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South Jersey Industries Inc. (NYSE:SJI) Forecast To Rise 0.83% To Reach Consensus Target Price

South Jersey Industries Inc. (NYSE:SJI) has a beta value of 0.62 and has seen 4.6 million shares traded in the recent trading session. The company, currently valued at $4.38B, closed the recent trade at $35.99 per share which meant it gained $0.07 on the day or 0.19% during that session. The SJI stock price is -0.11% off its 52-week high price of $36.03 and 35.7% above the 52-week low of $23.14. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.64 million shares traded. The 3-month trading volume is 1.55 million shares.

The consensus among analysts is that South Jersey Industries Inc. (SJI) is a Hold stock at the moment, with a recommendation rating of 3.20. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 7 out of 8 have rated it as a Hold, with 0 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.18.

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South Jersey Industries Inc. (NYSE:SJI) trade information

Sporting 0.19% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the SJI stock price touched $35.99 or saw a rise of 0.11%. Year-to-date, South Jersey Industries Inc. shares have moved 1.10%, while the 5-day performance has seen it change 0.42%. Over the past 30 days, the shares of South Jersey Industries Inc. (NYSE:SJI) have changed 1.93%. Short interest in the company has seen 5.86 million shares shorted with days to cover at 6.69.

Wall Street analysts have a consensus price target for the stock at $36.29, which means that the shares’ value could jump 0.83% from the levels at last check today. The projected low price target is $36.00 while the price target rests at a high of $38.00. In that case, then, we find that the latest price level in today’s session is -5.58% off the targeted high while a plunge would see the stock gain -0.03% from the levels at last check today.

South Jersey Industries Inc. (SJI) estimates and forecasts

Figures show that South Jersey Industries Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained 5.80% over the past 6 months, with this year growth rate of 7.41%, compared to 2.80% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -5.90% and 6.90% for the next quarter. Revenue growth from the last financial year stood is estimated to be 12.90%.

2 analysts offering their estimates for the company have set an average revenue estimate of $396.1 million for the current quarter. 2 have an estimated revenue figure of $664.05 million for the next quarter concluding in Dec 2022.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -12.50% over the past 5 years. Earnings growth for 2023 is a modest -50.70% while over the next 5 years, the company’s earnings are expected to increase by 9.00%.

SJI Dividends

South Jersey Industries Inc. is expected to release its next earnings report between February 22 and February 27 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.24 at a share yield of 3.45%. The company’s dividend yield has gone up over the past 12 months.

South Jersey Industries Inc. (NYSE:SJI)’s Major holders

Insiders own 0.53% of the company shares, while shares held by institutions stand at 88.27% with a share float percentage of 88.74%. Investors are also buoyed by the number of investors in a company, with South Jersey Industries Inc. having a total of 399 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 20.34 million shares worth more than $694.5 million. As of Jun 29, 2022, Blackrock Inc. held 16.62% of shares outstanding.

The other major institutional holder is State Street Corporation, with the holding of over 16.5 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $563.25 million and represent 13.48% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and SPDR (R) Ser Tr- SPDR (R) S&P (R) Dividend ETF. As of Sep 29, 2022, the former fund manager holds about 7.30% shares in the company for having 8.93 million shares of worth $298.48 million while later fund manager owns 8.34 million shares of worth $278.7 million as of Sep 29, 2022, which makes it owner of about 6.81% of company’s outstanding stock.

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