Janney Capital Downgrades South Jersey Industries Inc to Neutral

Brokerage firm Janney Capital Downgrades its rating on South Jersey Industries Inc(NYSE:SJI). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by Janney Capital was issued on Jun 28, 2016.

In a different note, JP Morgan said it Initiates Coverage on South Jersey Industries Inc, according to a research note issued on Jun 14, 2016. The shares have been rated ‘Neutral’ by the firm. Guggenheim Securities said it Initiates Coverage on South Jersey Industries Inc, according to a research note issued on May 16, 2016. The shares have been rated ‘Buy’ by the firm.

South Jersey Industries Inc (SJI) made into the market gainers list on Fridays trading session with the shares advancing 0.38% or 0.12 points. Due to strong positive momentum, the stock ended at $31.74, which is also near the day’s high of $31.91. The stock began the session at $31.91 and the volume stood at 3,74,331 shares. The 52-week high of the shares is $31.91 and the 52 week low is $21.24. The company has a current market capitalization of $2,267 M and it has 7,14,25,506 shares in outstanding.

South Jersey Industries Inc(SJI) last announced its earnings results on May 6, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $333.04M. Analysts had an estimated revenue of $402.65M. Earnings per share were $0.80. Analysts had estimated an EPS of $0.80.

Several Insider Transactions has been reported to the SEC. On Apr 5, 2016, Gina Marie Merritt-epps (Senior VP, General Counsel) sold 2,000 shares at $28.35 per share price.Also, On Mar 30, 2016, Stephen H Clark (SVP, Chief Financial Officer) sold 2,000 shares at $27.80 per share price.On Aug 19, 2015, Victor Fortkiewicz (director) purchased 1,000 shares at $25.82 per share price, according to the Form-4 filing with the securities and exchange commission.

South Jersey Industries Inc. (SJI) is an energy services holding company. The Company provides energy-related products and services through its subsidiaries. Its subsidiaries include South Jersey Gas Company (SJG) South Jersey Energy Company (SJE) South Jersey Resources Group LLC (SJRG) South Jersey Exploration LLC Marina Energy LLC (Marina) South Jersey Energy Service Plus LLC and SJI Midstream LLC. It operates in several operating segments: Gas utility operations consist of natural gas distribution; Wholesale energy operations include the activities of SJRG and SJEX; SJE is involved in retail gas and retail electric activities; Retail gas and other operations include natural gas acquisition and transportation services; Retail electric operations consist of electricity acquisition and transportation; On-site energy production consists of Marina’s thermal energy facility and Appliance service operations include SJESP’s servicing of appliances.

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