South Jersey Industries Inc. (SJI) – Don’t Be So Quick to Call it Dead

319 institutions hold shares in South Jersey Industries Inc. (SJI), with 506.81k shares held by insiders accounting for 0.50% while institutional investors hold 95.32% of the company’s shares. The shares outstanding are 100.62M, and float is at 100.08M with Short Float at 9.13%. Institutions hold 94.84% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 15.83 million shares valued at $341.17 million. The investor’s holdings represent 15.73% of the SJI Shares outstanding. As of Dec 30, 2020, the second largest holder is State Street Corporation with 14.01 million shares valued at $301.85 million to account for 13.91% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 11.08 million shares representing 11.01% and valued at over $238.79 million, while Macquarie Group Limited holds 5.51% of the shares totaling 5.54 million with a market value of $119.47 million.

South Jersey Industries Inc. (NYSE: SJI) is 15.96% higher on its value in year-to-date trading and has touched a low of $18.24 and a high of $30.25 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SJI stock was last observed hovering at around $24.62 in the last trading session, with the day’s gains setting it 0.37% off its average median price target of $25.00 for the next 12 months. It is also 30.58% off the consensus price target high of $36.00 offered by 10 analysts, but current levels are -13.59% lower than the price target low of $22.00 for the same period.

Currently trading at $24.99, the stock is 5.87% and 1.88% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.65 million and changing 1.50% at the moment leaves the stock 10.50% off its SMA200. SJI registered -5.63% loss for a year compared to 6-month gain of 27.50%. The firm has a 50-day simple moving average (SMA 50) of $24.60 and a 200-day simple moving average (SMA200) of $22.80.

The stock witnessed a 9.65% loss in the last 1 month and extending the period to 3 months gives it a 17.88%, and is 3.22% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.24% over the week and 2.62% over the month.

South Jersey Industries Inc. (SJI) has around 1130 employees, a market worth around $2.51B and $1.54B in sales. Current P/E ratio is 15.16 and Fwd P/E is 14.65. Profit margin for the company is 10.20%. Distance from 52-week low is 37.01% and -17.39% from its 52-week high. The company has generated returns on investments over the last 12 months (5.00%).

South Jersey Industries Inc. (SJI) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for South Jersey Industries Inc. (SJI) is a “Hold”. 10 analysts offering their recommendations for the stock have an average rating of 2.50, where 4 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.

South Jersey Industries Inc. is expected to release its quarterly report on 08/11/2021 and quarterly earnings per share for the current quarter are estimated at $1.2 with sales reaching $530.79M over the same period.The EPS is expected to grow by 93.90% this year, but quarterly earnings will post -4.00% year-over-year. Quarterly sales are estimated to shrink -0.60% in year-over-year returns.

South Jersey Industries Inc. (SJI) Insider Activity

A total of 26 insider transactions have happened at South Jersey Industries Inc. (SJI) in the last six months, with sales accounting for 13 and purchases happening 13 times. The most recent transaction is an insider sale by Holzer Sunita, the company’s Director. SEC filings show that Holzer Sunita sold 79 shares of the company’s common stock on Aug 10 at a price of $22.98 per share for a total of $1815.0. Following the sale, the insider now owns 34425.0 shares.

South Jersey Industries Inc. disclosed in a document filed with the SEC on May 27 that Holzer Sunita (Director) sold a total of 11 shares of the company’s common stock. The trade occurred on May 27 and was made at $26.90 per share for $296.0. Following the transaction, the insider now directly holds 34504.0 shares of the SJI stock.

Still, SEC filings show that on May 18, HARTNETT-DEVLIN SHEILA (Director) disposed off 7,200 shares at an average price of $27.13 for $0.2 million. The insider now directly holds 17,205 shares of South Jersey Industries Inc. (SJI).

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South Jersey Industries Inc. (SJI): Who are the competitors?

The company’s main competitors (and peers) include National Fuel Gas Company (NFG) that is trading 25.74% up over the past 12 months. New Jersey Resources Corporation (NJR) is 32.29% up on the 1-year trading charts. Short interest in the company’s stock has fallen -33.04% from the last report on Mar 30, 2021 to stand at a total of 9.14 million short shares sold with a short interest ratio of 2.76.

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