South Jersey Industries, Inc. (NYSE:SJI) had its price target increased by equities research analysts at Morgan Stanley from $39.00 to $40.00 in a report issued on Friday. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 13.51% from the company’s current price.

A number of other brokerages have also recently issued reports on SJI. Zacks Investment Research raised shares of South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub raised shares of South Jersey Industries from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. Williams Capital raised shares of South Jersey Industries from a “hold” rating to a “buy” rating and lifted their price objective for the company from $34.00 to $36.00 in a research note on Monday, July 17th. Finally, Janney Montgomery Scott raised shares of South Jersey Industries from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $39.50.

South Jersey Industries (NYSE SJI) traded up 0.69% during midday trading on Friday, reaching $35.21. The company had a trading volume of 79,860 shares. The company has a market capitalization of $2.79 billion, a PE ratio of 32.69 and a beta of 0.77. South Jersey Industries has a one year low of $27.51 and a one year high of $38.40. The stock’s 50 day moving average is $34.91 and its 200 day moving average is $35.32.

South Jersey Industries (NYSE:SJI) last announced 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 for the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.12 earnings per share. Equities research analysts forecast that South Jersey Industries will post $1.19 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Morgan Stanley Boosts South Jersey Industries, Inc. (SJI) Price Target to $40.00” was published by Daily Political and is the property of of Daily Political. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/09/08/morgan-stanley-boosts-south-jersey-industries-inc-sji-price-target-to-40-00.html.

Several hedge funds and other institutional investors have recently bought and sold shares of SJI. Bank of Montreal Can grew its stake in shares of South Jersey Industries by 180.8% during the first quarter. Bank of Montreal Can now owns 3,370 shares of the utilities provider’s stock worth $120,000 after buying an additional 2,170 shares during the last quarter. First Mercantile Trust Co. grew its stake in shares of South Jersey Industries by 2.7% during the first quarter. First Mercantile Trust Co. now owns 3,000 shares of the utilities provider’s stock worth $107,000 after buying an additional 80 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of South Jersey Industries by 8.6% during the first quarter. Janney Montgomery Scott LLC now owns 13,998 shares of the utilities provider’s stock worth $499,000 after buying an additional 1,114 shares during the last quarter. Strs Ohio grew its stake in shares of South Jersey Industries by 9.7% during the first quarter. Strs Ohio now owns 7,900 shares of the utilities provider’s stock worth $281,000 after buying an additional 700 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in shares of South Jersey Industries by 6.5% during the first quarter. Great West Life Assurance Co. Can now owns 112,368 shares of the utilities provider’s stock worth $4,005,000 after buying an additional 6,837 shares during the last quarter. 69.48% of the stock is currently owned by hedge funds and other institutional investors.

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).

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

Receive News & Ratings for South Jersey Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South Jersey Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.