South Jersey Industries (NYSE:SJI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “South Jersey Industries, Inc., an energy services holding company based in Folsom, NJ, delivers energy solutions to its customers through three primary subsidiaries. South Jersey Gas delivers safe, reliable, affordable natural gas and promotes energy efficiency to customers in southern New Jersey. SJI’s non-utility businesses within South Jersey Energy Solutions promote efficiency, clean technology and renewable energy by providing customized wholesale commodity marketing and fuel management services; acquiring and marketing natural gas and electricity for retail customers; and developing, owning and operating on-site energy production facilities. SJI Midstream is also an SJI subsidiary and houses the company’s interest in the PennEast Pipeline Project. “

Other equities research analysts have also recently issued reports about the stock. ValuEngine upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, January 22nd. Maxim Group reiterated a “buy” rating and set a $40.00 price target on shares of South Jersey Industries in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. South Jersey Industries presently has a consensus rating of “Hold” and a consensus price target of $34.71.

Shares of SJI opened at $31.36 on Wednesday. South Jersey Industries has a 1-year low of $26.06 and a 1-year high of $36.72. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 4.04 and a beta of 0.77. The company has a quick ratio of 0.38, a current ratio of 0.42 and a debt-to-equity ratio of 1.66.

South Jersey Industries (NYSE:SJI) last announced its quarterly earnings results on Wednesday, February 27th. The utilities provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.12). South Jersey Industries had a net margin of 1.08% and a return on equity of 10.13%. The company had revenue of $521.95 million for the quarter, compared to analyst estimates of $442.00 million. As a group, equities research analysts predict that South Jersey Industries will post 1.08 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Rehmann Capital Advisory Group grew its holdings in shares of South Jersey Industries by 71.3% in the fourth quarter. Rehmann Capital Advisory Group now owns 990 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 412 shares in the last quarter. Oregon Public Employees Retirement Fund acquired a new position in shares of South Jersey Industries in the fourth quarter valued at approximately $33,000. Bank of Montreal Can grew its holdings in shares of South Jersey Industries by 40.1% in the fourth quarter. Bank of Montreal Can now owns 4,435 shares of the utilities provider’s stock valued at $124,000 after purchasing an additional 1,269 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of South Jersey Industries by 16.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,888 shares of the utilities provider’s stock valued at $164,000 after purchasing an additional 841 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new position in shares of South Jersey Industries in the fourth quarter valued at approximately $278,000. Institutional investors and hedge funds own 78.93% of the company’s stock.

South Jersey Industries Company Profile

South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company engages in the purchase, transmission, and sale of natural gas. It also sells natural gas and pipeline transportation capacity on a wholesale basis to residential, commercial, and industrial customers on the interstate pipeline system, as well as transports natural gas, which is purchased directly from producers or suppliers to their customers.

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