Blurbs

South Jersey Industries (SJI) Receives a Hold from J.P. Morgan

J.P. Morgan analyst Richard Sunderland maintained a Hold rating on South Jersey Industries (SJIResearch Report) on January 5 and set a price target of $26.00. The company’s shares closed last Friday at $26.04.

According to TipRanks.com, Sunderland is a 1-star analyst with an average return of -1.4% and a 37.5% success rate. Sunderland covers the Utilities sector, focusing on stocks such as New Jersey Resources, American Water, and Southwest Gas.

South Jersey Industries has an analyst consensus of Hold, with a price target consensus of $27.25, which is a 6.4% upside from current levels. In a report issued on January 6, Mizuho Securities also maintained a Hold rating on the stock with a $26.00 price target.

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The company has a one-year high of $29.24 and a one-year low of $20.48. Currently, South Jersey Industries has an average volume of 1.11M.

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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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