Commonwealth Equity Services LLC decreased its holdings in shares of South Jersey Industries Inc (NYSE:SJI) by 12.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,804 shares of the utilities provider’s stock after selling 4,647 shares during the period. Commonwealth Equity Services LLC’s holdings in South Jersey Industries were worth $1,131,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. TD Asset Management Inc. raised its holdings in South Jersey Industries by 29.6% during the second quarter. TD Asset Management Inc. now owns 54,918 shares of the utilities provider’s stock worth $1,838,000 after buying an additional 12,544 shares during the last quarter. Aperio Group LLC raised its holdings in South Jersey Industries by 15.8% during the second quarter. Aperio Group LLC now owns 60,739 shares of the utilities provider’s stock worth $2,033,000 after buying an additional 8,285 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in South Jersey Industries during the second quarter worth $51,568,000. Piedmont Investment Advisors LLC raised its holdings in South Jersey Industries by 17.1% during the second quarter. Piedmont Investment Advisors LLC now owns 19,930 shares of the utilities provider’s stock worth $667,000 after buying an additional 2,917 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in South Jersey Industries during the second quarter worth $212,000. Hedge funds and other institutional investors own 77.89% of the company’s stock.
Several research analysts have weighed in on SJI shares. Zacks Investment Research downgraded shares of South Jersey Industries from a “strong-buy” rating to a “hold” rating in a report on Saturday, July 21st. TheStreet upgraded shares of South Jersey Industries from a “c+” rating to a “b” rating in a report on Monday, May 7th. Bank of America started coverage on shares of South Jersey Industries in a report on Monday, July 30th. They set a “neutral” rating and a $34.00 price objective on the stock. ValuEngine upgraded shares of South Jersey Industries from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Finally, Morgan Stanley upped their price objective on shares of South Jersey Industries from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. South Jersey Industries currently has a consensus rating of “Hold” and a consensus price target of $34.71.
SJI opened at $33.12 on Wednesday. The stock has a market cap of $2.84 billion, a P/E ratio of 26.93, a P/E/G ratio of 1.70 and a beta of 0.56. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.15 and a quick ratio of 1.12. South Jersey Industries Inc has a fifty-two week low of $25.96 and a fifty-two week high of $36.41.
South Jersey Industries (NYSE:SJI) last posted its quarterly earnings results on Wednesday, August 8th. The utilities provider reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The company had revenue of $227.33 million during the quarter, compared to analyst estimates of $254.54 million. South Jersey Industries had a negative net margin of 1.22% and a positive return on equity of 11.36%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. analysts predict that South Jersey Industries Inc will post 1.6 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Monday, September 10th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, September 7th. This represents a $1.12 annualized dividend and a yield of 3.38%. South Jersey Industries’s payout ratio is currently 91.06%.
About South Jersey Industries
South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company engages in the purchase, transmission, and sale of natural gas. It also sells natural gas and pipeline transportation capacity on a wholesale basis to residential, commercial, and industrial customers on the interstate pipeline system, as well as transports natural gas, which is purchased directly from producers or suppliers to their customers.
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