Zebra Capital Management LLC Acquires Shares of 13,279 South Jersey Industries Inc (SJI)
Zebra Capital Management LLC acquired a new stake in South Jersey Industries Inc (NYSE:SJI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,279 shares of the utilities provider’s stock, valued at approximately $444,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in South Jersey Industries by 14.7% in the 2nd quarter. BlackRock Inc. now owns 11,859,599 shares of the utilities provider’s stock valued at $396,941,000 after acquiring an additional 1,523,108 shares during the period. FMR LLC raised its stake in South Jersey Industries by 79.9% in the 2nd quarter. FMR LLC now owns 3,725,457 shares of the utilities provider’s stock valued at $124,692,000 after acquiring an additional 1,655,127 shares during the period. Earnest Partners LLC raised its stake in South Jersey Industries by 2.1% in the 1st quarter. Earnest Partners LLC now owns 2,195,310 shares of the utilities provider’s stock valued at $61,820,000 after acquiring an additional 45,784 shares during the period. Wells Fargo & Company MN raised its stake in South Jersey Industries by 6.7% in the 1st quarter. Wells Fargo & Company MN now owns 1,998,641 shares of the utilities provider’s stock valued at $56,281,000 after acquiring an additional 124,624 shares during the period. Finally, Macquarie Group Ltd. raised its stake in South Jersey Industries by 10.5% in the 2nd quarter. Macquarie Group Ltd. now owns 1,834,091 shares of the utilities provider’s stock valued at $61,387,000 after acquiring an additional 173,883 shares during the period. 85.11% of the stock is owned by institutional investors.
SJI stock opened at $35.76 on Tuesday. 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 firm has a market cap of $3.02 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 1.81 and a beta of 0.51. South Jersey Industries Inc has a fifty-two week low of $25.96 and a fifty-two week high of $36.01.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 2nd. Shareholders of record on Monday, September 10th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Friday, September 7th. South Jersey Industries’s payout ratio is 91.06%.
SJI has been the topic of a number of research analyst reports. ValuEngine cut South Jersey Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, June 6th. Zacks Investment Research cut South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Saturday, June 23rd. Morgan Stanley increased their price target on South Jersey Industries from $31.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, July 16th. Bank of America initiated coverage on South Jersey Industries in a research note on Monday, July 30th. They issued a “neutral” rating and a $34.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price target on South Jersey Industries from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $35.43.
In other news, Director Sunita Holzer acquired 1,500 shares of the stock in a transaction on Monday, August 27th. The shares were purchased at an average price of $32.88 per share, for a total transaction of $49,320.00. Following the transaction, the director now directly owns 25,866 shares of the company’s stock, valued at $850,474.08. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.64% of the stock is owned by company insiders.
South Jersey Industries Profile
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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