Price Action Alert: Could South Jersey Industries Inc Go Down After Touching All-Time High?

Price Action Alert: Could South Jersey Industries Inc Go Down After Touching All Time High?

The stock of South Jersey Industries Inc (NYSE:SJI) reached all time high today, Nov, 22 and still has $34.40 target or 4.00% above today’s $33.08 share price. This indicates more upside for the $2.71 billion company. This technical setup was reported by Barchart.com. If the $34.40 PT is reached, the company will be worth $108.40 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 151,486 shares traded hands. South Jersey Industries Inc (NYSE:SJI) has risen 19.69% since April 20, 2016 and is uptrending. It has outperformed by 15.13% 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. JP Morgan initiated South Jersey Industries Inc (NYSE:SJI) on Tuesday, June 14 with “Neutral” rating. On Wednesday, December 9 the stock rating was upgraded by Hilliard Lyons to “Neutral”. Hilliard Lyons upgraded the shares of SJI in a report on Monday, August 10 to “Underperform” rating. The company was downgraded on Tuesday, June 28 by Janney Capital. The firm earned “Underperform” rating on Friday, November 6 by Hilliard Lyons. The firm earned “Buy” rating on Monday, May 16 by Guggenheim. The stock of South Jersey Industries Inc (NYSE:SJI) has “Equal-Weight” rating given on Thursday, September 8 by Morgan Stanley.

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 fall, 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.
Blackrock holds 61,723 shares or 0% of its portfolio. Washington Trust Retail Bank holds 0% or 200 shares in its portfolio. Creative Planning accumulated 13,526 shares or 0% of the stock. Moreover, Moors & Cabot Inc has 0.07% invested in South Jersey Industries Inc (NYSE:SJI) for 12,698 shares. Proshare Advisors Lc last reported 74,064 shares in the company. Schwab Charles Invest Management Incorporated owns 347,259 shares or 0.01% of their US portfolio. Royal Savings Bank Of Canada accumulated 5,585 shares or 0% of the stock. Next Finance Grp Inc Inc holds 0.01% of its portfolio in South Jersey Industries Inc (NYSE:SJI) for 1,375 shares. Arizona State Retirement Sys last reported 41,218 shares in the company. Northern Trust Corporation holds 1.36 million shares or 0.01% of its portfolio. Glenmede Na accumulated 18,647 shares or 0% of the stock. Ct Mason has 42,152 shares for 0.56% of their US portfolio. Vanguard Grp Incorporated accumulated 0.01% or 6.62 million shares. Allianz Asset Mgmt Ag has invested 0% of its portfolio in South Jersey Industries Inc (NYSE:SJI). Blackrock Institutional Communication Na accumulated 0.01% or 2.01M shares.

More recent South Jersey Industries Inc (NYSE:SJI) news were published by: Forbes.com which released: “Ex-Dividend Reminder: Best Buy, South Jersey Industries and Fidelity National …” on March 11, 2016. Also Fool.com published the news titled: “Why Shake Shack, Globalstar, and South Jersey Industries Jumped Today” on May 13, 2016. Fool.com‘s news article titled: “South Jersey Industries Suffers a Loss, but Keeps Confident” with publication date: November 08, 2015 was also an interesting one.

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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