South Jersey Industries, Inc. (NYSE:SJI) had its price target raised by research analysts at Morgan Stanley from $38.00 to $39.00 in a note issued to investors on Thursday. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 7.88% from the stock’s previous close.

A number of other brokerages have also issued reports on SJI. Zacks Investment Research upgraded shares of South Jersey Industries from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub lowered shares of South Jersey Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. Williams Capital upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and raised their price objective for the company from $34.00 to $36.00 in a report on Monday, July 17th. Finally, Janney Montgomery Scott upgraded shares of South Jersey Industries from a “neutral” rating to a “buy” rating in a report on Tuesday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.25.

Shares of South Jersey Industries (SJI) traded up 2.06% during midday trading on Thursday, hitting $36.15. 442,332 shares of the stock traded hands. The firm’s 50-day moving average is $34.06 and its 200 day moving average is $34.95. South Jersey Industries has a 52 week low of $27.51 and a 52 week high of $38.40. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 33.57 and a beta of 0.77.

South Jersey Industries (NYSE:SJI) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $244.37 million during the quarter, compared to analyst estimates of $179.63 million. South Jersey Industries had a net margin of 7.02% and a return on equity of 7.71%. During the same quarter last year, the business earned $0.12 EPS. Equities analysts forecast that South Jersey Industries will post $1.19 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SJI. First Mercantile Trust Co. raised its position in South Jersey Industries by 2.0% in the second quarter. First Mercantile Trust Co. now owns 3,060 shares of the utilities provider’s stock valued at $105,000 after buying an additional 60 shares during the last quarter. Teacher Retirement System of Texas raised its position in South Jersey Industries by 2.4% in the second quarter. Teacher Retirement System of Texas now owns 6,349 shares of the utilities provider’s stock valued at $217,000 after buying an additional 150 shares during the last quarter. Nisa Investment Advisors LLC raised its position in South Jersey Industries by 0.4% in the second quarter. Nisa Investment Advisors LLC now owns 52,470 shares of the utilities provider’s stock valued at $1,793,000 after buying an additional 200 shares during the last quarter. State of Alaska Department of Revenue raised its position in South Jersey Industries by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 8,810 shares of the utilities provider’s stock valued at $314,000 after buying an additional 210 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in South Jersey Industries by 9.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,025 shares of the utilities provider’s stock valued at $103,000 after buying an additional 262 shares during the last quarter. Hedge funds and other institutional investors own 69.51% of the company’s stock.

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 (Midstream).

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

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