Oppenheimer Asset Management Inc. lessened its holdings in South Jersey Industries Inc (NYSE:SJI) by 83.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,885 shares of the utilities provider’s stock after selling 41,227 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in South Jersey Industries were worth $266,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC boosted its position in shares of South Jersey Industries by 65.3% in the second quarter. Advisory Services Network LLC now owns 1,190 shares of the utilities provider’s stock worth $40,000 after buying an additional 470 shares during the period. Coastal Investment Advisors Inc. boosted its position in shares of South Jersey Industries by 147.1% in the second quarter. Coastal Investment Advisors Inc. now owns 2,891 shares of the utilities provider’s stock worth $99,000 after buying an additional 1,721 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in shares of South Jersey Industries in the second quarter worth $107,000. Sageworth Trust Co acquired a new stake in shares of South Jersey Industries in the second quarter worth $135,000. Finally, NEXT Financial Group Inc acquired a new stake in shares of South Jersey Industries in the second quarter worth $171,000. 83.22% of the stock is owned by institutional investors and hedge funds.
Shares of South Jersey Industries stock traded up $0.33 during trading on Friday, reaching $33.05. The company’s stock had a trading volume of 69,619 shares, compared to its average volume of 416,643. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.23 and a current ratio of 0.26. The business’s fifty day moving average price is $32.31 and its 200-day moving average price is $32.24. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 4.51 and a beta of 0.70. South Jersey Industries Inc has a one year low of $26.06 and a one year high of $36.72.
South Jersey Industries (NYSE:SJI) last posted its quarterly earnings data on Wednesday, August 7th. The utilities provider reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.09). The business had revenue of $266.93 million during the quarter, compared to the consensus estimate of $254.12 million. South Jersey Industries had a return on equity of 7.10% and a net margin of 7.97%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share. Sell-side analysts anticipate that South Jersey Industries Inc will post 1.1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Tuesday, September 10th will be paid a $0.287 dividend. The ex-dividend date is Monday, September 9th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.47%. South Jersey Industries’s payout ratio is presently 83.33%.
Several analysts have recently commented on the company. Zacks Investment Research cut South Jersey Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. cut South Jersey Industries from an “overweight” rating to a “neutral” rating and set a $32.00 target price for the company. in a research report on Monday, August 5th. Maxim Group set a $40.00 target price on South Jersey Industries and gave the stock a “buy” rating in a research report on Friday, August 9th. Guggenheim upgraded South Jersey Industries from a “neutral” rating to a “buy” rating and raised their target price for the company from $32.00 to $35.00 in a report on Thursday, June 13th. Finally, TheStreet lowered South Jersey Industries from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. South Jersey Industries has a consensus rating of “Buy” and a consensus price target of $34.43.
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.
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