Shares of South Jersey Industries, Inc. (NYSE:SJI – Get Rating) have earned an average rating of “Hold” from the eight ratings firms that are currently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $24.67.
SJI has been the topic of several research reports. Bank of America lowered South Jersey Industries from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Thursday, February 17th. StockNews.com upgraded South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Thursday, May 12th. Maxim Group lowered South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Friday, February 25th. Finally, Zacks Investment Research lowered South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Saturday.
Several hedge funds have recently added to or reduced their stakes in the company. OLD Mission Capital LLC acquired a new position in shares of South Jersey Industries in the 3rd quarter worth approximately $892,000. Goldman Sachs Group Inc. boosted its holdings in shares of South Jersey Industries by 3.3% in the 3rd quarter. Goldman Sachs Group Inc. now owns 396,050 shares of the utilities provider’s stock worth $8,420,000 after acquiring an additional 12,609 shares in the last quarter. Credit Suisse AG boosted its holdings in shares of South Jersey Industries by 14.6% in the 3rd quarter. Credit Suisse AG now owns 115,629 shares of the utilities provider’s stock worth $2,458,000 after acquiring an additional 14,690 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of South Jersey Industries by 126.8% in the 3rd quarter. Hsbc Holdings PLC now owns 53,815 shares of the utilities provider’s stock worth $1,150,000 after acquiring an additional 30,082 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in shares of South Jersey Industries by 12.0% in the 3rd quarter. Arizona State Retirement System now owns 30,623 shares of the utilities provider’s stock worth $651,000 after acquiring an additional 3,273 shares in the last quarter. Institutional investors own 84.30% of the company’s stock.
South Jersey Industries (NYSE:SJI – Get Rating) last posted its quarterly earnings data on Wednesday, May 4th. The utilities provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.07). The business had revenue of $824.58 million during the quarter, compared to the consensus estimate of $689.67 million. South Jersey Industries had a return on equity of 9.82% and a net margin of 4.14%. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share. As a group, research analysts predict that South Jersey Industries will post 1.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 10th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $1.24 annualized dividend and a dividend yield of 3.58%.
About South Jersey Industries (Get Rating)
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 purchased directly from producers or suppliers to customers.
- Get a free copy of the StockNews.com research report on South Jersey Industries (SJI)
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