South Jersey Industries (NYSE:SJI) was upgraded by Guggenheim from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, Briefing.com Automated Import reports. The brokerage presently has a $35.00 price objective on the utilities provider’s stock, up from their prior price objective of $32.00. Guggenheim’s target price would indicate a potential upside of 6.51% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised South Jersey Industries from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 2nd. ValuEngine raised South Jersey Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Maxim Group assumed coverage on South Jersey Industries in a research note on Tuesday, April 16th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Morgan Stanley set a $31.00 price objective on South Jersey Industries and gave the stock a “hold” rating in a research note on Thursday, May 16th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $34.50.
Shares of NYSE SJI traded up $0.46 during mid-day trading on Thursday, hitting $32.86. 18,011 shares of the company traded hands, compared to its average volume of 555,507. South Jersey Industries has a 1 year low of $26.06 and a 1 year high of $36.72. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 4.03 and a beta of 0.73. The company has a quick ratio of 0.41, a current ratio of 0.43 and a debt-to-equity ratio of 1.40.
South Jersey Industries (NYSE:SJI) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $1.09 EPS for the quarter, beating the consensus estimate of $0.95 by $0.14. South Jersey Industries had a return on equity of 8.66% and a net margin of 3.40%. The business had revenue of $637.30 million during the quarter, compared to the consensus estimate of $571.00 million. As a group, sell-side analysts expect that South Jersey Industries will post 1.1 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. GYL Financial Synergies LLC purchased a new stake in shares of South Jersey Industries during the 1st quarter worth about $508,000. Metropolitan Life Insurance Co NY raised its stake in shares of South Jersey Industries by 5.0% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 29,006 shares of the utilities provider’s stock worth $930,000 after purchasing an additional 1,386 shares in the last quarter. FMR LLC raised its stake in shares of South Jersey Industries by 28.4% during the 1st quarter. FMR LLC now owns 4,543,958 shares of the utilities provider’s stock worth $145,724,000 after purchasing an additional 1,003,949 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of South Jersey Industries by 27.4% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 136,603 shares of the utilities provider’s stock worth $4,381,000 after purchasing an additional 29,350 shares in the last quarter. Finally, Man Group plc raised its stake in shares of South Jersey Industries by 89.7% during the 1st quarter. Man Group plc now owns 16,063 shares of the utilities provider’s stock worth $515,000 after purchasing an additional 7,595 shares in the last quarter. 82.94% of the stock is owned by institutional investors.
About South Jersey Industries
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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