South Jersey Industries (SJI) Lifted to “Buy” at ValuEngine

ValuEngine upgraded shares of South Jersey Industries (NYSE:SJI) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

Several other research firms have also commented on SJI. Morgan Stanley increased their target price on shares of South Jersey Industries from $33.00 to $35.00 and gave the company a hold rating in a report on Friday, September 21st. Zacks Investment Research raised shares of South Jersey Industries from a sell rating to a hold rating in a report on Wednesday, September 19th. Bank of America initiated coverage on shares of South Jersey Industries in a report on Monday, July 30th. They set a neutral rating and a $34.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of South Jersey Industries from $33.00 to $34.00 and gave the stock a neutral rating in a report on Friday, August 10th. Finally, TheStreet lowered shares of South Jersey Industries from a b+ rating to a c+ rating in a report on Thursday, August 9th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $36.00.

SJI stock opened at $34.35 on Tuesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.12 and a current ratio of 1.15. South Jersey Industries has a 52 week low of $25.96 and a 52 week high of $36.72. The firm has a market cap of $3.02 billion, a P/E ratio of 28.67, a price-to-earnings-growth ratio of 1.80 and a beta of 0.49.

South Jersey Industries (NYSE:SJI) last released its earnings results on Wednesday, August 8th. The utilities provider reported $0.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. South Jersey Industries had a negative net margin of 1.22% and a positive return on equity of 11.36%. The company had revenue of $227.33 million for the quarter, compared to analyst estimates of $254.54 million. During the same quarter last year, the firm earned $0.06 EPS. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. Research analysts expect that South Jersey Industries will post 1.6 earnings per share for the current year.

In other news, Director Sunita Holzer purchased 1,500 shares of the business’s stock in a transaction on Monday, August 27th. The shares were acquired at an average price of $32.88 per share, with a total value of $49,320.00. Following the acquisition, the director now directly owns 25,866 shares in the company, valued at $850,474.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.64% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in SJI. BlackRock Inc. boosted its stake in shares of South Jersey Industries by 1.5% during the 1st quarter. BlackRock Inc. now owns 10,336,491 shares of the utilities provider’s stock valued at $291,075,000 after purchasing an additional 151,592 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of South Jersey Industries by 3.8% during the 1st quarter. Great West Life Assurance Co. Can now owns 108,220 shares of the utilities provider’s stock valued at $3,047,000 after purchasing an additional 3,945 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of South Jersey Industries by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,638,859 shares of the utilities provider’s stock valued at $46,151,000 after purchasing an additional 14,906 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of South Jersey Industries by 18.6% during the 1st quarter. Russell Investments Group Ltd. now owns 235,431 shares of the utilities provider’s stock valued at $6,629,000 after purchasing an additional 36,988 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of South Jersey Industries by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 618,532 shares of the utilities provider’s stock valued at $17,418,000 after purchasing an additional 15,362 shares in the last quarter. 85.10% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: Fundamental Analysis and Choosing Stocks

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.

Leave a Reply