BlackRock Advisors LLC boosted its position in South Jersey Industries Inc. (NYSE:SJI) by 5.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 682,518 shares of the company’s stock after buying an additional 33,582 shares during the period. BlackRock Advisors LLC owned 0.96% of South Jersey Industries worth $21,581,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. State Street Corp increased its stake in South Jersey Industries by 0.7% in the first quarter. State Street Corp now owns 1,448,741 shares of the company’s stock worth $41,215,000 after buying an additional 9,618 shares in the last quarter. Zebra Capital Management LLC increased its position in South Jersey Industries by 131.0% in the first quarter. Zebra Capital Management LLC now owns 29,235 shares of the company’s stock worth $832,000 after buying an additional 16,578 shares during the period. BlackRock Fund Advisors increased its position in South Jersey Industries by 2.0% in the first quarter. BlackRock Fund Advisors now owns 4,472,960 shares of the company’s stock worth $127,256,000 after buying an additional 89,776 shares during the period. BlackRock Group LTD increased its position in South Jersey Industries by 10.7% in the first quarter. BlackRock Group LTD now owns 168,484 shares of the company’s stock worth $4,793,000 after buying an additional 16,320 shares during the period. Finally, BlackRock Inc. increased its position in South Jersey Industries by 29.1% in the first quarter. BlackRock Inc. now owns 44,703 shares of the company’s stock worth $1,272,000 after buying an additional 10,082 shares during the period. 69.68% of the stock is owned by institutional investors.
South Jersey Industries Inc. (NYSE:SJI) opened at 30.67 on Tuesday. South Jersey Industries Inc. has a 52 week low of $21.24 and a 52 week high of $32.03. The firm’s 50-day moving average price is $30.06 and its 200 day moving average price is $29.44. The firm has a market cap of $2.43 billion, a P/E ratio of 21.64 and a beta of 0.67.
South Jersey Industries (NYSE:SJI) last released its quarterly earnings results on Friday, August 5th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by $0.02. South Jersey Industries had a net margin of 11.45% and a return on equity of 9.56%. The business earned $154.40 million during the quarter, compared to analysts’ expectations of $177.83 million. During the same period in the previous year, the business earned $0.03 EPS. Equities analysts forecast that South Jersey Industries Inc. will post $1.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Friday, September 9th will be issued a $0.2638 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.06 annualized dividend and a dividend yield of 3.44%. South Jersey Industries’s payout ratio is currently 72.92%.
SJI has been the subject of a number of analyst reports. Zacks Investment Research raised South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. JPMorgan Chase & Co. initiated coverage on South Jersey Industries in a research note on Tuesday, June 14th. They issued a “neutral” rating and a $31.00 price target for the company. Janney Montgomery Scott downgraded South Jersey Industries from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 28th. Finally, Morgan Stanley initiated coverage on South Jersey Industries in a research note on Thursday, September 8th. They issued an “equal weight” rating and a $32.00 price target for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average 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.
Receive News & Ratings for South Jersey Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South Jersey Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.