State of Tennessee Treasury Department maintained its stake in South Jersey Industries, Inc. (NYSE:SJI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,009 shares of the utilities provider’s stock at the end of the second quarter. State of Tennessee Treasury Department owned 0.09% of South Jersey Industries worth $2,563,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SJI. Bank of Montreal Can increased its stake in South Jersey Industries by 180.8% in the 1st quarter. Bank of Montreal Can now owns 3,370 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 2,170 shares during the period. Strs Ohio increased its stake in South Jersey Industries by 9.7% in the 1st quarter. Strs Ohio now owns 7,900 shares of the utilities provider’s stock worth $281,000 after purchasing an additional 700 shares during the period. Great West Life Assurance Co. Can increased its stake in South Jersey Industries by 6.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 112,368 shares of the utilities provider’s stock worth $4,005,000 after purchasing an additional 6,837 shares during the period. Bank of New York Mellon Corp increased its stake in South Jersey Industries by 2.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,501,014 shares of the utilities provider’s stock worth $53,512,000 after purchasing an additional 33,025 shares during the period. Finally, Comerica Bank increased its stake in South Jersey Industries by 1.9% in the 1st quarter. Comerica Bank now owns 105,264 shares of the utilities provider’s stock worth $3,997,000 after purchasing an additional 1,929 shares during the period. 69.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of South Jersey Industries, Inc. (NYSE:SJI) opened at 36.34 on Friday. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 33.74 and a beta of 0.77. The stock has a 50 day moving average price of $35.21 and a 200-day moving average price of $35.38. South Jersey Industries, Inc. has a 12 month low of $27.51 and a 12 month high of $38.40.

South Jersey Industries (NYSE:SJI) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. South Jersey Industries had a return on equity of 7.71% and a net margin of 7.02%. The firm had revenue of $244.37 million for the quarter, compared to the consensus estimate of $179.63 million. During the same period in the prior year, the business posted $0.12 earnings per share. Analysts expect that South Jersey Industries, Inc. will post $1.19 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Monday, September 11th will be issued a $0.273 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $1.09 annualized dividend and a dividend yield of 3.00%. South Jersey Industries’s payout ratio is 101.87%.

A number of equities analysts have commented on SJI shares. BidaskClub cut South Jersey Industries from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Zacks Investment Research raised South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Williams Capital raised South Jersey Industries from a “hold” rating to a “buy” rating and lifted their price target for the stock from $34.00 to $36.00 in a research note on Monday, July 17th. Janney Montgomery Scott raised South Jersey Industries from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their price target on South Jersey Industries from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.50.

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South Jersey Industries Company Profile

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).

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

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