South Jersey Industries Inc. (NYSE:SJI) has been given an average recommendation of “Buy” by the ten analysts that are covering the stock. Five investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $32.50.
Several research firms have recently issued reports on SJI. Zacks Investment Research raised South Jersey Industries from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 7th. JPMorgan Chase & Co. began coverage on South Jersey Industries in a research note on Tuesday, June 14th. They set a “neutral” rating and a $31.00 target price on the stock. Janney Montgomery Scott cut South Jersey Industries from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 28th. Finally, Morgan Stanley began coverage on South Jersey Industries in a research note on Thursday, September 8th. They set an “equal weight” rating and a $32.00 target price on the stock.
Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in South Jersey Industries by 3.2% in the second quarter. Public Employees Retirement System of Ohio now owns 4,054 shares of the company’s stock worth $128,000 after buying an additional 127 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in South Jersey Industries during the second quarter worth approximately $154,000. BlackRock Japan Co. Ltd bought a new stake in South Jersey Industries during the second quarter worth approximately $159,000. Sei Investments Co. bought a new stake in South Jersey Industries during the second quarter worth approximately $167,000. Finally, TD Asset Management Inc. bought a new stake in South Jersey Industries during the second quarter worth approximately $211,000. 69.67% of the stock is currently owned by institutional investors.
Shares of South Jersey Industries (NYSE:SJI) opened at 27.52 on Friday. The company has a 50-day moving average price of $29.43 and a 200-day moving average price of $29.54. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 19.42 and a beta of 0.70. South Jersey Industries has a 52-week low of $21.24 and a 52-week high of $32.03.
South Jersey Industries (NYSE:SJI) last posted its earnings results on Friday, August 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. South Jersey Industries had a net margin of 11.45% and a return on equity of 9.56%. The business had revenue of $154.40 million for the quarter, compared to analysts’ expectations of $177.83 million. During the same period last year, the firm posted $0.03 earnings per share. On average, equities analysts anticipate that South Jersey Industries will post $1.30 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Friday, September 9th were paid a $0.2638 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.06 annualized dividend and a yield of 3.83%. South Jersey Industries’s payout ratio is 72.92%.
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.
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