South Jersey Industries, Inc. (SJI) Rating Increased to Hold at Zacks Investment Research
South Jersey Industries, Inc. (NYSE:SJI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
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. “
Other analysts have also issued reports about the company. Williams Capital upgraded South Jersey Industries from a “hold” rating to a “buy” rating and increased their price objective for the stock from $36.00 to $37.00 in a report on Tuesday, October 17th. Janney Montgomery Scott reiterated a “buy” rating on shares of South Jersey Industries in a report on Tuesday, October 17th. Morgan Stanley increased their price objective on South Jersey Industries from $38.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. J P Morgan Chase & Co increased their price objective on South Jersey Industries from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Finally, BidaskClub upgraded South Jersey Industries from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $38.00.
Shares of South Jersey Industries (NYSE SJI) opened at $32.76 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 0.97. South Jersey Industries has a 1-year low of $31.30 and a 1-year high of $38.40. The stock has a market capitalization of $2,579.78, a price-to-earnings ratio of 28.20, a P/E/G ratio of 3.65 and a beta of 0.72.
South Jersey Industries (NYSE:SJI) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). South Jersey Industries had a negative return on equity of 12.05% and a negative net margin of 17.08%. The firm had revenue of $227.13 million for the quarter, compared to analysts’ expectations of $222.92 million. analysts predict that South Jersey Industries will post 1.18 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System raised its holdings in South Jersey Industries by 14.5% during the third quarter. California Public Employees Retirement System now owns 128,845 shares of the utilities provider’s stock valued at $4,449,000 after buying an additional 16,345 shares in the last quarter. Earnest Partners LLC raised its holdings in South Jersey Industries by 1.5% during the third quarter. Earnest Partners LLC now owns 2,156,631 shares of the utilities provider’s stock valued at $74,468,000 after buying an additional 32,184 shares in the last quarter. AMP Capital Investors Ltd raised its holdings in South Jersey Industries by 12.3% during the third quarter. AMP Capital Investors Ltd now owns 21,876 shares of the utilities provider’s stock valued at $755,000 after buying an additional 2,400 shares in the last quarter. Stifel Financial Corp raised its holdings in South Jersey Industries by 5.7% during the third quarter. Stifel Financial Corp now owns 403,183 shares of the utilities provider’s stock valued at $13,926,000 after buying an additional 21,573 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA bought a new position in South Jersey Industries during the third quarter valued at about $110,000. Institutional investors own 69.88% 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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