South Jersey Industries Inc (NYSE:SJI) has received a consensus recommendation of “Hold” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $32.33.
SJI has been the topic of several recent research reports. Zacks Investment Research raised shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Saturday, March 10th. TheStreet downgraded shares of South Jersey Industries from a “b-” rating to a “c+” rating in a report on Wednesday, January 10th. Morgan Stanley reduced their price target on shares of South Jersey Industries from $35.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 13th. Guggenheim reaffirmed a “hold” rating and issued a $32.00 price target on shares of South Jersey Industries in a report on Wednesday, January 3rd. Finally, Hilliard Lyons downgraded shares of South Jersey Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd.
Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of South Jersey Industries by 3.0% in the fourth quarter. BlackRock Inc. now owns 10,184,899 shares of the utilities provider’s stock valued at $318,072,000 after buying an additional 294,094 shares during the last quarter. Goldman Sachs Group Inc. increased its position in South Jersey Industries by 6.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,615,611 shares of the utilities provider’s stock worth $81,685,000 after purchasing an additional 163,289 shares during the last quarter. Earnest Partners LLC increased its position in South Jersey Industries by 1.5% during the third quarter. Earnest Partners LLC now owns 2,156,631 shares of the utilities provider’s stock worth $74,468,000 after purchasing an additional 32,184 shares during the last quarter. Wells Fargo & Company MN increased its position in South Jersey Industries by 9.4% during the third quarter. Wells Fargo & Company MN now owns 1,907,795 shares of the utilities provider’s stock worth $65,876,000 after purchasing an additional 164,517 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in South Jersey Industries by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,555,260 shares of the utilities provider’s stock worth $53,704,000 after purchasing an additional 28,053 shares during the last quarter. 70.53% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE SJI traded down $0.34 on Wednesday, hitting $29.58. The company’s stock had a trading volume of 193,529 shares, compared to its average volume of 574,515. South Jersey Industries has a 12-month low of $25.96 and a 12-month high of $38.40. The company has a market capitalization of $2,381.49, a PE ratio of 24.33, a price-to-earnings-growth ratio of 1.91 and a beta of 0.59. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.50 and a quick ratio of 0.44.
South Jersey Industries (NYSE:SJI) last announced its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.08. South Jersey Industries had a negative net margin of 0.28% and a positive return on equity of 7.84%. The company had revenue of $345.74 million for the quarter, compared to the consensus estimate of $336.19 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. analysts forecast that South Jersey Industries will post 1.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Stockholders of record on Monday, March 19th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Friday, March 16th. South Jersey Industries’s dividend payout ratio is presently 91.06%.
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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