Texas Permanent School Fund increased its position in South Jersey Industries Inc (NYSE:SJI) by 12.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 62,681 shares of the utilities provider’s stock after purchasing an additional 6,727 shares during the quarter. Texas Permanent School Fund’s holdings in South Jersey Industries were worth $2,010,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Metropolitan Life Insurance Co. NY grew its stake in shares of South Jersey Industries by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 27,620 shares of the utilities provider’s stock valued at $768,000 after buying an additional 21,571 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of South Jersey Industries in the 4th quarter valued at about $687,000. Ramsey Quantitative Systems grew its stake in shares of South Jersey Industries by 9.9% in the 4th quarter. Ramsey Quantitative Systems now owns 10,618 shares of the utilities provider’s stock valued at $295,000 after buying an additional 959 shares during the period. First Trust Advisors LP grew its stake in shares of South Jersey Industries by 33.3% in the 4th quarter. First Trust Advisors LP now owns 950,529 shares of the utilities provider’s stock valued at $26,425,000 after buying an additional 237,685 shares during the period. Finally, CRA Financial Services LLC acquired a new stake in shares of South Jersey Industries in the 4th quarter valued at about $289,000. Institutional investors own 80.20% of the company’s stock.
SJI stock traded down $0.04 during mid-day trading on Monday, reaching $33.45. 10,871 shares of the company traded hands, compared to its average volume of 560,964. South Jersey Industries Inc has a fifty-two week low of $26.06 and a fifty-two week high of $36.72. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.41 and a current ratio of 0.43. The company has a market capitalization of $3.09 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 4.24 and a beta of 0.76.
South Jersey Industries (NYSE:SJI) last posted its earnings results on Wednesday, May 8th. The utilities provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.14. South Jersey Industries had a net margin of 3.40% and a return on equity of 8.66%. The firm had revenue of $637.30 million for the quarter, compared to analysts’ expectations of $571.00 million. As a group, sell-side analysts forecast that South Jersey Industries Inc will post 1.1 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 10th will be given a dividend of $0.2875 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.15 annualized dividend and a dividend yield of 3.44%. South Jersey Industries’s dividend payout ratio is currently 83.33%.
A number of research firms have issued reports on SJI. ValuEngine upgraded South Jersey Industries from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Zacks Investment Research upgraded South Jersey Industries from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Maxim Group began coverage on South Jersey Industries in a research note on Tuesday, April 16th. They set a “buy” rating and a $40.00 price target for the company. Finally, Morgan Stanley set a $31.00 price target on South Jersey Industries and gave the company a “hold” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. South Jersey Industries presently has an average rating of “Buy” and an average target price of $34.43.
South Jersey Industries 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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