South Jersey Industries (NYSE:SJI) Downgraded by ValuEngine

South Jersey Industries (NYSE:SJI) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.

Several other equities research analysts have also recently commented on the company. Zacks Investment Research cut South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Morgan Stanley set a $30.00 price target on South Jersey Industries and gave the company a “hold” rating in a research note on Friday, August 16th. Maxim Group set a $40.00 price target on South Jersey Industries and gave the company a “buy” rating in a research note on Friday, September 13th. JPMorgan Chase & Co. cut South Jersey Industries from an “overweight” rating to a “neutral” rating and set a $32.00 price target for the company. in a research note on Monday, August 5th. Finally, TheStreet cut South Jersey Industries from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.43.

NYSE:SJI opened at $32.00 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.26 and a quick ratio of 0.23. South Jersey Industries has a fifty-two week low of $26.06 and a fifty-two week high of $34.48. The stock’s 50-day moving average is $32.47 and its two-hundred day moving average is $32.51. The stock has a market cap of $2.97 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 3.48 and a beta of 0.69.

South Jersey Industries (NYSE:SJI) last announced its quarterly earnings results on Wednesday, August 7th. The utilities provider reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.09). The firm had revenue of $266.93 million during the quarter, compared to the consensus estimate of $254.12 million. South Jersey Industries had a net margin of 7.97% and a return on equity of 7.10%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS. On average, equities research analysts anticipate that South Jersey Industries will post 1.09 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in SJI. Crossmark Global Holdings Inc. boosted its position in South Jersey Industries by 4.7% during the second quarter. Crossmark Global Holdings Inc. now owns 7,060 shares of the utilities provider’s stock worth $238,000 after purchasing an additional 314 shares during the period. Accurate Investment Solutions Inc. lifted its holdings in shares of South Jersey Industries by 2.3% during the second quarter. Accurate Investment Solutions Inc. now owns 120,876 shares of the utilities provider’s stock worth $4,077,000 after buying an additional 2,759 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of South Jersey Industries by 14.4% during the second quarter. Nisa Investment Advisors LLC now owns 55,550 shares of the utilities provider’s stock worth $1,874,000 after buying an additional 7,000 shares during the last quarter. 6 Meridian lifted its holdings in shares of South Jersey Industries by 1.9% during the second quarter. 6 Meridian now owns 23,344 shares of the utilities provider’s stock worth $787,000 after buying an additional 442 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of South Jersey Industries by 10.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 36,669 shares of the utilities provider’s stock worth $1,237,000 after buying an additional 3,553 shares during the last quarter. 82.04% of the stock is owned by hedge funds and other institutional investors.

About South Jersey Industries

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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