Maxim Group started coverage on shares of South Jersey Industries (NYSE:SJI) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $40.00 price target on the utilities provider’s stock. Maxim Group’s price objective indicates a potential upside of 27.43% from the company’s current price.
The analysts wrote, “We believe SJI has various opportunities to invest in natural gas infrastructure, including improving distribution systems in parts of its service territory in New Jersey, continuing to build a new interstate natural gas pipeline from Pennsylvania called PennEast, and managing the supply of natural gas for more power plants.””
Several other brokerages have also recently issued reports on SJI. Zacks Investment Research raised shares of South Jersey Industries from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 14th. ValuEngine cut South Jersey Industries from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. South Jersey Industries presently has a consensus rating of “Hold” and an average target price of $34.71.
Shares of South Jersey Industries stock traded up $0.03 during mid-day trading on Tuesday, hitting $31.39. 679 shares of the stock were exchanged, compared to its average volume of 571,139. South Jersey Industries has a 12 month low of $26.06 and a 12 month high of $36.72. The company has a quick ratio of 0.38, a current ratio of 0.42 and a debt-to-equity ratio of 1.66. The stock has a market cap of $2.89 billion, a P/E ratio of 22.75, a P/E/G ratio of 4.04 and a beta of 0.77.
South Jersey Industries (NYSE:SJI) last posted its earnings results on Wednesday, February 27th. The utilities provider reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.12). The firm had revenue of $521.95 million for the quarter, compared to the consensus estimate of $442.00 million. South Jersey Industries had a return on equity of 10.13% and a net margin of 1.08%. On average, equities analysts anticipate that South Jersey Industries will post 1.08 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in South Jersey Industries by 104.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 74,357 shares of the utilities provider’s stock valued at $2,623,000 after buying an additional 37,993 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of South Jersey Industries by 3.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,532,340 shares of the utilities provider’s stock worth $54,045,000 after buying an additional 55,543 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of South Jersey Industries by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,739,895 shares of the utilities provider’s stock worth $61,364,000 after buying an additional 5,016 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of South Jersey Industries by 2,074.0% during the 3rd quarter. Franklin Resources Inc. now owns 151,748 shares of the utilities provider’s stock worth $5,352,000 after buying an additional 144,768 shares in the last quarter. Finally, Riverhead Capital Management LLC lifted its position in shares of South Jersey Industries by 31.0% during the 3rd quarter. Riverhead Capital Management LLC now owns 12,689 shares of the utilities provider’s stock worth $448,000 after buying an additional 3,000 shares in the last quarter. 78.93% of the stock is owned by institutional investors.
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.
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