In a report released today, Stephen Byrd from Morgan Stanley maintained a Hold rating on South Jersey Industries (NYSE: SJI), with a price target of $36. The company’s shares opened today at $35.35, close to its 52-week high of $36.72.
According to TipRanks.com, Byrd is a 3-star analyst with an average return of 2.4% and a 60.4% success rate. Byrd covers the Utilities sector, focusing on stocks such as Pinnacle West Capital Corp, Public Service Enterprise, and American Electric Power.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for South Jersey Industries with a $37 average price target.
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Based on South Jersey Industries’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $93.82 million. In comparison, last year the company had a GAAP net loss of $37.59 million.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SJI in relation to earlier this year.
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South Jersey Industries, Inc. is a holding company, which engages in delivering energy solutions to its consumers through its primary subsidiaries. It operates through the following segments: Gas Utility Operations, Wholesale Energy Operations, South Jersey Energy (SJE), On-Site Energy Production, Appliance Service Operations, and Midstream.
