South Jersey Industries Inc. (SJI) Rating Lowered to Sell at Zacks Investment Research
South Jersey Industries Inc. (NYSE:SJI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “South Jersey Inds Inc. is engaged in the business of operating, through subsidiaries, various business enterprises. The company’s most significant subsidiary is South Jersey Gas Company (SJG). SJG is a public utility company engaged in the purchase, transmission and sale of natural gas for residential, commercial and industrial use. SJG also makes off-system sales of natural gas on a wholesale basis to various customers on the interstate pipeline system and transports natural gas. “
Several other research analysts also recently weighed in on the stock. Morgan Stanley assumed coverage on shares of South Jersey Industries in a report on Thursday, September 8th. They issued an “equal weight” rating and a $32.00 target price for the company. Janney Montgomery Scott downgraded shares of South Jersey Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. began coverage on shares of South Jersey Industries in a report on Tuesday, June 14th. They issued a “neutral” rating and a $31.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. South Jersey Industries has an average rating of “Hold” and a consensus target price of $32.50.
Shares of South Jersey Industries (NYSE:SJI) opened at 28.44 on Wednesday. The company has a 50 day moving average price of $29.30 and a 200 day moving average price of $29.52. The company has a market capitalization of $2.25 billion, a PE ratio of 20.07 and a beta of 0.70. South Jersey Industries has a 1-year low of $21.24 and a 1-year high of $32.03.
South Jersey Industries (NYSE:SJI) last issued its earnings results on Friday, August 5th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.02. The firm earned $154.40 million during the quarter, compared to the consensus estimate of $177.83 million. South Jersey Industries had a return on equity of 9.56% and a net margin of 11.45%. During the same period in the prior year, the company posted $0.03 EPS. Equities analysts predict that South Jersey Industries will post $1.30 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Friday, September 9th were issued a dividend of $0.2638 per share. This represents a $1.06 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Wednesday, September 7th. South Jersey Industries’s dividend payout ratio (DPR) is presently 72.92%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SJI. Public Employees Retirement System of Ohio boosted its stake in shares of 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 valued at $128,000 after buying an additional 127 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of South Jersey Industries during the second quarter valued at about $154,000. BlackRock Japan Co. Ltd acquired a new stake in shares of South Jersey Industries during the second quarter valued at about $159,000. Sei Investments Co. acquired a new stake in shares of South Jersey Industries during the second quarter valued at about $167,000. Finally, TD Asset Management Inc. acquired a new stake in shares of South Jersey Industries during the second quarter valued at about $211,000. 69.67% of the stock is owned by institutional investors and hedge funds.
South Jersey Industries Company Profile
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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