NEXT Financial Group Inc acquired a new position in South Jersey Industries Inc (NYSE:SJI) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 5,066 shares of the utilities provider’s stock, valued at approximately $171,000.
Other large investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of South Jersey Industries by 221.7% in the first quarter. Versant Capital Management Inc now owns 1,155 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 796 shares during the last quarter. Pinnacle Financial Partners Inc. purchased a new position in South Jersey Industries during the first quarter worth approximately $61,000. Quadrant Capital Group LLC lifted its position in South Jersey Industries by 720.2% during the first quarter. Quadrant Capital Group LLC now owns 2,116 shares of the utilities provider’s stock worth $62,000 after buying an additional 1,858 shares in the last quarter. CWM Advisors LLC purchased a new position in South Jersey Industries during the second quarter worth approximately $211,000. Finally, Oppenheimer & Co. Inc. purchased a new position in South Jersey Industries during the first quarter worth approximately $213,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.
NYSE:SJI opened at $31.83 on Tuesday. South Jersey Industries Inc has a 52 week low of $26.06 and a 52 week high of $36.72. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.43 and a quick ratio of 0.41. The stock has a market capitalization of $3.13 billion, a P/E ratio of 23.07, a P/E/G ratio of 4.41 and a beta of 0.71. The company has a fifty day simple moving average of $33.60.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Monday, September 9th. South Jersey Industries’s payout ratio is 83.33%.
A number of equities analysts recently commented on SJI shares. Zacks Investment Research downgraded South Jersey Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. ValuEngine upgraded South Jersey Industries from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. TheStreet upgraded South Jersey Industries from a “c+” rating to a “b-” rating in a research report on Tuesday, July 9th. Morgan Stanley set a $31.00 target price on South Jersey Industries and gave the company a “hold” rating in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. downgraded South Jersey Industries from an “overweight” rating to a “neutral” rating and set a $32.00 target price on the stock. in a research report on Monday. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. South Jersey Industries has a consensus rating of “Buy” and an average target price of $34.57.
About South Jersey Industries
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.
Recommended Story: Why do companies pay special dividends?
Want to see what other hedge funds are holding SJI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for South Jersey Industries Inc (NYSE:SJI).
Receive News & Ratings for South Jersey Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South Jersey Industries and related companies with MarketBeat.com's FREE daily email newsletter.