Strs Ohio increased its holdings in South Jersey Industries Inc (NYSE:SJI) by 1,570.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,300 shares of the utilities provider’s stock after purchasing an additional 113,100 shares during the period. Strs Ohio owned approximately 0.15% of South Jersey Industries worth $3,756,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of SJI. Victory Capital Management Inc. raised its position in shares of South Jersey Industries by 49.6% during the third quarter. Victory Capital Management Inc. now owns 1,059,927 shares of the utilities provider’s stock valued at $36,599,000 after buying an additional 351,628 shares during the last quarter. Macquarie Group Ltd. raised its position in South Jersey Industries by 41.5% in the second quarter. Macquarie Group Ltd. now owns 974,820 shares of the utilities provider’s stock worth $33,310,000 after purchasing an additional 286,007 shares in the last quarter. Wells Fargo & Company MN raised its position in South Jersey Industries by 9.4% in the third quarter. Wells Fargo & Company MN now owns 1,907,795 shares of the utilities provider’s stock worth $65,876,000 after purchasing an additional 164,517 shares in the last quarter. Northern Trust Corp grew its stake in South Jersey Industries by 8.7% during the second quarter. Northern Trust Corp now owns 1,665,298 shares of the utilities provider’s stock worth $56,904,000 after buying an additional 133,720 shares during the last quarter. Finally, Phocas Financial Corp. grew its stake in South Jersey Industries by 80.8% during the second quarter. Phocas Financial Corp. now owns 272,684 shares of the utilities provider’s stock worth $9,318,000 after buying an additional 121,858 shares during the last quarter. Hedge funds and other institutional investors own 69.52% of the company’s stock.
Several analysts have weighed in on the stock. Zacks Investment Research raised shares of South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Friday, November 17th. Morgan Stanley decreased their price target on shares of South Jersey Industries from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 13th. Guggenheim restated a “hold” rating and issued a $32.00 price objective on shares of South Jersey Industries in a report on Wednesday, January 3rd. Sidoti downgraded shares of South Jersey Industries from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a research report on Monday, January 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of South Jersey Industries from $35.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $34.00.
Shares of South Jersey Industries Inc (NYSE SJI) opened at $26.56 on Friday. The firm has a market cap of $2,110.00, a PE ratio of 55.33, a price-to-earnings-growth ratio of 1.85 and a beta of 0.57. The company has a quick ratio of 0.38, a current ratio of 0.47 and a debt-to-equity ratio of 0.97. South Jersey Industries Inc has a 12 month low of $26.19 and a 12 month high of $38.40.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Monday, March 19th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Friday, March 16th. South Jersey Industries’s payout ratio is presently 233.33%.
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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 (Midstream).
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