Bailard Inc. purchased a new position in shares of South Jersey Industries, Inc. (NYSE:SJI – Get Rating) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 7,900 shares of the utilities provider’s stock, valued at approximately $206,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Good Life Advisors LLC bought a new position in South Jersey Industries during the fourth quarter worth about $279,000. JPMorgan Chase & Co. raised its stake in shares of South Jersey Industries by 70.2% in the fourth quarter. JPMorgan Chase & Co. now owns 255,420 shares of the utilities provider’s stock valued at $6,672,000 after acquiring an additional 105,308 shares during the last quarter. Confluence Wealth Services Inc. bought a new position in shares of South Jersey Industries in the fourth quarter valued at approximately $99,000. Pictet Asset Management SA bought a new position in shares of South Jersey Industries in the fourth quarter valued at approximately $222,000. Finally, Citigroup Inc. raised its stake in shares of South Jersey Industries by 40.7% in the fourth quarter. Citigroup Inc. now owns 86,182 shares of the utilities provider’s stock valued at $2,251,000 after acquiring an additional 24,913 shares during the last quarter. Hedge funds and other institutional investors own 84.30% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Maxim Group cut shares of South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Friday, February 25th. Bank of America cut shares of South Jersey Industries from a “buy” rating to a “neutral” rating and set a $25.00 target price for the company. in a research note on Thursday, February 17th. Guggenheim lowered shares of South Jersey Industries from a “buy” rating to a “neutral” rating in a report on Thursday, January 20th. Zacks Investment Research lowered shares of South Jersey Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Finally, StockNews.com raised shares of South Jersey Industries from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. Eight equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.17.
South Jersey Industries (NYSE:SJI – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.07). South Jersey Industries had a return on equity of 9.82% and a net margin of 4.14%. The business had revenue of $824.58 million for the quarter, compared to the consensus estimate of $689.67 million. During the same period last year, the firm earned $1.26 earnings per share. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, equities research analysts predict that South Jersey Industries, Inc. will post 1.69 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 10th will be paid a dividend of $0.31 per share. The ex-dividend date is Thursday, June 9th. This represents a $1.24 annualized dividend and a dividend yield of 3.64%.
About South Jersey Industries (Get Rating)
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 purchased directly from producers or suppliers to customers.
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