Duff & Phelps Investment Management Co. purchased a new position in shares of South Jersey Industries Inc. (NYSE:SJI) during the second quarter, Holdings Channel reports. The firm purchased 1,560,000 shares of the company’s stock, valued at approximately $49,327,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. bought a new position in shares of South Jersey Industries during the first quarter worth approximately $235,000. Eqis Capital Management Inc. acquired a new position in shares of South Jersey Industries during the second quarter worth about $240,000. AMP Capital Investors Ltd acquired a new position in shares of South Jersey Industries during the first quarter worth about $264,000. Strs Ohio raised its position in shares of South Jersey Industries by 132.4% in the second quarter. Strs Ohio now owns 8,600 shares of the company’s stock worth $271,000 after buying an additional 4,900 shares during the last quarter. Finally, Banced Corp raised its position in shares of South Jersey Industries by 13.8% in the second quarter. Banced Corp now owns 20,170 shares of the company’s stock worth $509,000 after buying an additional 2,445 shares during the last quarter. Institutional investors and hedge funds own 69.65% of the company’s stock.
Shares of South Jersey Industries Inc. (NYSE:SJI) traded up 0.07% during mid-day trading on Wednesday, hitting $28.63. 186,811 shares of the stock were exchanged. South Jersey Industries Inc. has a 52 week low of $21.24 and a 52 week high of $32.03. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 20.20 and a beta of 0.70. The stock’s 50-day moving average is $29.16 and its 200-day moving average is $29.54.
South Jersey Industries (NYSE:SJI) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by $0.02. The company earned $154.40 million during the quarter, compared to the consensus estimate of $177.83 million. South Jersey Industries had a return on equity of 9.56% and a net margin of 11.45%. During the same period in the prior year, the firm posted $0.03 EPS. Analysts forecast that South Jersey Industries Inc. will post $1.30 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Friday, September 9th were given a $0.2638 dividend. This represents a $1.06 annualized dividend and a yield of 3.68%. The ex-dividend date was Wednesday, September 7th. South Jersey Industries’s dividend payout ratio is 72.92%.
A number of research analysts have issued reports on SJI shares. Zacks Investment Research upgraded shares of South Jersey Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Janney Montgomery Scott lowered shares of South Jersey Industries from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 28th. Finally, Morgan Stanley started coverage on shares of South Jersey Industries in a research report on Thursday, September 8th. They set an “equal weight” rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.50.
About South Jersey Industries
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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