South Jersey Industries, Inc. (NYSE:SJI) Price Target Raised to $39.00 at Morgan Stanley

South Jersey Industries, Inc. (NYSE:SJI) had its price objective raised by analysts at Morgan Stanley from $38.00 to $39.00 in a report released on Thursday. The firm currently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 10.26% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Zacks Investment Research raised South Jersey Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub cut South Jersey Industries from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Williams Capital raised South Jersey Industries from a “hold” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $36.00 in a research report on Monday, July 17th. Finally, Janney Montgomery Scott raised South Jersey Industries from a “neutral” rating to a “buy” rating in a research report on Tuesday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. South Jersey Industries currently has an average rating of “Hold” and an average target price of $39.25.

Shares of South Jersey Industries (NYSE:SJI) opened at 35.37 on Thursday. South Jersey Industries has a 1-year low of $27.51 and a 1-year high of $38.40. The stock has a market capitalization of $2.81 billion, a PE ratio of 32.84 and a beta of 0.77. The firm has a 50-day moving average price of $34.12 and a 200-day moving average price of $34.99.

South Jersey Industries (NYSE:SJI) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $244.37 million during the quarter, compared to analysts’ expectations of $179.63 million. South Jersey Industries had a return on equity of 7.71% and a net margin of 7.02%. During the same period in the prior year, the firm posted $0.12 EPS. On average, equities research analysts forecast that South Jersey Industries will post $1.19 earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in South Jersey Industries by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,527,207 shares of the utilities provider’s stock valued at $52,185,000 after buying an additional 12,435 shares during the last quarter. Quantbot Technologies LP purchased a new stake in South Jersey Industries during the second quarter valued at $348,000. California Public Employees Retirement System increased its stake in South Jersey Industries by 1.4% in 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 buying an additional 1,600 shares during the last quarter. FMR LLC increased its stake in South Jersey Industries by 1.2% in the second quarter. FMR LLC now owns 2,788,690 shares of the utilities provider’s stock valued at $95,290,000 after buying an additional 32,857 shares during the last quarter. Finally, Northern Trust Corp increased its stake in South Jersey Industries by 8.7% in the second quarter. Northern Trust Corp now owns 1,665,298 shares of the utilities provider’s stock valued at $56,904,000 after buying an additional 133,720 shares during the last quarter. 69.51% of the stock is owned by institutional investors and hedge funds.

South Jersey Industries Company Profile

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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