Mizuho Securities analyst Gabe Moreen reiterated a Hold rating on South Jersey Industries (SJI – Research Report) on May 23 and set a price target of $36.00. The company’s shares closed last Tuesday at $34.40, close to its 52-week high of $35.32.
According to TipRanks.com, Moreen is a 4-star analyst with an average return of 5.2% and a 67.9% success rate. Moreen covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Dcp Midstream Partners, and Plains All American.
The word on The Street in general, suggests a Hold analyst consensus rating for South Jersey Industries with a $36.00 average price target.
Based on South Jersey Industries’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $825 million and net profit of $129 million. In comparison, last year the company earned revenue of $674 million and had a net profit of $129 million.
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South Jersey Industries, Inc. is a holding company, which engages in the provision of energy-related products and services. It operates through the following segments: SJG Utility Operations; ETG Utility Operations; ELK Utility Operations, Wholesale Energy Operations; Retail Electric Operations; Appliance Service Operations; Midstream; and Corporate & Services. The SJG Utility Operations segment consists of natural gas distribution to residential, commercial and industrial customers in southern New Jersey. The ETG Utility Operations segment consists of natural gas distribution to residential, commercial and industrial customers in northern and central New Jersey. The ELK Utility Operations segment consists of natural gas distribution to residential, commercial and industrial customers in Maryland. The Wholesale Energy Operations segment includes the activities of South Jersey Resources Group and South Jersey Exploration. The Retail Electric Operations segment consists of electricity acquisition and transportation to commercial, industrial and residential customers. The Appliance Service Operations segment comprises of South Jersey Energy Service Plus, which serviced residential and small commercial HVAC systems, installed small commercial HVAC systems, provided plumbing services, and serviced appliances under warranty via a subcontractor arrangement as well as on a time and materials basis. The Midstream segment invests in infrastructure and other midstream projects, including a current project to build a natural gas pipeline in Pennsylvania and New Jersey. The Corporate & Services segment refers to the costs incurred related to the agreement to Elizabethtown Gas and Elkton Gas. The company was founded in 1969 and is headquartered in Folsom, NJ.
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