Rhumbline Advisers Grows Position in South Jersey Industries Inc (SJI)

Rhumbline Advisers increased its position in South Jersey Industries Inc (NYSE:SJI) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,206 shares of the utilities provider’s stock after acquiring an additional 2,432 shares during the period. Rhumbline Advisers owned approximately 0.22% of South Jersey Industries worth $5,610,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SJI. Swiss National Bank grew its holdings in South Jersey Industries by 2.0% during the 4th quarter. Swiss National Bank now owns 135,509 shares of the utilities provider’s stock valued at $4,232,000 after buying an additional 2,600 shares during the last quarter. Macquarie Group Ltd. grew its holdings in South Jersey Industries by 30.9% during the 4th quarter. Macquarie Group Ltd. now owns 1,419,647 shares of the utilities provider’s stock valued at $44,336,000 after buying an additional 335,372 shares during the last quarter. Arizona State Retirement System grew its holdings in South Jersey Industries by 224.1% during the 4th quarter. Arizona State Retirement System now owns 133,579 shares of the utilities provider’s stock valued at $4,172,000 after buying an additional 92,361 shares during the last quarter. Geode Capital Management LLC grew its holdings in South Jersey Industries by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 652,066 shares of the utilities provider’s stock valued at $20,364,000 after buying an additional 2,598 shares during the last quarter. Finally, Miles Capital Inc. acquired a new stake in South Jersey Industries during the 4th quarter valued at $310,000. Institutional investors and hedge funds own 69.67% of the company’s stock.

SJI stock opened at $32.44 on Wednesday. South Jersey Industries Inc has a 52-week low of $25.96 and a 52-week high of $37.55. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.41 and a current ratio of 0.45. The firm has a market cap of $2.75 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.63 and a beta of 0.56.

South Jersey Industries (NYSE:SJI) last posted its quarterly earnings data on Monday, May 7th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.33. South Jersey Industries had a return on equity of 11.33% and a net margin of 5.23%. The business had revenue of $521.95 million for the quarter, compared to analysts’ expectations of $430.43 million. During the same quarter last year, the firm earned $0.72 earnings per share. The business’s revenue was up 22.6% on a year-over-year basis. equities research analysts predict that South Jersey Industries Inc will post 1.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Monday, June 11th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Friday, June 8th. South Jersey Industries’s dividend payout ratio (DPR) is 91.06%.

A number of equities research analysts have commented on the company. Zacks Investment Research cut South Jersey Industries from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 12th. TheStreet upgraded South Jersey Industries from a “c+” rating to a “b” rating in a report on Monday, May 7th. Williams Capital increased their target price on South Jersey Industries from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, April 24th. JPMorgan Chase increased their target price on South Jersey Industries from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Tuesday, April 10th. Finally, Morgan Stanley lowered their target price on South Jersey Industries from $35.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $33.33.

South Jersey Industries Company 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.

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

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