South Jersey Industries Inc (NYSE:SJI) has earned a consensus rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $35.33.
A number of analysts have issued reports on the stock. Zacks Investment Research raised shares of South Jersey Industries from a “strong sell” rating to a “hold” rating in a report on Thursday, May 2nd. Maxim Group assumed coverage on shares of South Jersey Industries in a research report on Tuesday, April 16th. They issued a “buy” rating and a $40.00 target price for the company. Finally, ValuEngine cut shares of South Jersey Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, April 10th.
Shares of SJI stock opened at $32.62 on Friday. The stock has a market cap of $2.95 billion, a P/E ratio of 23.64, a P/E/G ratio of 4.04 and a beta of 0.76. The company has a quick ratio of 0.38, a current ratio of 0.43 and a debt-to-equity ratio of 1.40. South Jersey Industries has a 52 week low of $26.06 and a 52 week high of $36.72.
The company 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 $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend is Friday, June 7th. South Jersey Industries’s payout ratio is presently 83.33%.
Large investors have recently modified their holdings of the company. State of Wisconsin Investment Board increased its position in South Jersey Industries by 29.7% during the 1st quarter. State of Wisconsin Investment Board now owns 115,333 shares of the utilities provider’s stock worth $3,699,000 after purchasing an additional 26,400 shares in the last quarter. Principal Financial Group Inc. increased its position in South Jersey Industries by 6.7% during the 1st quarter. Principal Financial Group Inc. now owns 748,550 shares of the utilities provider’s stock worth $24,006,000 after purchasing an additional 46,736 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in South Jersey Industries during the 1st quarter worth approximately $437,000. Swiss National Bank increased its position in South Jersey Industries by 3.0% during the 1st quarter. Swiss National Bank now owns 155,809 shares of the utilities provider’s stock worth $4,997,000 after purchasing an additional 4,600 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in South Jersey Industries by 33.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 25,987 shares of the utilities provider’s stock worth $833,000 after purchasing an additional 6,496 shares in the last quarter. Institutional investors own 80.21% 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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