South Jersey Industries Inc (NYSE:SJI) shares rose 8.8% during mid-day trading on Wednesday . The stock traded as high as $22.21 and last traded at $24.06, approximately 45,925 shares were traded during trading. A decline of 97% from the average daily volume of 1,413,795 shares. The stock had previously closed at $22.11.
SJI has been the subject of several recent analyst reports. Wells Fargo & Co decreased their price target on South Jersey Industries from $32.00 to $29.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Maxim Group decreased their price target on South Jersey Industries from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. downgraded South Jersey Industries from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $31.00 to $29.00 in a research note on Wednesday, January 8th. Morgan Stanley downgraded South Jersey Industries from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $31.00 to $29.00 in a research note on Wednesday, January 8th. Finally, Zacks Investment Research downgraded South Jersey Industries from a “hold” rating to a “sell” rating in a research note on Friday, March 13th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. South Jersey Industries presently has a consensus rating of “Hold” and a consensus price target of $32.33.
The company has a market cap of $2.04 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.41 and a beta of 0.81. The firm has a 50 day moving average price of $28.61 and a 200-day moving average price of $30.98. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.34 and a current ratio of 0.38.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Wednesday, March 18th will be given a dividend of $0.295 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.18 annualized dividend and a dividend yield of 4.59%. South Jersey Industries’s dividend payout ratio is presently 105.36%.
Several hedge funds and other institutional investors have recently bought and sold shares of SJI. Duncker Streett & Co. Inc. acquired a new position in shares of South Jersey Industries during the 4th quarter worth about $34,000. CFM Wealth Partners LLC acquired a new position in shares of South Jersey Industries during the 4th quarter worth about $40,000. Citizens Financial Group Inc RI acquired a new position in shares of South Jersey Industries during the 4th quarter worth about $51,000. Advisory Services Network LLC raised its holdings in South Jersey Industries by 43.0% in the 4th quarter. Advisory Services Network LLC now owns 1,702 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 512 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. acquired a new position in South Jersey Industries in the 4th quarter valued at approximately $62,000. 84.36% of the stock is owned by institutional investors and hedge funds.
About South Jersey Industries (NYSE:SJI)
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.
See Also: LIBOR
Receive News & Ratings for South Jersey Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South Jersey Industries and related companies with MarketBeat.com's FREE daily email newsletter.