Morgan Stanley set a $31.00 target price on South Jersey Industries (NYSE:SJI) in a research report report published on Thursday morning, TipRanks reports. The firm currently has a hold rating on the utilities provider’s stock.
Several other research firms have also issued reports on SJI. ValuEngine upgraded shares of South Jersey Industries from a hold rating to a buy rating in a report on Monday, May 13th. Zacks Investment Research upgraded shares of South Jersey Industries from a strong sell rating to a hold rating in a report on Thursday, May 2nd. Finally, Maxim Group initiated coverage on shares of South Jersey Industries in a report on Tuesday, April 16th. They issued a buy rating and a $40.00 price objective for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $34.43.
SJI stock opened at $33.49 on Thursday. South Jersey Industries has a 52-week low of $26.06 and a 52-week high of $36.72. The company has a market cap of $3.09 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76. The company has a quick ratio of 0.41, a current ratio of 0.43 and a debt-to-equity ratio of 1.40.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 10th will be issued a $0.2875 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.15 dividend on an annualized basis and a yield of 3.43%. South Jersey Industries’s payout ratio is currently 83.33%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rehmann Capital Advisory Group raised its holdings in South Jersey Industries by 71.3% in the 4th quarter. Rehmann Capital Advisory Group now owns 990 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 412 shares during the last quarter. Versant Capital Management Inc raised its holdings in South Jersey Industries by 221.7% in the 1st quarter. Versant Capital Management Inc now owns 1,155 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 796 shares during the last quarter. Coastal Investment Advisors Inc. bought a new stake in South Jersey Industries in the 1st quarter worth approximately $37,000. Pinnacle Financial Partners Inc. bought a new stake in South Jersey Industries in the 1st quarter worth approximately $61,000. Finally, Quadrant Capital Group LLC grew its position in South Jersey Industries by 720.2% in the 1st quarter. Quadrant Capital Group LLC now owns 2,116 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 1,858 shares during the period. Institutional investors own 80.20% of the company’s stock.
South Jersey Industries Company Profile
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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