CIBC Asset Management Inc bought a new stake in shares of South Jersey Industries Inc (NYSE:SJI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 7,051 shares of the utilities provider’s stock, valued at approximately $236,000.
A number of other institutional investors also recently made changes to their positions in SJI. Wells Fargo & Company MN lifted its position in South Jersey Industries by 6.7% during the first quarter. Wells Fargo & Company MN now owns 1,998,641 shares of the utilities provider’s stock valued at $56,281,000 after purchasing an additional 124,624 shares during the last quarter. Rhumbline Advisers lifted its position in South Jersey Industries by 1.2% during the first quarter. Rhumbline Advisers now owns 199,206 shares of the utilities provider’s stock valued at $5,610,000 after purchasing an additional 2,432 shares during the last quarter. Comerica Bank lifted its position in South Jersey Industries by 2.1% during the first quarter. Comerica Bank now owns 100,874 shares of the utilities provider’s stock valued at $3,008,000 after purchasing an additional 2,062 shares during the last quarter. SG Americas Securities LLC lifted its position in South Jersey Industries by 21.8% during the first quarter. SG Americas Securities LLC now owns 29,955 shares of the utilities provider’s stock valued at $844,000 after purchasing an additional 5,359 shares during the last quarter. Finally, Zeke Capital Advisors LLC lifted its holdings in shares of South Jersey Industries by 24.8% in the 1st quarter. Zeke Capital Advisors LLC now owns 8,318 shares of the utilities provider’s stock worth $234,000 after acquiring an additional 1,655 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.
Shares of SJI opened at $33.62 on Thursday. The company has a market capitalization of $2.84 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 1.69 and a beta of 0.51. 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 announced its quarterly earnings data on Wednesday, August 8th. The utilities provider reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.03. The firm 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 business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 EPS. equities research analysts expect that South Jersey Industries Inc will post 1.6 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Monday, September 10th will be issued a $0.28 dividend. The ex-dividend date is Friday, September 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.33%. South Jersey Industries’s payout ratio is 91.06%.
In other news, Director Sunita Holzer bought 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The shares were bought at an average cost of $32.88 per share, with a total value of $49,320.00. Following the completion of the purchase, the director now directly owns 25,866 shares in the company, valued at $850,474.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.64% of the stock is owned by insiders.
A number of brokerages have recently weighed in on SJI. Zacks Investment Research lowered shares of South Jersey Industries from a “strong-buy” rating to a “hold” rating in a report on Saturday, July 21st. Morgan Stanley boosted 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. Bank of America began coverage on shares of South Jersey Industries in a report on Monday, July 30th. They issued a “neutral” rating and a $34.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of South Jersey Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Finally, TheStreet lowered shares of South Jersey Industries from a “b+” rating to a “c+” rating in a report on Thursday, August 9th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $34.71.
South Jersey Industries Company Profile
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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