Jersey Industries has a 1 year low of $29.04 and a 1 year high of $38.40.
South Jersey Industries (NYSE:SJI) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.04). The firm had revenue of $227.13 million during the quarter, compared to analysts’ expectations of $222.92 million. South Jersey Industries had a return on equity of 7.16% and a net margin of 3.13%. sell-side analysts expect that South Jersey Industries will post 1.17 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Monday, December 11th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.77%. This is a boost from South Jersey Industries’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, December 8th. South Jersey Industries’s dividend payout ratio (DPR) is presently 233.33%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System grew its stake in South Jersey Industries by 1.4% during the second quarter. California Public Employees Retirement System now owns 112,500 shares of the utilities provider’s stock valued at $3,844,000 after acquiring an additional 1,600 shares in the last quarter. Wells Fargo & Company MN grew its stake in South Jersey Industries by 9.4% during the third quarter. Wells Fargo & Company MN now owns 1,907,795 shares of the utilities provider’s stock valued at $65,876,000 after acquiring an additional 164,517 shares in the last quarter. Legal & General Group Plc grew its stake in South Jersey Industries by 4.5% during the third quarter. Legal & General Group Plc now owns 184,596 shares of the utilities provider’s stock valued at $6,375,000 after acquiring an additional 7,943 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in South Jersey Industries by 1.7% during the second quarter. Goldman Sachs Group Inc. now owns 2,352,293 shares of the utilities provider’s stock valued at $80,378,000 after acquiring an additional 40,310 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in South Jersey Industries by 60.7% during the second quarter. JPMorgan Chase & Co. now owns 143,872 shares of the utilities provider’s stock valued at $4,916,000 after acquiring an additional 54,324 shares in the last quarter. 70.35% of the stock is owned by institutional investors.
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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).
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