South Jersey Industries, Inc. (SJI) Upgraded by BidaskClub to Sell
South Jersey Industries, Inc. (NYSE:SJI) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Friday.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of South Jersey Industries from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Morgan Stanley upped their price target on shares of South Jersey Industries from $38.00 to $39.00 and gave the company an “equal weight” rating in a report on Thursday. Williams Capital upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and upped their price target 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 equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. South Jersey Industries currently has a consensus rating of “Hold” and an average target price of $39.25.
Shares of South Jersey Industries (SJI) traded down 0.83% during trading on Friday, reaching $35.85. 158,242 shares of the company traded hands. The firm’s 50-day moving average is $34.10 and its 200-day moving average is $34.96. South Jersey Industries has a 12-month low of $27.51 and a 12-month high of $38.40. The stock has a market capitalization of $2.84 billion, a PE ratio of 33.29 and a beta of 0.77.
South Jersey Industries (NYSE:SJI) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. The firm 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 period in the previous year, the business posted $0.12 EPS. On average, equities analysts predict that South Jersey Industries will post $1.19 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of SJI. BlackRock Inc. raised its position in shares of South Jersey Industries by 46,816.5% in the first quarter. BlackRock Inc. now owns 9,843,088 shares of the utilities provider’s stock valued at $350,905,000 after buying an additional 9,822,108 shares during the period. Goldman Sachs Group Inc. raised its position in shares of South Jersey Industries by 54.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,311,983 shares of the utilities provider’s stock valued at $82,422,000 after buying an additional 812,762 shares during the period. Norges Bank bought a new position in shares of South Jersey Industries during the fourth quarter valued at approximately $18,138,000. Vanguard Group Inc. raised its position in shares of South Jersey Industries by 6.7% in the first quarter. Vanguard Group Inc. now owns 7,609,432 shares of the utilities provider’s stock valued at $271,277,000 after buying an additional 474,868 shares during the period. Finally, Asset Management One Co. Ltd. raised its position in shares of South Jersey Industries by 2,451.8% in the first quarter. Asset Management One Co. Ltd. now owns 154,282 shares of the utilities provider’s stock valued at $5,480,000 after buying an additional 148,236 shares during the period. Institutional investors and hedge funds own 69.51% of the company’s stock.
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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