Clear Harbor Asset Management LLC reduced its holdings in South Jersey Industries Inc (NYSE:SJI) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,619 shares of the utilities provider’s stock after selling 1,040 shares during the quarter. Clear Harbor Asset Management LLC owned 0.12% of South Jersey Industries worth $3,580,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Comerica Bank increased its position in South Jersey Industries by 0.4% in the 4th quarter. Comerica Bank now owns 98,746 shares of the utilities provider’s stock valued at $2,924,000 after acquiring an additional 411 shares during the period. Rehmann Capital Advisory Group increased its position in South Jersey Industries by 71.3% in the 4th quarter. Rehmann Capital Advisory Group now owns 990 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 412 shares during the period. State of Alaska Department of Revenue increased its position in South Jersey Industries by 1.6% in the 4th quarter. State of Alaska Department of Revenue now owns 28,620 shares of the utilities provider’s stock valued at $795,000 after acquiring an additional 450 shares during the period. Piedmont Investment Advisors Inc. increased its position in South Jersey Industries by 3.3% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 20,353 shares of the utilities provider’s stock valued at $566,000 after acquiring an additional 658 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in South Jersey Industries by 16.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,888 shares of the utilities provider’s stock valued at $164,000 after acquiring an additional 841 shares during the period. Hedge funds and other institutional investors own 80.21% of the company’s stock.
A number of equities analysts have issued reports on SJI shares. ValuEngine raised South Jersey Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, January 22nd. Zacks Investment Research raised South Jersey Industries from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 14th. Finally, Maxim Group started coverage on South Jersey Industries in a research note on Tuesday, April 16th. They set a “buy” rating and a $40.00 price target for the company. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $34.71.
South Jersey Industries (NYSE:SJI) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.14. The firm had revenue of $637.30 million during the quarter, compared to analyst estimates of $571.00 million. South Jersey Industries had a return on equity of 8.66% and a net margin of 3.40%. Equities research analysts forecast that South Jersey Industries Inc will post 1.1 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be paid a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Friday, June 7th. South Jersey Industries’s dividend payout ratio is presently 83.33%.
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South Jersey Industries 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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