South Jersey Industries Inc (SJI) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of South Jersey Industries Inc (NYSE:SJI) by 18.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 235,431 shares of the utilities provider’s stock after purchasing an additional 36,988 shares during the period. Russell Investments Group Ltd. owned about 0.28% of South Jersey Industries worth $6,629,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Swiss National Bank lifted its position in shares of South Jersey Industries by 2.0% during the fourth quarter. Swiss National Bank now owns 135,509 shares of the utilities provider’s stock worth $4,232,000 after purchasing an additional 2,600 shares during the last quarter. Macquarie Group Ltd. lifted its position in shares of South Jersey Industries by 30.9% during the fourth quarter. Macquarie Group Ltd. now owns 1,419,647 shares of the utilities provider’s stock worth $44,336,000 after purchasing an additional 335,372 shares during the last quarter. Arizona State Retirement System lifted its position in shares of South Jersey Industries by 224.1% during the fourth quarter. Arizona State Retirement System now owns 133,579 shares of the utilities provider’s stock worth $4,172,000 after purchasing an additional 92,361 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of South Jersey Industries by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 652,066 shares of the utilities provider’s stock worth $20,364,000 after purchasing an additional 2,598 shares during the last quarter. Finally, Keeley Teton Advisors LLC lifted its position in shares of South Jersey Industries by 21.0% during the fourth quarter. Keeley Teton Advisors LLC now owns 58,352 shares of the utilities provider’s stock worth $1,822,000 after purchasing an additional 10,132 shares during the last quarter. 69.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE SJI opened at $33.13 on Monday. The company has a current ratio of 0.45, a quick ratio of 0.41 and a debt-to-equity ratio of 0.76. South Jersey Industries Inc has a 52-week low of $25.96 and a 52-week high of $36.41. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 1.62 and a beta of 0.59.

South Jersey Industries (NYSE:SJI) last issued its earnings results on Monday, May 7th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.33. South Jersey Industries had a net margin of 5.23% and a return on equity of 11.33%. The firm had revenue of $521.95 million for the quarter, compared to analysts’ expectations of $430.43 million. During the same quarter last year, the company posted $0.72 earnings per share. South Jersey Industries’s revenue was up 22.6% on a year-over-year basis. analysts anticipate that South Jersey Industries Inc will post 1.65 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Monday, June 11th will be issued a $0.28 dividend. The ex-dividend date is Friday, June 8th. This represents a $1.12 dividend on an annualized basis and a yield of 3.38%. South Jersey Industries’s dividend payout ratio is currently 91.06%.

Several equities analysts have recently commented on SJI shares. JPMorgan Chase & Co. increased their price target on shares of South Jersey Industries from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 10th. Zacks Investment Research cut shares of South Jersey Industries from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 12th. ValuEngine cut shares of South Jersey Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, June 6th. Williams Capital increased their price target on shares of South Jersey Industries from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Finally, TheStreet raised shares of South Jersey Industries from a “c+” rating to a “b” rating in a research report on Monday, May 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $33.33.

About South Jersey Industries

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.

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

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