American Century Companies Inc. acquired a new stake in shares of South Jersey Industries Inc (NYSE:SJI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 120,802 shares of the utilities provider’s stock, valued at approximately $4,043,000. American Century Companies Inc. owned about 0.14% of South Jersey Industries at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in shares of South Jersey Industries during the first quarter valued at about $112,000. Bank of Montreal Can bought a new position in shares of South Jersey Industries during the second quarter valued at about $125,000. Point72 Asia Hong Kong Ltd bought a new position in shares of South Jersey Industries during the first quarter valued at about $148,000. Royal Bank of Canada grew its stake in shares of South Jersey Industries by 77.4% during the first quarter. Royal Bank of Canada now owns 5,579 shares of the utilities provider’s stock valued at $156,000 after buying an additional 2,435 shares during the last quarter. Finally, Integrated Investment Consultants LLC bought a new position in shares of South Jersey Industries during the second quarter valued at about $182,000. 85.11% of the stock is currently owned by hedge funds and other institutional investors.

NYSE SJI opened at $33.50 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.12 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $2.87 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 1.72 and a beta of 0.50. South Jersey Industries Inc has a 1 year low of $25.96 and a 1 year high of $36.41.

South Jersey Industries (NYSE:SJI) last posted its earnings results on Wednesday, August 8th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. The company had revenue of $227.33 million for the quarter, compared to analysts’ expectations of $254.54 million. South Jersey Industries had a positive return on equity of 11.36% and a negative net margin of 1.22%. South Jersey Industries’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. analysts anticipate that South Jersey Industries Inc will post 1.6 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Monday, September 10th will be issued a $0.28 dividend. The ex-dividend date is Friday, September 7th. This represents a $1.12 annualized dividend and a yield of 3.34%. South Jersey Industries’s dividend payout ratio (DPR) is presently 91.06%.

In related news, Director Sunita Holzer acquired 1,500 shares of the stock in a transaction on Monday, August 27th. The stock was acquired at an average cost of $32.88 per share, for a total transaction of $49,320.00. Following the completion of the acquisition, the director now directly owns 25,866 shares of the company’s stock, valued at approximately $850,474.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.64% of the company’s stock.

Several analysts recently issued reports on SJI shares. JPMorgan Chase & Co. raised their target price on South Jersey Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Zacks Investment Research raised South Jersey Industries from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research note on Wednesday, May 16th. TheStreet cut South Jersey Industries from a “b+” rating to a “c+” rating in a research note on Thursday, August 9th. ValuEngine raised South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Finally, Morgan Stanley raised their target price on South Jersey Industries from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $34.71.

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.

See Also: Price to Earnings Ratio (PE) Basics

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

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