South Jersey Industries (SJI) Given a $31.00 Price Target by Morgan Stanley Analysts

South Jersey Industries (NYSE:SJI) has been given a $31.00 target price by stock analysts at Morgan Stanley in a report released on Thursday, TipRanks reports. The firm currently has a “hold” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential downside of 7.44% from the stock’s current price.

SJI has been the topic of a number of other research reports. Zacks Investment Research raised South Jersey Industries from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 2nd. ValuEngine raised South Jersey Industries from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, Maxim Group assumed coverage on South Jersey Industries in a research note on Tuesday, April 16th. They set a “buy” rating and a $40.00 price target on the stock. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $34.43.

Shares of South Jersey Industries stock traded down $0.03 during trading hours on Thursday, reaching $33.49. 429,251 shares of the company’s stock were exchanged, compared to its average volume of 653,587. South Jersey Industries has a 52-week low of $26.06 and a 52-week high of $36.72. The firm has a market cap of $3.06 billion, a PE ratio of 24.27, a P/E/G ratio of 4.20 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 issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.14. South Jersey Industries had a return on equity of 8.66% and a net margin of 3.40%. The company had revenue of $637.30 million for the quarter, compared to analyst estimates of $571.00 million. Equities research analysts anticipate that South Jersey Industries will post 1.1 EPS for the current year.

Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in shares of South Jersey Industries by 104.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 74,357 shares of the utilities provider’s stock worth $2,623,000 after buying an additional 37,993 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of South Jersey Industries by 1.6% during the 4th quarter. State of Alaska Department of Revenue now owns 28,620 shares of the utilities provider’s stock worth $795,000 after buying an additional 450 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of South Jersey Industries by 6.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 51,250 shares of the utilities provider’s stock worth $1,425,000 after buying an additional 3,100 shares during the last quarter. Peregrine Capital Management LLC increased its holdings in shares of South Jersey Industries by 4.3% during the 4th quarter. Peregrine Capital Management LLC now owns 234,149 shares of the utilities provider’s stock worth $6,509,000 after buying an additional 9,599 shares during the last quarter. Finally, Bowling Portfolio Management LLC acquired a new stake in shares of South Jersey Industries during the 4th quarter worth $1,138,000. 80.20% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for South Jersey Industries (NYSE:SJI)

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