Point72 Asset Management L.P. lifted its holdings in South Jersey Industries, Inc. (NYSE:SJI) by 2,959.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,004,060 shares of the utilities provider’s stock after buying an additional 1,938,560 shares during the quarter. Point72 Asset Management L.P.’s holdings in South Jersey Industries were worth $45,252,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in SJI. Norges Bank acquired a new stake in shares of South Jersey Industries in the fourth quarter worth $24,491,000. BlackRock Inc. grew its holdings in South Jersey Industries by 3.8% during the 1st quarter. BlackRock Inc. now owns 16,436,017 shares of the utilities provider’s stock valued at $371,123,000 after purchasing an additional 604,340 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in South Jersey Industries by 66.7% during the 1st quarter. Nuveen Asset Management LLC now owns 930,434 shares of the utilities provider’s stock valued at $21,009,000 after purchasing an additional 372,194 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in South Jersey Industries by 20.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,088,236 shares of the utilities provider’s stock valued at $47,153,000 after purchasing an additional 356,333 shares in the last quarter. Finally, Ergoteles LLC acquired a new stake in South Jersey Industries during the 1st quarter valued at $8,034,000. 90.87% of the stock is owned by institutional investors.
A number of research firms recently weighed in on SJI. Williams Capital reaffirmed a “buy” rating on shares of South Jersey Industries in a report on Friday, April 23rd. Mizuho raised their price target on shares of South Jersey Industries from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, May 27th. They noted that the move was a valuation call. Morgan Stanley decreased their price objective on shares of South Jersey Industries from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Tuesday. Bank of America raised shares of South Jersey Industries from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, April 28th. Finally, Zacks Investment Research lowered shares of South Jersey Industries from a “buy” rating to a “hold” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. South Jersey Industries has an average rating of “Hold” and an average price target of $27.63.
South Jersey Industries stock opened at $25.11 on Thursday. The business has a 50-day simple moving average of $26.45. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.62 and a current ratio of 0.65. South Jersey Industries, Inc. has a 1 year low of $18.24 and a 1 year high of $29.24. The company has a market cap of $2.82 billion, a P/E ratio of 13.94, a P/E/G ratio of 2.87 and a beta of 0.85.
South Jersey Industries (NYSE:SJI) last posted its quarterly earnings results on Wednesday, May 5th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.07. South Jersey Industries had a net margin of 10.98% and a return on equity of 11.03%. The company had revenue of $674.30 million for the quarter, compared to the consensus estimate of $557.25 million. As a group, equities analysts expect that South Jersey Industries, Inc. will post 1.62 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 2nd. Stockholders of record on Thursday, June 10th were given a $0.303 dividend. This is an increase from South Jersey Industries’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date was Wednesday, June 9th. South Jersey Industries’s dividend payout ratio (DPR) is presently 72.02%.
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 purchased directly from producers or suppliers to customers.
Recommended Story: Price-Sales Ratio
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.