South Jersey Industries (NYSE:SJI) has been given a $36.00 price objective by equities research analysts at Morgan Stanley in a research note issued on Thursday. The brokerage currently has a “hold” rating on the utilities provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 4.80% from the company’s previous close.

SJI has been the topic of a number of other reports. TheStreet cut shares of South Jersey Industries from a “b+” rating to a “c+” rating in a research note on Thursday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of South Jersey Industries from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. Zacks Investment Research cut shares of South Jersey Industries from a “hold” rating to a “sell” rating in a research note on Thursday, September 13th. ValuEngine upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Bank of America began coverage on shares of South Jersey Industries in a research note on Monday, July 30th. They set a “neutral” rating and a $34.00 price objective on the stock. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $36.00.

Shares of NYSE SJI opened at $34.35 on Thursday. South Jersey Industries has a fifty-two week low of $25.96 and a fifty-two week high of $36.72. The company has a current ratio of 1.15, a quick ratio of 1.12 and a debt-to-equity ratio of 1.08. The stock has a market cap of $3.02 billion, a P/E ratio of 28.67, a P/E/G ratio of 1.80 and a beta of 0.49.

South Jersey Industries (NYSE:SJI) last issued its quarterly earnings data on Wednesday, August 8th. The utilities provider reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. South Jersey Industries had a negative net margin of 1.22% and a positive return on equity of 11.36%. The business had revenue of $227.33 million for the quarter, compared to analysts’ expectations of $254.54 million. During the same period in the previous year, the business earned $0.06 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis. As a group, analysts predict that South Jersey Industries will post 1.6 earnings per share for the current fiscal year.

In other South Jersey Industries news, Director Sunita Holzer purchased 1,500 shares of the company’s stock in a transaction on Monday, August 27th. The shares were purchased at an average cost of $32.88 per share, for a total transaction of $49,320.00. Following the completion of the transaction, the director now owns 25,866 shares in the company, valued at $850,474.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Hennessy Advisors Inc. raised its position in South Jersey Industries by 2.8% in the third quarter. Hennessy Advisors Inc. now owns 368,671 shares of the utilities provider’s stock worth $13,003,000 after acquiring an additional 10,000 shares in the last quarter. United Services Automobile Association raised its position in South Jersey Industries by 12.3% in the second quarter. United Services Automobile Association now owns 14,021 shares of the utilities provider’s stock worth $469,000 after acquiring an additional 1,536 shares in the last quarter. Northern Trust Corp raised its position in South Jersey Industries by 8.8% in the second quarter. Northern Trust Corp now owns 1,064,690 shares of the utilities provider’s stock worth $35,635,000 after acquiring an additional 86,383 shares in the last quarter. FMR LLC raised its position in South Jersey Industries by 79.9% in the second quarter. FMR LLC now owns 3,725,457 shares of the utilities provider’s stock worth $124,692,000 after acquiring an additional 1,655,127 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in South Jersey Industries by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 1,476,797 shares of the utilities provider’s stock worth $49,428,000 after acquiring an additional 53,211 shares in the last quarter. Hedge funds and other institutional investors own 85.10% 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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