SevenBridge Financial Group LLC lifted its stake in shares of South Jersey Industries Inc (NYSE:SJI) by 58.7% during the third quarter, HoldingsChannel.com reports. The firm owned 8,115 shares of the utilities provider’s stock after purchasing an additional 3,000 shares during the quarter. SevenBridge Financial Group LLC’s holdings in South Jersey Industries were worth $286,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Riverhead Capital Management LLC boosted its stake in shares of South Jersey Industries by 31.0% during the 3rd quarter. Riverhead Capital Management LLC now owns 12,689 shares of the utilities provider’s stock worth $448,000 after acquiring an additional 3,000 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of South Jersey Industries by 13.4% during the 3rd quarter. Citadel Advisors LLC now owns 254,765 shares of the utilities provider’s stock worth $8,986,000 after purchasing an additional 30,011 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of South Jersey Industries by 104.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 74,357 shares of the utilities provider’s stock worth $2,623,000 after purchasing an additional 37,993 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of South Jersey Industries during the 3rd quarter worth about $17,716,000. Finally, Ancora Advisors LLC lifted its position in shares of South Jersey Industries by 7.7% during the 3rd quarter. Ancora Advisors LLC now owns 289,581 shares of the utilities provider’s stock worth $10,214,000 after purchasing an additional 20,701 shares during the last quarter. 83.33% of the stock is currently owned by institutional investors.
Shares of NYSE SJI traded down $0.62 during trading hours on Thursday, hitting $30.38. 1,933 shares of the company’s stock were exchanged, compared to its average volume of 527,375. South Jersey Industries Inc has a 1-year low of $25.96 and a 1-year high of $36.72. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.26 and a current ratio of 0.30. The stock has a market capitalization of $2.65 billion, a PE ratio of 25.21, a P/E/G ratio of 1.69 and a beta of 0.74.
South Jersey Industries (NYSE:SJI) last posted its quarterly earnings results on Wednesday, November 7th. The utilities provider reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The firm had revenue of $302.50 million during the quarter, compared to analyst estimates of $242.21 million. South Jersey Industries had a negative net margin of 1.73% and a positive return on equity of 9.79%. The company’s revenue was up 33.1% on a year-over-year basis. During the same period last year, the company earned ($0.05) EPS. As a group, equities research analysts forecast that South Jersey Industries Inc will post 1.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Monday, December 10th will be issued a $0.2875 dividend. This is a boost from South Jersey Industries’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, December 7th. This represents a $1.15 annualized dividend and a yield of 3.79%. South Jersey Industries’s dividend payout ratio is 91.06%.
Several research firms recently weighed in on SJI. Morgan Stanley cut their price objective on South Jersey Industries from $36.00 to $33.00 and set a “hold” rating for the company in a research report on Tuesday, October 23rd. JPMorgan Chase & Co. boosted their price objective on South Jersey Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. ValuEngine raised South Jersey Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Zacks Investment Research raised South Jersey Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Finally, TheStreet cut South Jersey Industries from a “b+” rating to a “c+” rating in a research report on Thursday, August 9th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. South Jersey Industries currently has an average rating of “Hold” and a consensus target price of $34.75.
In other news, CEO Michael J. Renna purchased 3,220 shares of the business’s stock in a transaction on Thursday, November 15th. The stock was purchased at an average price of $30.82 per share, with a total value of $99,240.40. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.64% of the company’s stock.
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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.
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