Moody Aldrich Partners LLC boosted its stake in South Jersey Industries Inc. (NYSE:SJI) by 200.1% during the second quarter, Holdings Channel reports. The institutional investor owned 56,450 shares of the company’s stock after buying an additional 37,640 shares during the period. South Jersey Industries accounts for 1.5% of Moody Aldrich Partners LLC’s portfolio, making the stock its 18th largest position. Moody Aldrich Partners LLC’s holdings in South Jersey Industries were worth $1,785,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of South Jersey Industries by 2.1% in the first quarter. Envestnet Asset Management Inc. now owns 7,169 shares of the company’s stock valued at $204,000 after buying an additional 148 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of South Jersey Industries during the first quarter valued at about $235,000. Eqis Capital Management Inc. purchased a new position in shares of South Jersey Industries during the second quarter valued at about $240,000. AMP Capital Investors Ltd purchased a new position in shares of South Jersey Industries during the first quarter valued at about $264,000. Finally, Strs Ohio boosted its position in shares of South Jersey Industries by 132.4% in the second quarter. Strs Ohio now owns 8,600 shares of the company’s stock valued at $271,000 after buying an additional 4,900 shares in the last quarter. Hedge funds and other institutional investors own 69.68% of the company’s stock.
Shares of South Jersey Industries Inc. (NYSE:SJI) traded up 2.86% during trading on Thursday, reaching $30.93. The company’s stock had a trading volume of 487,080 shares. South Jersey Industries Inc. has a one year low of $21.24 and a one year high of $32.03. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 21.83 and a beta of 0.67. The company has a 50-day moving average price of $30.11 and a 200-day moving average price of $29.33.
South Jersey Industries (NYSE:SJI) last announced its quarterly earnings data on Friday, August 5th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The business earned $154.40 million during the quarter, compared to the consensus estimate of $177.83 million. South Jersey Industries had a net margin of 11.45% and a return on equity of 9.56%. During the same period last year, the company earned $0.03 EPS. On average, equities research analysts forecast that South Jersey Industries Inc. will post $1.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Friday, September 9th will be given a $0.2638 dividend. This represents a $1.06 annualized dividend and a yield of 3.41%. The ex-dividend date is Wednesday, September 7th. South Jersey Industries’s dividend payout ratio (DPR) is presently 72.92%.
Several research analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of South Jersey Industries in a report on Thursday, September 8th. They issued an “equal weight” rating and a $32.00 target price on the stock. Zacks Investment Research upgraded shares of South Jersey Industries from a “strong sell” rating to a “hold” rating in a report on Thursday, July 7th. Janney Montgomery Scott cut shares of South Jersey Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Finally, JPMorgan Chase & Co. assumed coverage on shares of South Jersey Industries in a report on Tuesday, June 14th. They issued a “neutral” rating and a $31.00 price target on the stock. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. South Jersey Industries 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.
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