Louisiana State Employees Retirement System increased its position in South Jersey Industries Inc. (NYSE:SJI) by 15.0% during the second quarter, Holdings Channel reports. The fund owned 35,200 shares of the company’s stock after buying an additional 4,600 shares during the period. Louisiana State Employees Retirement System’s holdings in South Jersey Industries were worth $1,113,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in South Jersey Industries by 2.0% in the first quarter. BlackRock Fund Advisors now owns 4,472,960 shares of the company’s stock worth $127,256,000 after buying an additional 89,776 shares during the last quarter. State Street Corp increased its position in South Jersey Industries by 0.7% in the first quarter. State Street Corp now owns 1,448,741 shares of the company’s stock worth $41,215,000 after buying an additional 9,618 shares during the last quarter. Teachers Advisors Inc. increased its position in South Jersey Industries by 21.4% in the first quarter. Teachers Advisors Inc. now owns 652,370 shares of the company’s stock worth $18,560,000 after buying an additional 114,934 shares during the last quarter. Wellington Management Group LLP increased its position in South Jersey Industries by 20.6% in the first quarter. Wellington Management Group LLP now owns 644,689 shares of the company’s stock worth $18,342,000 after buying an additional 110,018 shares during the last quarter. Finally, Norges Bank bought a new position in South Jersey Industries during the fourth quarter worth about $11,830,000. 69.68% of the stock is owned by institutional investors.
South Jersey Industries Inc. (NYSE:SJI) traded down 0.71% during midday trading on Friday, hitting $29.55. 363,756 shares of the stock were exchanged. South Jersey Industries Inc. has a 12 month low of $21.24 and a 12 month high of $32.03. The company has a market cap of $2.34 billion, a PE ratio of 20.85 and a beta of 0.67. The firm’s 50 day moving average price is $29.92 and its 200 day moving average price is $29.49.
South Jersey Industries (NYSE:SJI) last released its quarterly earnings results on Friday, August 5th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.02. South Jersey Industries had a return on equity of 9.56% and a net margin of 11.45%. The firm had revenue of $154.40 million for the quarter, compared to analysts’ expectations of $177.83 million. During the same period in the prior year, the firm posted $0.03 earnings per share. On average, equities research analysts forecast that South Jersey Industries Inc. will post $1.30 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Friday, September 9th will be paid a dividend of $0.2638 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.57%. South Jersey Industries’s dividend payout ratio is presently 72.92%.
A number of equities analysts recently issued reports on SJI shares. Zacks Investment Research raised shares of South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. JPMorgan Chase & Co. assumed coverage on shares of South Jersey Industries in a research note on Tuesday, June 14th. They issued a “neutral” rating and a $31.00 price target for the company. Janney Montgomery Scott cut shares of South Jersey Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Finally, Morgan Stanley assumed coverage on shares of South Jersey Industries in a report on Thursday, September 8th. They issued an “equal weight” rating and a $32.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $32.50.
South Jersey Industries Company Profile
South Jersey Industries, Inc (SJI) is an energy services holding company. The Company provides a range of energy-related products and services, primarily 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 (SJEX), Marina Energy, LLC (Marina), South Jersey Energy Service Plus, LLC (SJESP) and SJI Midstream, LLC.
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