BNP Paribas Arbitrage SA increased its stake in South Jersey Industries Inc (NYSE:SJI) by 269.7% in the 1st quarter, Holdings Channel reports. The firm owned 21,319 shares of the utilities provider’s stock after purchasing an additional 15,553 shares during the period. BNP Paribas Arbitrage SA’s holdings in South Jersey Industries were worth $684,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Rehmann Capital Advisory Group lifted its holdings in shares of South Jersey Industries by 71.3% during the fourth quarter. Rehmann Capital Advisory Group now owns 990 shares of the utilities provider’s stock worth $28,000 after buying an additional 412 shares during the last quarter. Oregon Public Employees Retirement Fund acquired a new position in shares of South Jersey Industries during the fourth quarter worth approximately $33,000. Versant Capital Management Inc lifted its holdings in shares of South Jersey Industries by 221.7% during the first quarter. Versant Capital Management Inc now owns 1,155 shares of the utilities provider’s stock worth $37,000 after buying an additional 796 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of South Jersey Industries by 40.1% during the fourth quarter. Bank of Montreal Can now owns 4,435 shares of the utilities provider’s stock worth $124,000 after buying an additional 1,269 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of South Jersey Industries by 16.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,888 shares of the utilities provider’s stock worth $164,000 after buying an additional 841 shares during the last quarter. Hedge funds and other institutional investors own 80.21% of the company’s stock.
Shares of NYSE SJI opened at $33.01 on Tuesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.43 and a quick ratio of 0.38. The firm has a market capitalization of $2.95 billion, a P/E ratio of 23.92, a PEG ratio of 4.04 and a beta of 0.76. South Jersey Industries Inc has a one year low of $26.06 and a one year high of $36.72.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 10th will be paid a $0.2875 dividend. The ex-dividend date is Friday, June 7th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.48%. South Jersey Industries’s payout ratio is 83.33%.
A number of brokerages have recently commented on SJI. ValuEngine upgraded South Jersey Industries from a “hold” rating to a “buy” rating in a report on Monday. Zacks Investment Research upgraded South Jersey Industries from a “strong sell” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Maxim Group began coverage on South Jersey Industries in a report on Tuesday, April 16th. They set a “buy” rating and a $40.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $34.71.
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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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