Public Employees Retirement Association of Colorado decreased its position in South Jersey Industries Inc (NYSE:SJI) by 20.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,850 shares of the utilities provider’s stock after selling 3,640 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in South Jersey Industries were worth $390,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Vident Investment Advisory LLC acquired a new stake in South Jersey Industries in the fourth quarter valued at approximately $207,000. Zeke Capital Advisors LLC acquired a new stake in South Jersey Industries in the fourth quarter valued at approximately $208,000. CIBC Asset Management Inc acquired a new stake in South Jersey Industries in the fourth quarter valued at approximately $214,000. Cetera Investment Advisers acquired a new stake in South Jersey Industries in the fourth quarter valued at approximately $240,000. Finally, Stone Ridge Asset Management LLC acquired a new stake in South Jersey Industries in the fourth quarter valued at approximately $243,000. 66.34% of the stock is currently owned by hedge funds and other institutional investors.
SJI has been the topic of several analyst reports. Hilliard Lyons cut shares of South Jersey Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. JPMorgan Chase reduced their target price on shares of South Jersey Industries from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Morgan Stanley dropped their price target on shares of South Jersey Industries from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 13th. Zacks Investment Research upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Saturday, March 10th. Finally, Williams Capital increased their price target on shares of South Jersey Industries from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, April 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $33.33.
Shares of South Jersey Industries stock opened at $32.11 on Monday. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 1.63 and a beta of 0.56. South Jersey Industries Inc has a 52 week low of $25.96 and a 52 week high of $37.55. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.41 and a current ratio of 0.45.
South Jersey Industries (NYSE:SJI) last announced its quarterly earnings results on Monday, May 7th. The utilities provider reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.33. The company had revenue of $521.95 million for the quarter, compared to analyst estimates of $430.43 million. South Jersey Industries had a net margin of 5.23% and a return on equity of 11.33%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. analysts anticipate that South Jersey Industries Inc will post 1.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Monday, June 11th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, June 8th. This represents a $1.12 annualized dividend and a yield of 3.49%. South Jersey Industries’s dividend payout ratio is currently 91.06%.
South Jersey Industries Company 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.
Want to see what other hedge funds are holding SJI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for South Jersey Industries Inc (NYSE:SJI).
Receive News & Ratings for South Jersey Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South Jersey Industries and related companies with MarketBeat.com's FREE daily email newsletter.