South Jersey Industries Inc (NYSE:SJI) gapped down before the market opened on Wednesday . The stock had previously closed at $31.88, but opened at $30.69. South Jersey Industries shares last traded at $30.11, with a volume of 2702812 shares.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Saturday, March 10th. TheStreet cut shares of South Jersey Industries from a “b-” rating to a “c+” rating in a report on Wednesday, January 10th. Morgan Stanley reduced their target price on shares of South Jersey Industries from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, February 13th. Hilliard Lyons cut shares of South Jersey Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. Finally, Guggenheim reissued a “hold” rating and set a $32.00 target price on shares of South Jersey Industries in a report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. South Jersey Industries has a consensus rating of “Hold” and a consensus target price of $32.17.
The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.44 and a current ratio of 0.50. The firm has a market capitalization of $2,428.45, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.93 and a beta of 0.59.
South Jersey Industries (NYSE:SJI) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $345.74 million during the quarter, compared to analysts’ expectations of $336.19 million. During the same quarter last year, the company posted $0.42 earnings per share. analysts anticipate that South Jersey Industries Inc will post 1.58 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Monday, March 19th were issued a $0.28 dividend. The ex-dividend date was Friday, March 16th. This represents a $1.12 dividend on an annualized basis and a yield of 3.72%. South Jersey Industries’s payout ratio is 91.06%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank increased its holdings in South Jersey Industries by 2.0% in the fourth quarter. Swiss National Bank now owns 135,509 shares of the utilities provider’s stock valued at $4,232,000 after buying an additional 2,600 shares in the last quarter. Macquarie Group Ltd. increased its holdings in South Jersey Industries by 30.9% in the fourth quarter. Macquarie Group Ltd. now owns 1,419,647 shares of the utilities provider’s stock valued at $44,336,000 after buying an additional 335,372 shares in the last quarter. Arizona State Retirement System increased its holdings in South Jersey Industries by 224.1% in the fourth quarter. Arizona State Retirement System now owns 133,579 shares of the utilities provider’s stock valued at $4,172,000 after buying an additional 92,361 shares in the last quarter. Miles Capital Inc. purchased a new position in South Jersey Industries in the fourth quarter valued at $310,000. Finally, Keeley Teton Advisors LLC increased its holdings in South Jersey Industries by 21.0% in the fourth quarter. Keeley Teton Advisors LLC now owns 58,352 shares of the utilities provider’s stock valued at $1,822,000 after buying an additional 10,132 shares in the last quarter. 70.12% of the stock is owned by institutional investors.
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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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