South Jersey Industries Inc (NYSE:SJI) has received an average recommendation of “Buy” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $35.00.
A number of equities research analysts have issued reports on the company. Morgan Stanley set a $31.00 price target on South Jersey Industries and gave the company a “hold” rating in a research report on Thursday, May 16th. ValuEngine raised South Jersey Industries from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Zacks Investment Research raised South Jersey Industries from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Maxim Group assumed coverage on South Jersey Industries in a research report on Tuesday, April 16th. They issued a “buy” rating and a $40.00 price target on the stock.
Several hedge funds and other institutional investors have recently modified their holdings of SJI. Channing Capital Management LLC acquired a new stake in shares of South Jersey Industries during the 4th quarter worth about $35,879,000. BlackRock Inc. raised its position in shares of South Jersey Industries by 7.9% during the 1st quarter. BlackRock Inc. now owns 13,772,758 shares of the utilities provider’s stock worth $441,692,000 after acquiring an additional 1,007,120 shares in the last quarter. FMR LLC raised its position 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 acquiring an additional 1,003,949 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of South Jersey Industries by 200.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,388,747 shares of the utilities provider’s stock worth $44,537,000 after acquiring an additional 926,264 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new stake in shares of South Jersey Industries during the 4th quarter worth about $33,000. 82.94% of the stock is currently owned by institutional investors and hedge funds.
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 analysts’ consensus estimates 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 company had revenue of $637.30 million during the quarter, compared to analysts’ expectations of $571.00 million. Equities research analysts anticipate that South Jersey Industries will post 1.1 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be given a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Friday, June 7th. South Jersey Industries’s dividend payout ratio (DPR) is presently 83.33%.
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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