17,184 Shares in South Jersey Industries, Inc. (NYSE:SJI) Purchased by Piedmont Investment Advisors LLC

Piedmont Investment Advisors LLC bought a new stake in shares of South Jersey Industries, Inc. (NYSE:SJI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 17,184 shares of the utilities provider’s stock, valued at approximately $587,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. First Mercantile Trust Co. raised its position in South Jersey Industries by 2.0% during the 2nd quarter. First Mercantile Trust Co. now owns 3,060 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 60 shares in the last quarter. Amalgamated Bank increased its holdings in shares of South Jersey Industries by 0.8% in the 2nd quarter. Amalgamated Bank now owns 10,896 shares of the utilities provider’s stock valued at $372,000 after acquiring an additional 89 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of South Jersey Industries by 2.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 6,349 shares of the utilities provider’s stock valued at $217,000 after acquiring an additional 150 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of South Jersey Industries by 0.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 52,470 shares of the utilities provider’s stock valued at $1,793,000 after acquiring an additional 200 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of South Jersey Industries by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,025 shares of the utilities provider’s stock valued at $103,000 after acquiring an additional 262 shares during the period. 69.48% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on SJI. BidaskClub downgraded South Jersey Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Williams Capital upgraded South Jersey Industries from a “hold” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $36.00 in a research note on Monday, July 17th. Janney Montgomery Scott upgraded South Jersey Industries from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their target price on South Jersey Industries from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $38.00.

Shares of South Jersey Industries, Inc. (SJI) traded up 1.98% during trading on Friday, hitting $33.97. The stock had a trading volume of 266,173 shares. The stock’s 50-day moving average is $34.74 and its 200-day moving average is $35.30. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 31.54 and a beta of 0.75. South Jersey Industries, Inc. has a 12-month low of $28.04 and a 12-month high of $38.40.

South Jersey Industries (NYSE:SJI) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.06. South Jersey Industries had a return on equity of 7.71% and a net margin of 7.02%. The firm had revenue of $244.37 million for the quarter, compared to analyst estimates of $179.63 million. During the same quarter last year, the company posted $0.12 earnings per share. On average, equities research analysts expect that South Jersey Industries, Inc. will post $1.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th were issued a $0.273 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Friday, September 8th. South Jersey Industries’s dividend payout ratio is presently 101.87%.

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South Jersey Industries 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 (Midstream).

Institutional Ownership by Quarter for South Jersey Industries (NYSE:SJI)

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