South Jersey Industries (SJI) PT Set at $31.00 by Morgan Stanley

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.

South Jersey Industries (NYSE:SJI) last released its earnings results on Wednesday, May 8th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.14. South Jersey Industries had a net margin of 3.40% and a return on equity of 8.66%. The firm had revenue of $637.30 million during the quarter, compared to analyst estimates of $571.00 million. Sell-side analysts predict that South Jersey Industries will post 1.1 EPS for the current year.

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.

See Also: Penny Stocks, Risk and Reward Factors

Analyst Recommendations for South Jersey Industries (NYSE:SJI)

Receive News & Ratings for South Jersey Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South Jersey Industries and related companies with MarketBeat.com's FREE daily email newsletter.