Phocas Financial Corp. reduced its position in shares of South Jersey Industries Inc (NYSE:SJI) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,443 shares of the utilities provider’s stock after selling 391 shares during the period. Phocas Financial Corp. owned about 0.23% of South Jersey Industries worth $7,057,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in South Jersey Industries by 1.5% in the third quarter. California State Teachers Retirement System now owns 144,754 shares of the utilities provider’s stock valued at $4,764,000 after acquiring an additional 2,129 shares in the last quarter. Catalyst Capital Advisors LLC acquired a new stake in South Jersey Industries in the third quarter valued at $497,000. Mason Street Advisors LLC raised its holdings in South Jersey Industries by 1.7% in the third quarter. Mason Street Advisors LLC now owns 31,371 shares of the utilities provider’s stock valued at $1,032,000 after acquiring an additional 532 shares in the last quarter. First Trust Advisors LP raised its holdings in South Jersey Industries by 23.1% in the third quarter. First Trust Advisors LP now owns 1,238,788 shares of the utilities provider’s stock valued at $40,769,000 after acquiring an additional 232,679 shares in the last quarter. Finally, First Mercantile Trust Co. raised its holdings in South Jersey Industries by 11.6% in the third quarter. First Mercantile Trust Co. now owns 4,908 shares of the utilities provider’s stock valued at $162,000 after acquiring an additional 510 shares in the last quarter. 81.71% of the stock is currently owned by institutional investors and hedge funds.
SJI stock traded up $0.05 during trading on Wednesday, hitting $30.51. 894,035 shares of the company’s stock traded hands, compared to its average volume of 551,922. The company has a quick ratio of 0.21, a current ratio of 0.25 and a debt-to-equity ratio of 1.43. South Jersey Industries Inc has a 52 week low of $26.06 and a 52 week high of $34.48. The stock has a fifty day moving average price of $31.25 and a two-hundred day moving average price of $32.35. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 3.36 and a beta of 0.65.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.295 per share. This is a positive change from South Jersey Industries’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, December 9th. This represents a $1.18 annualized dividend and a yield of 3.87%. South Jersey Industries’s payout ratio is presently 83.33%.
Several research firms recently issued reports on SJI. TheStreet cut shares of South Jersey Industries from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Morgan Stanley cut their price target on shares of South Jersey Industries from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, November 8th. Maxim Group reaffirmed a “buy” rating and issued a $40.00 price target on shares of South Jersey Industries in a report on Friday, November 8th. Finally, ValuEngine cut shares of South Jersey Industries from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $35.00.
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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