The stock of South Jersey Industries Inc (NYSE:SJI) hit a new 52-week high and has $45.52 target or 39.00% above today’s $32.75 share price. The 5 months bullish chart indicates low risk for the $2.63 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $45.52 price target is reached, the company will be worth $1.03B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 109,882 shares traded hands. South Jersey Industries Inc (NYSE:SJI) has risen 13.61% since April 19, 2016 and is uptrending. It has outperformed by 9.75% the S&P500.
South Jersey Industries Inc (NYSE:SJI) Ratings Coverage
Out of 5 analysts covering South Jersey Industries (NYSE:SJI), 1 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 20% are positive. South Jersey Industries has been the topic of 9 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock of South Jersey Industries Inc (NYSE:SJI) earned “Equal-Weight” rating by Morgan Stanley on Thursday, September 8. The rating was upgraded by Hilliard Lyons to “Underperform” on Monday, August 10. Janney Capital downgraded South Jersey Industries Inc (NYSE:SJI) on Tuesday, June 28 to “Neutral” rating. Guggenheim initiated South Jersey Industries Inc (NYSE:SJI) on Monday, May 16 with “Buy” rating. The firm has “Underperform” rating given on Friday, November 6 by Hilliard Lyons. The company was initiated on Tuesday, June 14 by JP Morgan. The stock has “Neutral” rating given by Hilliard Lyons on Wednesday, December 9.
According to Zacks Investment Research, “South Jersey Inds Inc. is engaged in the business of operating, through subsidiaries, various business enterprises. The company’s most significant subsidiary is South Jersey Gas Company (SJG). SJG is a public utility company engaged in the purchase, transmission and sale of natural gas for residential, commercial and industrial use. SJG also makes off-system sales of natural gas on a wholesale basis to various customers on the interstate pipeline system and transports natural gas.”
Insitutional Activity: The institutional sentiment decreased to 1.06 in 2016 Q2. Its down 0.99, from 2.05 in 2016Q1. The ratio dropped, as 20 funds sold all South Jersey Industries Inc shares owned while 37 reduced positions. 30 funds bought stakes while 87 increased positions. They now own 53.65 million shares or 12.60% more from 47.65 million shares in 2016Q1.
Opus Invest Management Incorporated has 0.39% invested in the company for 70,000 shares. Nationwide Fund Advisors last reported 0.01% of its portfolio in the stock. The New Jersey-based Reaves W H Inc has invested 0.51% in South Jersey Industries Inc (NYSE:SJI). First In holds 3,320 shares or 0.06% of its portfolio. Roffman Miller Associate Pa holds 2.37% or 456,016 shares in its portfolio. Parkside National Bank & accumulated 0% or 262 shares. Gam Ag accumulated 0.01% or 26,489 shares. Thompson Davis And Communication, a Virginia-based fund reported 779 shares. Blackrock, a New York-based fund reported 61,723 shares. Fort Washington Invest Advsrs Oh has invested 0.01% of its portfolio in South Jersey Industries Inc (NYSE:SJI). First Natl Bank Sioux Falls has invested 0.05% of its portfolio in South Jersey Industries Inc (NYSE:SJI). Dimensional Fund Advsr Lp holds 0.03% or 1.43M shares in its portfolio. Invesco Ltd accumulated 1.13 million shares or 0.01% of the stock. Moors Cabot accumulated 0.07% or 12,698 shares. Eulav Asset Mgmt accumulated 203,400 shares or 0.35% of the stock.
More important recent South Jersey Industries Inc (NYSE:SJI) news were published by: Streetinsider.com which released: “Form 8-K SOUTH JERSEY INDUSTRIES For: Nov 21” on November 21, 2016, also Forbes.com published article titled: “Ex-Dividend Reminder: Best Buy, South Jersey Industries and Fidelity National …”, Reuters.com published: “BRIEF-REG-South Jersey Industries raises dividend 3.3 percent” on November 21, 2016. More interesting news about South Jersey Industries Inc (NYSE:SJI) was released by: Fool.com and their article: “Why Shake Shack, Globalstar, and South Jersey Industries Jumped Today” with publication date: May 13, 2016.
SJI Company Profile
South Jersey Industries, Inc. (SJI), incorporated in 1969, is an energy services holding company. The Firm provides a range of energy-related services and products, primarily through its subsidiaries. The Company’s subsidiaries include South Jersey Gas Company (SJG), South Jersey Energy Company (SJE), South Jersey Resources Group, LLC (SJRG), South Jersey Exploration, LLC (SJEX), Marina Energy, LLC (Marina), South Jersey Energy Service Plus, LLC (SJESP) and SJI Midstream, LLC.
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