South Jersey Industries (SJI) Upgraded at ValuEngine

South Jersey Industries (NYSE:SJI) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Wednesday.

A number of other research firms also recently commented on SJI. Zacks Investment Research downgraded South Jersey Industries from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 12th. TheStreet upgraded South Jersey Industries from a “c+” rating to a “b” rating in a report on Monday, May 7th. Williams Capital upped their price objective on South Jersey Industries from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, April 24th. Finally, JPMorgan Chase & Co. upped their price objective on South Jersey Industries from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Tuesday, April 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. South Jersey Industries has an average rating of “Hold” and an average target price of $33.33.

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SJI stock opened at $33.12 on Wednesday. The firm has a market cap of $2.76 billion, a PE ratio of 26.93, a PEG ratio of 1.64 and a beta of 0.59. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.45 and a quick ratio of 0.41. South Jersey Industries has a 52 week low of $25.96 and a 52 week high of $36.41.

South Jersey Industries (NYSE:SJI) last released its quarterly earnings data on Monday, May 7th. The utilities provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.33. The business had revenue of $521.95 million during the quarter, compared to the consensus estimate of $430.43 million. South Jersey Industries had a return on equity of 11.33% and a net margin of 5.23%. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS. analysts forecast that South Jersey Industries will post 1.59 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in South Jersey Industries by 1.5% in the 1st quarter. BlackRock Inc. now owns 10,336,491 shares of the utilities provider’s stock valued at $291,075,000 after purchasing an additional 151,592 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in South Jersey Industries by 6.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,615,611 shares of the utilities provider’s stock valued at $81,685,000 after purchasing an additional 163,289 shares in the last quarter. Earnest Partners LLC increased its holdings in South Jersey Industries by 2.1% in the 1st quarter. Earnest Partners LLC now owns 2,195,310 shares of the utilities provider’s stock valued at $61,820,000 after purchasing an additional 45,784 shares in the last quarter. Wells Fargo & Company MN increased its holdings in South Jersey Industries by 6.7% in the 1st quarter. Wells Fargo & Company MN now owns 1,998,641 shares of the utilities provider’s stock valued at $56,281,000 after purchasing an additional 124,624 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in South Jersey Industries by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,638,859 shares of the utilities provider’s stock valued at $46,151,000 after purchasing an additional 14,906 shares in the last quarter. Hedge funds and other institutional investors own 69.82% of the company’s stock.

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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Analyst Recommendations for South Jersey Industries (NYSE:SJI)

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