Sidoti downgraded shares of South Jersey Industries (NYSE:SJI) from a buy rating to a neutral rating in a report issued on Monday morning, MarketBeat reports. The brokerage currently has $34.00 target price on the utilities provider’s stock.
Several other equities research analysts have also recently weighed in on SJI. Guggenheim reaffirmed a hold rating and issued a $32.00 price target on shares of South Jersey Industries in a research report on Wednesday, January 3rd. Zacks Investment Research cut shares of South Jersey Industries from a hold rating to a sell rating in a research report on Wednesday, November 8th. Morgan Stanley lowered their price target on shares of South Jersey Industries from $40.00 to $37.00 and set an equal weight rating for the company in a research report on Wednesday, December 13th. Williams Capital cut shares of South Jersey Industries from a buy rating to a hold rating and set a $36.00 price target for the company. in a research report on Monday, September 18th. Finally, Janney Montgomery Scott reaffirmed a buy rating on shares of South Jersey Industries in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $35.83.
Shares of South Jersey Industries (NYSE SJI) traded up $0.52 on Monday, hitting $29.65. 489,500 shares of the stock traded hands, compared to its average volume of 414,612. South Jersey Industries has a 52-week low of $29.04 and a 52-week high of $38.40. The stock has a market cap of $2,320.00, a PE ratio of 61.77, a PEG ratio of 2.13 and a beta of 0.71. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.47 and a quick ratio of 0.38.
South Jersey Industries (NYSE:SJI) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.04). South Jersey Industries had a return on equity of 7.16% and a net margin of 3.13%. The business had revenue of $227.13 million during the quarter, compared to analysts’ expectations of $222.92 million. equities analysts expect that South Jersey Industries will post 1.17 earnings per share for the current fiscal year.
The company also recently disclosed 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 dividend yield of 3.78%. The ex-dividend date was Friday, December 8th. This is a positive change from South Jersey Industries’s previous quarterly dividend of $0.27. South Jersey Industries’s payout ratio is 233.33%.
Several hedge funds and other institutional investors have recently bought and sold shares of SJI. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of South Jersey Industries by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,025 shares of the utilities provider’s stock worth $103,000 after acquiring an additional 262 shares in the last quarter. WFG Advisors LP raised its stake in shares of South Jersey Industries by 8.0% during the 2nd quarter. WFG Advisors LP now owns 3,153 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 234 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new position in shares of South Jersey Industries during the 3rd quarter worth approximately $110,000. Public Employees Retirement System of Ohio raised its stake in shares of South Jersey Industries by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,585 shares of the utilities provider’s stock worth $122,000 after acquiring an additional 29 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of South Jersey Industries during the 2nd quarter worth approximately $129,000. Hedge funds and other institutional investors own 70.35% of the company’s stock.
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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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