South Jersey Industries (SJI) Sets New 12-Month Low Following Analyst Downgrade

South Jersey Industries, Inc. (NYSE:SJI)’s share price hit a new 52-week low during trading on Thursday after Morgan Stanley lowered their price target on the stock from $40.00 to $37.00. Morgan Stanley currently has an equal weight rating on the stock. South Jersey Industries traded as low as $31.37 and last traded at $32.17, with a volume of 233700 shares changing hands. The stock had previously closed at $32.14.

Other equities analysts also recently issued research reports about the company. Williams Capital raised South Jersey Industries from a “hold” rating to a “buy” rating and upped their price objective for the company from $36.00 to $37.00 in a research report on Tuesday, October 17th. Janney Montgomery Scott reaffirmed a “buy” rating on shares of South Jersey Industries in a research report on Tuesday, October 17th. Zacks Investment Research raised South Jersey Industries from a “sell” rating to a “hold” rating in a research report on Friday, November 17th. J P Morgan Chase & Co upped their price objective on South Jersey Industries from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Finally, BidaskClub downgraded South Jersey Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $37.25.

Institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of South Jersey Industries by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,025 shares of the utilities provider’s stock worth $103,000 after buying an additional 262 shares in the last quarter. First Mercantile Trust Co. grew its position in shares of South Jersey Industries by 2.0% during the 2nd quarter. First Mercantile Trust Co. now owns 3,060 shares of the utilities provider’s stock worth $105,000 after buying an additional 60 shares in the last quarter. WFG Advisors LP grew its position in shares of South Jersey Industries by 8.0% during the 2nd quarter. WFG Advisors LP now owns 3,153 shares of the utilities provider’s stock worth $108,000 after buying an additional 234 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new position in shares of South Jersey Industries during the 3rd quarter worth $110,000. Finally, Public Employees Retirement System of Ohio grew its position in shares of South Jersey Industries by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,585 shares of the utilities provider’s stock worth $122,000 after buying an additional 29 shares in the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $2,490.00, a PE ratio of 27.97, a PEG ratio of 2.74 and a beta of 0.70.

South Jersey Industries (NYSE:SJI) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). South Jersey Industries had a return on equity of 7.16% and a net margin of 3.13%. The firm had revenue of $227.13 million for the quarter, compared to the consensus estimate of $222.92 million. equities analysts forecast that South Jersey Industries, Inc. will post 1.17 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Monday, December 11th will be given a dividend of $0.28 per share. This is an increase from South Jersey Industries’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, December 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.46%. South Jersey Industries’s dividend payout ratio is presently 233.33%.

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About South Jersey Industries

South Jersey Industries, Inc (SJI) is an energy services holding company. The Company provides a range of energy-related products and services, primarily through its subsidiaries. Its subsidiaries include South Jersey Gas Company (SJG), South Jersey Energy Company (SJE), South Jersey Resources Group, LLC (SJRG), South Jersey Exploration, LLC (SJEX), Marina Energy, LLC (Marina), South Jersey Energy Service Plus, LLC (SJESP) and SJI Midstream, LLC (Midstream).

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