BlackRock Fund Advisors recently announced the acquisition of new stake in South Jersey Industries Inc. (NYSE:SJI). The institutional investor has increased its shareholding in the Utilities company by 0.48% to 13.07 million shares with purchase of 61799.0 shares. This fresh investment now brings its stake to 14.14% valued currently at $304.9 million. In addition, SSgA Funds Management, Inc. raised its holdings by 1.68 million to 10.46 million shares. And Barclays Bank Plc (Private Bankin.. has lifted its position by 3,013.21% or 2.5 million shares – to 2.58 million shares.
With over 2.37 million South Jersey Industries Inc. (SJI) shares trading Tuesday and a closing price of $21.91 on the day, the dollar volume was approximately $51.99 million. The shares have shown a negative weekly performance of -3.44% and its price on 09/01/20 lost nearly -1.08%. Currently, there are 100.59M common shares owned by the public and among those 99.84M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for SJI have a consensus price objective of $28.78. The analysts have set the share’s price value over the next 12 months at a high of $36.00 and a low of $21.00 should the stock experience a downside. Incidentally, analysts’ outlook for the South Jersey Industries Inc. stock is 2.60 for the next 12 months. The average price target is 25.09% above its last price level and an upside to the estimated low will see the stock lose -4.33% over that period. But an upside of 39.14% will see the stock hit the forecast high price target while mean target price for the stock is $25.00.
Insiders at the company have transacted a total of 56 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 70,031 shares. Insider sales of the common stock occurred on 21 occasions, with total insider shares sold totaling 19,015 shares.
The top 3 mutual fund holders in South Jersey Industries Inc. are SPDR S&P Dividend ETF, iShares Core S&P Small Cap ETF, and Vanguard Total Stock Market Index. SPDR S&P Dividend ETF owns 7.42 million shares of the company’s stock, all valued at over $173.13 million. The company sold 2274.0 shares recently to bring their total holdings to about 8.03% of the shares outstanding. iShares Core S&P Small Cap ETF bought 36290.0 shares to see its total holdings expand to 5.77 million shares valued at over $134.64 million and representing 6.24% of the shares outstanding. Vanguard Total Stock Market Index sold 2901.0 shares to bring its total holdings to over 2.6 million shares at a value of $60.64 million. Vanguard Total Stock Market Index now owns shares totaling to 2.81% of the shares outstanding.
Shares of South Jersey Industries Inc. (NYSE: SJI) opened at $22.06, down -$0.09 from a prior closing price of $22.15. However, the script later closed the day at $21.91, down -1.08%. The company’s stock has a 5-day price change of -3.44% and -23.31% over the past three months. SJI shares are trading -33.57% year to date (YTD), with the 12-month market performance down to -32.50% lower. It has a 12-month low price of $19.62 and touched a high of $33.45 over the same period. Currently, 2.37 million shares have been traded, compared to an average intraday trading volume of 1.01 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.16%, -7.16%, and -20.36% respectively.
Institutional ownership of South Jersey Industries Inc. (NYSE: SJI) shares accounts for 86.60% of the company’s 100.59M shares outstanding. Mutual fund holders own 29.66%, while other institutional holders and individual stakeholders account for 63.57% and 1.89% respectively.
It has a market capitalization of $2.15B and a beta (3y monthly) value of 0.71. The stock’s trailing 12-month PE ratio is 19.67, while the earnings-per-share (ttm) stands at $1.11. The company has a PEG of 1.84 and a Quick Ratio of 0.40 with the debt-to-equity ratio at 1.88. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.50% over the week and 2.93% over the month.
Analysts forecast that South Jersey Industries Inc. (SJI) will achieve an EPS of -$0.22 for the current quarter, $0.64 for the next quarter and $1.7 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.29 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.3 a year ago. Earnings per share for the fiscal year are expected to increase by 294.80%, and 10.05% over the next financial year. EPS should grow at an annualized rate of 10.70% over the next five years, compared to -10.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate South Jersey Industries Inc. (SJI) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 2 of the 9 advise that investors “hold,” and 2 rated it as a “Sell.”
Looking at the support for the SJI, a number of firms have released research notes about the stock. Mizuho stated their Neutral rating for the stock in a research note on July 24, 2020, with the firm’s price target at. JP Morgan coverage for the South Jersey Industries Inc. (SJI) stock in a research note released on July 01, 2020 offered a Underweight rating with a price target of $25. Maxim Group was of a view on February 28, 2020 that the stock is Buy, while Morgan Stanley gave the stock Underweight rating on January 08, 2020, issuing a price target of $31- $29. JP Morgan on their part issued Neutral rating on August 05, 2019.