Brokerages expect South Jersey Industries, Inc. (NYSE:SJI) to post sales of $271.98 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for South Jersey Industries' earnings, with the lowest sales estimate coming in at $257.10 million and the highest estimate coming in at $280.00 million. South Jersey Industries posted sales of $259.96 million in the same quarter last year, which suggests a positive year over year growth rate of 4.6%. The firm is scheduled to announce its next earnings results on Wednesday, August 4th.
On average, analysts expect that South Jersey Industries will report full year sales of $1.64 billion for the current financial year, with estimates ranging from $1.35 billion to $1.77 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.70 billion, with estimates ranging from $1.27 billion to $1.88 billion. Zacks' sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for South Jersey Industries.
South Jersey Industries (NYSE:SJI) last posted its earnings results on Wednesday, May 5th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.07. South Jersey Industries had a return on equity of 11.03% and a net margin of 10.98%. The firm had revenue of $674.30 million for the quarter, compared to analyst estimates of $557.25 million.
A number of equities research analysts recently issued reports on the company. Maxim Group reaffirmed a "buy" rating and issued a $36.00 target price on shares of South Jersey Industries in a research note on Friday, February 26th. Morgan Stanley raised South Jersey Industries from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $23.00 to $26.00 in a research note on Friday, May 28th. Williams Capital reissued a "buy" rating on shares of South Jersey Industries in a research note on Friday, April 23rd. Zacks Investment Research raised South Jersey Industries from a "sell" rating to a "hold" rating in a research note on Thursday, June 3rd. Finally, Wells Fargo & Company raised South Jersey Industries from an "underweight" rating to an "equal weight" rating in a research note on Wednesday, March 17th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of "Hold" and an average price target of $28.00.
In related news, Director Sheila Hartnett-Devlin sold 2,444 shares of the stock in a transaction on Friday, May 21st. The stock was sold at an average price of $26.00, for a total value of $63,544.00. Following the transaction, the director now directly owns 23,779 shares of the company's stock, valued at approximately $618,254. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.53% of the company's stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in South Jersey Industries by 3.8% in the 1st quarter. BlackRock Inc. now owns 16,436,017 shares of the utilities provider's stock valued at $371,123,000 after purchasing an additional 604,340 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in South Jersey Industries by 11.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,196,572 shares of the utilities provider's stock valued at $72,179,000 after purchasing an additional 323,470 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in South Jersey Industries by 8.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,417,714 shares of the utilities provider's stock valued at $54,592,000 after purchasing an additional 183,955 shares in the last quarter. Zimmer Partners LP acquired a new stake in South Jersey Industries in the 1st quarter valued at $51,011,000. Finally, Westwood Holdings Group Inc. increased its holdings in South Jersey Industries by 20.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,088,236 shares of the utilities provider's stock valued at $47,153,000 after purchasing an additional 356,333 shares in the last quarter. 91.59% of the stock is currently owned by institutional investors and hedge funds.
SJI stock opened at $27.94 on Friday. South Jersey Industries has a 1 year low of $18.24 and a 1 year high of $29.24. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 1.76. The company has a 50 day moving average of $25.60. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 3.02 and a beta of 0.85.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 2nd. Investors of record on Thursday, June 10th will be given a $0.303 dividend. This is a positive change from South Jersey Industries's previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Wednesday, June 9th. South Jersey Industries's dividend payout ratio (DPR) is 72.02%.
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 purchased directly from producers or suppliers to customers.
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