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. “
A number of other equities analysts have also recently issued reports on the company. Morgan Stanley assumed coverage on South Jersey Industries in a report on Thursday, September 8th. They issued an equal weight rating and a $32.00 target price on the stock. Janney Montgomery Scott lowered South Jersey Industries from a buy rating to a neutral rating in a research report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. started coverage on South Jersey Industries in a research report on Tuesday, June 14th. They set a neutral rating and a $31.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $32.50.
Shares of South Jersey Industries (NYSE:SJI) opened at 28.34 on Wednesday. The stock has a 50 day moving average of $29.24 and a 200-day moving average of $29.53. South Jersey Industries has a 12-month low of $21.24 and a 12-month high of $32.03. The firm has a market capitalization of $2.25 billion, a P/E ratio of 20.00 and a beta of 0.70.
South Jersey Industries (NYSE:SJI) last posted its quarterly earnings results on Friday, August 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $154.40 million for the quarter, compared to the consensus estimate of $177.83 million. South Jersey Industries had a return on equity of 9.56% and a net margin of 11.45%. During the same quarter in the previous year, the company posted $0.03 earnings per share. On average, equities research analysts predict that South Jersey Industries will post $1.30 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Friday, September 9th were paid a $0.2638 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.06 annualized dividend and a yield of 3.72%. South Jersey Industries’s dividend payout ratio is currently 72.92%.
A number of hedge funds and other institutional investors have recently modified their holdings of SJI. Public Employees Retirement System of Ohio increased its position in shares of South Jersey Industries by 3.2% in the second quarter. Public Employees Retirement System of Ohio now owns 4,054 shares of the company’s stock valued at $128,000 after buying an additional 127 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of South Jersey Industries during the second quarter valued at approximately $154,000. BlackRock Japan Co. Ltd bought a new position in shares of South Jersey Industries during the second quarter valued at approximately $159,000. Integrated Investment Consultants LLC increased its position in shares of South Jersey Industries by 21.8% in the third quarter. Integrated Investment Consultants LLC now owns 5,260 shares of the company’s stock valued at $150,000 after buying an additional 942 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of South Jersey Industries during the second quarter valued at approximately $167,000. Institutional investors and hedge funds own 69.65% of the company’s stock.
South Jersey Industries Company Profile
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.
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