South Jersey Industries (SJI) Issues Quarterly Earnings Results

South Jersey Industries (NYSE:SJI) posted its quarterly earnings results on Wednesday. The utilities provider reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02), MarketWatch Earnings reports. South Jersey Industries had a negative net margin of 1.22% and a positive return on equity of 11.36%. The company had revenue of $302.50 million for the quarter, compared to analysts’ expectations of $242.21 million. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The company’s revenue was up 33.1% on a year-over-year basis. South Jersey Industries updated its FY18 guidance to $1.57-1.65 EPS.

NYSE:SJI traded down $0.13 during trading hours on Friday, reaching $32.23. The company’s stock had a trading volume of 498,890 shares, compared to its average volume of 709,675. The stock has a market capitalization of $2.68 billion, a PE ratio of 26.20, a P/E/G ratio of 1.68 and a beta of 0.70. South Jersey Industries has a one year low of $25.96 and a one year high of $36.72. The company has a current ratio of 1.15, a quick ratio of 1.12 and a debt-to-equity ratio of 1.08.

SJI has been the topic of several research analyst reports. Zacks Investment Research cut shares of South Jersey Industries from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Morgan Stanley boosted their price target on shares of South Jersey Industries from $32.00 to $33.00 and gave the company a “hold” rating in a report on Tuesday, September 11th. ValuEngine upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. upgraded shares of South Jersey Industries from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $34.00 to $38.00 in a report on Tuesday, September 11th. Finally, TheStreet cut shares of South Jersey Industries from a “b+” rating to a “c+” rating in a report on Thursday, August 9th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $34.75.

In other South Jersey Industries news, Director Sunita Holzer acquired 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was purchased at an average cost of $32.88 per share, for a total transaction of $49,320.00. Following the completion of the acquisition, the director now owns 25,866 shares of the company’s stock, valued at approximately $850,474.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.64% of the company’s stock.

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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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Earnings History for South Jersey Industries (NYSE:SJI)

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