South Jersey Industries Inc (NYSE:SJI) Receives $35.00 Average Price Target from Analysts
South Jersey Industries Inc (NYSE:SJI) has been given an average recommendation of “Buy” by the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $35.25.
Several equities analysts have recently weighed in on the stock. TheStreet upgraded shares of South Jersey Industries from a “c+” rating to a “b-” rating in a research note on Tuesday, July 9th. ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Zacks Investment Research upgraded shares of Smith Micro Software from a “hold” rating to a “buy” rating and set a $3.75 price objective on the stock in a research note on Saturday. Maxim Group assumed coverage on shares of South Jersey Industries in a research note on Tuesday, April 16th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Morgan Stanley set a $100.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research note on Thursday, May 16th.
SJI traded up $0.61 during midday trading on Wednesday, hitting $33.87. 473,313 shares of the company traded hands, compared to its average volume of 405,118. The firm has a 50-day moving average of $33.40. South Jersey Industries has a 52 week low of $26.06 and a 52 week high of $36.72. 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 firm has a market cap of $3.07 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 4.21 and a beta of 0.75.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 10th will be issued a $0.287 dividend. This represents a $1.15 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Monday, September 9th. South Jersey Industries’s dividend payout ratio is 83.33%.
A number of institutional investors have recently added to or reduced their stakes in SJI. Versant Capital Management Inc increased 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 in the last quarter. Pinnacle Financial Partners Inc. purchased a new stake in South Jersey Industries in the 1st quarter worth approximately $61,000. Quadrant Capital Group LLC increased its holdings 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 acquiring an additional 1,858 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in South Jersey Industries in the 2nd quarter worth approximately $107,000. Finally, Sageworth Trust Co purchased a new stake in South Jersey Industries in the 2nd quarter worth approximately $135,000. 82.93% of the stock is 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.
Read More: Understanding the different types of bonds
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.