Williams Capital lowered shares of South Jersey Industries Inc. (NYSE:SJI) from a buy rating to a hold rating in a report published on Wednesday morning. They currently have $34.00 target price on the stock, up from their prior target price of $33.00.
Other equities research analysts have also recently issued research reports about the company. Morgan Stanley initiated coverage on South Jersey Industries in a research note on Thursday, September 8th. They set an equal weight rating and a $32.00 target price for the company. Zacks Investment Research raised South Jersey Industries from a sell rating to a hold rating in a research note on Wednesday, August 10th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $32.80.
South Jersey Industries (NYSE:SJI) opened at 33.61 on Wednesday. The stock has a 50 day moving average price of $29.87 and a 200 day moving average price of $30.07. South Jersey Industries has a 52-week low of $21.24 and a 52-week high of $33.61. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 20.14 and a beta of 0.58.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Friday, December 9th will be given a dividend of $0.273 per share. This is a positive change from South Jersey Industries’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Wednesday, December 7th. South Jersey Industries’s dividend payout ratio (DPR) is currently 60.34%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in South Jersey Industries by 3.2% in the second quarter. Public Employees Retirement System of Ohio now owns 4,054 shares of the company’s stock worth $128,000 after buying an additional 127 shares during the period. NEXT Financial Group Inc raised its position in South Jersey Industries by 214.9% in the third quarter. NEXT Financial Group Inc now owns 4,330 shares of the company’s stock worth $128,000 after buying an additional 2,955 shares during the period. Integrated Investment Consultants LLC raised its position in South Jersey Industries by 21.8% in the third quarter. Integrated Investment Consultants LLC now owns 5,260 shares of the company’s stock worth $150,000 after buying an additional 942 shares during the period. Tower Research Capital LLC TRC bought a new position in South Jersey Industries during the second quarter worth about $154,000. Finally, BlackRock Japan Co. Ltd bought a new position in South Jersey Industries during the second quarter worth about $159,000. Institutional investors and hedge funds own 70.04% of the company’s stock.
South Jersey Industries Company Profile