Price Action Report: South Jersey Industries Inc Hit Record High

Price Action Report: South Jersey Industries Inc Hit Record High

The stock of South Jersey Industries Inc (NYSE:SJI) reached all time high today, Nov, 29 and still has $36.85 target or 9.00% above today’s $33.81 share price. This indicates more upside for the $2.75 billion company. This technical setup was reported by Barchart.com. If the $36.85 PT is reached, the company will be worth $247.50M 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 614,664 shares traded hands or 90.76% up from the average. South Jersey Industries Inc (NYSE:SJI) has risen 19.74% since April 26, 2016 and is uptrending. It has outperformed by 14.48% the S&P500.

Analysts await South Jersey Industries Inc (NYSE:SJI) to report earnings on March, 6. They expect $0.46 EPS, down 25.81% or $0.16 from last year’s $0.62 per share. SJI’s profit will be $37.41 million for 18.38 P/E if the $0.46 EPS becomes a reality. After $0.05 actual EPS reported by South Jersey Industries Inc for the previous quarter, Wall Street now forecasts 820.00% EPS growth.

South Jersey Industries Inc (NYSE:SJI) Ratings Coverage

Out of 6 analysts covering South Jersey Industries (NYSE:SJI), 1 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 17% are positive. South Jersey Industries has been the topic of 10 analyst reports since August 10, 2015 according to StockzIntelligence Inc. Guggenheim initiated the shares of SJI in a report on Monday, May 16 with “Buy” rating. The rating was upgraded by Hilliard Lyons on Monday, August 10 to “Underperform”. JP Morgan initiated the stock with “Neutral” rating in Tuesday, June 14 report. The firm has “Equal-Weight” rating given on Thursday, September 8 by Morgan Stanley. The rating was upgraded by Hilliard Lyons on Wednesday, December 9 to “Neutral”. The firm earned “Neutral” rating on Tuesday, June 28 by Janney Capital. The firm earned “Hold” rating on Wednesday, November 23 by Williams Capital Group. The firm earned “Underperform” rating on Friday, November 6 by Hilliard Lyons.

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 Q2 2016. Its down 0.99, from 2.05 in 2016Q1. The ratio turned negative, 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.
Wells Fargo And Comm Mn reported 1.44M shares or 0.02% of all its holdings. Blackrock Group Limited has 0% invested in the company for 184,826 shares. Moreover, Fifth Third Retail Bank has 0% invested in South Jersey Industries Inc (NYSE:SJI) for 2,796 shares. Vanguard has invested 0.01% of its portfolio in South Jersey Industries Inc (NYSE:SJI). Goldman Sachs Gp holds 0.01% of its portfolio in South Jersey Industries Inc (NYSE:SJI) for 1.11 million shares. Icon Advisers has invested 0.1% of its portfolio in South Jersey Industries Inc (NYSE:SJI). Franklin Res Inc accumulated 8,254 shares or 0% of the stock. Morgan Stanley accumulated 0% or 154,929 shares. Blb&B Advsrs Limited Liability Corporation holds 0.15% of its portfolio in South Jersey Industries Inc (NYSE:SJI) for 25,570 shares. Parkside Bancorp & has 262 shares for 0% of their US portfolio. Texas Permanent School Fund holds 0.03% of its portfolio in South Jersey Industries Inc (NYSE:SJI) for 60,769 shares. New Amsterdam Lc New York reported 154,366 shares or 1.19% of all its holdings. Bancshares Of America De accumulated 0% or 165,582 shares. Wesbanco Bancorp has 8,253 shares for 0.02% of their US portfolio. Fincl Bank Of Montreal Can has 0% invested in the company for 49,292 shares.

More important recent South Jersey Industries Inc (NYSE:SJI) news were published by: Marketwatch.com which released: “South Jersey Industries downgraded to hold from buy at Williams Capital” on October 25, 2010, also Forbes.com published article titled: “Ex-Dividend Reminder: Best Buy, South Jersey Industries and Fidelity National …”, Fool.com published: “Why Shake Shack, Globalstar, and South Jersey Industries Jumped Today” on May 13, 2016. More interesting news about South Jersey Industries Inc (NYSE:SJI) was released by: Fool.com and their article: “South Jersey Industries Suffers a Loss, but Keeps Confident” with publication date: November 08, 2015.

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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