Teacher Retirement System of Texas lifted its position in shares of South Jersey Industries Inc (NYSE:SJI) by 311.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,137 shares of the utilities provider’s stock after buying an additional 20,540 shares during the period. Teacher Retirement System of Texas’ holdings in South Jersey Industries were worth $847,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in SJI. Wells Fargo & Company MN lifted its position in shares of South Jersey Industries by 9.4% during the third quarter. Wells Fargo & Company MN now owns 1,907,795 shares of the utilities provider’s stock worth $65,876,000 after purchasing an additional 164,517 shares during the last quarter. Legal & General Group Plc raised its stake in South Jersey Industries by 4.5% during the third quarter. Legal & General Group Plc now owns 184,596 shares of the utilities provider’s stock worth $6,375,000 after acquiring an additional 7,943 shares during the period. Miles Capital Inc. acquired a new stake in South Jersey Industries during the fourth quarter worth about $310,000. Peregrine Capital Management LLC acquired a new stake in South Jersey Industries during the fourth quarter worth about $5,915,000. Finally, Advantus Capital Management Inc raised its stake in South Jersey Industries by 35.6% during the third quarter. Advantus Capital Management Inc now owns 81,886 shares of the utilities provider’s stock worth $2,828,000 after acquiring an additional 21,500 shares during the period. 70.56% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Saturday. Guggenheim reiterated a “hold” rating and set a $32.00 price objective on shares of South Jersey Industries in a research note on Wednesday, January 3rd. Morgan Stanley lowered their price objective on shares of South Jersey Industries from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 13th. Sidoti cut shares of South Jersey Industries from a “buy” rating to a “neutral” rating and set a $34.00 target price for the company. in a report on Monday, January 8th. Finally, Hilliard Lyons cut shares of South Jersey Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $33.43.
South Jersey Industries Inc (SJI) traded up $0.11 during trading on Wednesday, hitting $27.89. 457,073 shares of the stock were exchanged, compared to its average volume of 551,927. The company has a market cap of $2,220.00, a P/E ratio of -696.75, a P/E/G ratio of 1.77 and a beta of 0.66. South Jersey Industries Inc has a fifty-two week low of $25.96 and a fifty-two week high of $38.40. The company has a quick ratio of 0.44, a current ratio of 0.50 and a debt-to-equity ratio of 0.94.
South Jersey Industries (NYSE:SJI) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. South Jersey Industries had a negative net margin of 0.28% and a positive return on equity of 7.84%. The firm had revenue of $345.74 million for the quarter, compared to the consensus estimate of $336.19 million. During the same quarter last year, the firm posted $0.42 EPS. equities research analysts anticipate that South Jersey Industries Inc will post 1.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Monday, March 19th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, March 16th. This represents a $1.12 dividend on an annualized basis and a yield of 4.02%. South Jersey Industries’s dividend payout ratio (DPR) is presently -2,800.00%.
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).
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