South Jersey Industries, Inc. (SJI) Shares Sold by Prudential Financial Inc.
Prudential Financial Inc. decreased its position in South Jersey Industries, Inc. (NYSE:SJI) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,756 shares of the utilities provider’s stock after selling 2,760 shares during the period. Prudential Financial Inc. owned approximately 0.17% of South Jersey Industries worth $4,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. Fort Washington Investment Advisors Inc. OH raised its stake in South Jersey Industries by 12.3% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 11,569 shares of the utilities provider’s stock worth $412,000 after acquiring an additional 1,270 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in South Jersey Industries in the 2nd quarter worth $3,940,000. United Services Automobile Association purchased a new position in South Jersey Industries in the 1st quarter worth $858,000. BlackRock Inc. raised its stake in South Jersey Industries by 46,816.5% in the 1st quarter. BlackRock Inc. now owns 9,843,088 shares of the utilities provider’s stock worth $350,905,000 after acquiring an additional 9,822,108 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in South Jersey Industries by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 7,609,432 shares of the utilities provider’s stock worth $271,277,000 after acquiring an additional 474,868 shares during the last quarter. Institutional investors own 69.48% of the company’s stock.
A number of equities analysts recently issued reports on the company. BidaskClub upgraded South Jersey Industries from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. Morgan Stanley raised their target price 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. Williams Capital lowered South Jersey Industries from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a research note on Monday. Zacks Investment Research lowered South Jersey Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Finally, Janney Montgomery Scott upgraded 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. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $39.50.
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South Jersey Industries, Inc. (SJI) opened at 35.14 on Wednesday. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 32.63 and a beta of 0.77. South Jersey Industries, Inc. has a 52 week low of $27.51 and a 52 week high of $38.40. The company has a 50-day moving average price of $35.29 and a 200-day moving average price of $35.39.
South Jersey Industries (NYSE:SJI) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. South Jersey Industries had a net margin of 7.02% and a return on equity of 7.71%. The company had revenue of $244.37 million during the quarter, compared to the consensus estimate of $179.63 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Equities research analysts anticipate that South Jersey Industries, Inc. will post $1.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th will be paid a $0.273 dividend. The ex-dividend date is Friday, September 8th. This represents a $1.09 annualized dividend and a yield of 3.11%. South Jersey Industries’s dividend payout ratio is presently 101.87%.
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 (Midstream).
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