JPMorgan Chase & Co. Sells 117,888 Shares of South Jersey Industries Inc (NYSE:SJI)

JPMorgan Chase & Co. trimmed its holdings in South Jersey Industries Inc (NYSE:SJI) by 81.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,984 shares of the utilities provider’s stock after selling 117,888 shares during the period. JPMorgan Chase & Co.’s holdings in South Jersey Industries were worth $904,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SJI. Public Employees Retirement System of Ohio increased its position in South Jersey Industries by 0.8% during the second quarter. Public Employees Retirement System of Ohio now owns 3,585 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 29 shares during the last quarter. Amalgamated Bank increased its position in South Jersey Industries by 0.8% during the second quarter. Amalgamated Bank now owns 10,896 shares of the utilities provider’s stock worth $372,000 after purchasing an additional 89 shares during the last quarter. WFG Advisors LP increased its position in South Jersey Industries by 8.0% during the second quarter. WFG Advisors LP now owns 3,153 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 234 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in South Jersey Industries by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,025 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 262 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in South Jersey Industries by 0.7% during the second quarter. UBS Asset Management Americas Inc. now owns 62,487 shares of the utilities provider’s stock worth $2,135,000 after purchasing an additional 429 shares during the last quarter. Institutional investors and hedge funds own 70.35% of the company’s stock.

Shares of South Jersey Industries Inc (NYSE:SJI) opened at $29.29 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.38 and a current ratio of 0.47. South Jersey Industries Inc has a 12-month low of $29.04 and a 12-month high of $38.40. The firm has a market cap of $2,329.99, a PE ratio of 25.47, a price-to-earnings-growth ratio of 2.04 and a beta of 0.71.

South Jersey Industries (NYSE:SJI) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.04). South Jersey Industries had a net margin of 3.13% and a return on equity of 7.16%. The business had revenue of $227.13 million during the quarter, compared to analysts’ expectations of $222.92 million. equities research analysts anticipate that South Jersey Industries Inc will post 1.16 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Stockholders of record on Monday, December 11th were paid a $0.28 dividend. This is a positive change from South Jersey Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, December 8th. This represents a $1.12 annualized dividend and a dividend yield of 3.82%. South Jersey Industries’s dividend payout ratio (DPR) is presently 233.34%.

Several research firms recently issued reports on SJI. TheStreet cut shares of South Jersey Industries from a “b-” rating to a “c+” rating in a research report on Wednesday, January 10th. Sidoti cut shares of South Jersey Industries from a “buy” rating to a “neutral” rating and set a $34.00 price objective for the company. in a research report on Monday, January 8th. Guggenheim reiterated a “hold” rating and set a $32.00 price target on shares of South Jersey Industries in a research report on Wednesday, January 3rd. Morgan Stanley dropped their price target on shares of South Jersey Industries from $40.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 13th. Finally, Zacks Investment Research upgraded shares of South Jersey Industries from a “sell” rating to a “hold” rating in a research report on Friday, November 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. South Jersey Industries presently has an average rating of “Hold” and a consensus target price of $35.83.

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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).

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

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