South Jersey Industries Inc. (SJI) Position Held by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. continued to hold its stake in shares of South Jersey Industries Inc. (NYSE:SJI) during the second quarter, Holdings Channel reports. The fund owned 7,275 shares of the company’s stock at the end of the second quarter. Oppenheimer & Co. Inc.’s holdings in South Jersey Industries were worth $230,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Duff & Phelps Investment Management Co. bought a new stake in shares of South Jersey Industries during the second quarter valued at about $49,327,000. Emerald Acquisition Ltd. bought a new stake in shares of South Jersey Industries during the second quarter valued at about $30,379,000. Deprince Race & Zollo Inc. bought a new stake in shares of South Jersey Industries during the second quarter valued at about $20,293,000. Norges Bank bought a new stake in shares of South Jersey Industries during the fourth quarter valued at about $11,830,000. Finally, New Amsterdam Partners LLC NY bought a new stake in shares of South Jersey Industries during the second quarter valued at about $4,881,000. Hedge funds and other institutional investors own 69.68% of the company’s stock.
Shares of South Jersey Industries Inc. (NYSE:SJI) traded down 0.65% during trading on Friday, hitting $30.73. The stock had a trading volume of 182,313 shares. The stock’s 50-day moving average price is $30.10 and its 200-day moving average price is $29.34. South Jersey Industries Inc. has a one year low of $21.24 and a one year high of $32.03. The company has a market cap of $2.44 billion, a P/E ratio of 21.69 and a beta of 0.67.
South Jersey Industries (NYSE:SJI) last released its earnings results on Friday, August 5th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. South Jersey Industries had a return on equity of 9.56% and a net margin of 11.45%. The business had revenue of $154.40 million for the quarter, compared to analysts’ expectations of $177.83 million. During the same quarter last year, the company posted $0.03 earnings per share. On average, equities research analysts forecast that South Jersey Industries Inc. will post $1.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Friday, September 9th will be given a dividend of $0.2638 per share. The ex-dividend date is Wednesday, September 7th. This represents a $1.06 annualized dividend and a yield of 3.41%. South Jersey Industries’s dividend payout ratio (DPR) is presently 72.92%.
SJI has been the topic of several research analyst reports. Janney Montgomery Scott lowered shares of South Jersey Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Zacks Investment Research upgraded shares of South Jersey Industries from a “strong sell” rating to a “hold” rating in a report on Thursday, July 7th. JPMorgan Chase & Co. began coverage on shares of South Jersey Industries in a report on Tuesday, June 14th. They issued a “neutral” rating and a $31.00 price objective on the stock. Finally, Morgan Stanley began coverage on South Jersey Industries in a research report on Thursday, September 8th. They issued an “equal weight” rating and a $32.00 target price for the company. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. South Jersey Industries presently has an average rating of “Buy” and a consensus target price of $32.50.
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.
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