PineBridge Investments L.P. boosted its position in shares of South Jersey Industries Inc. (NYSE:SJI) by 19.4% during the second quarter, Holdings Channel reports. The firm owned 10,079 shares of the company’s stock after buying an additional 1,640 shares during the period. PineBridge Investments L.P.’s holdings in South Jersey Industries were worth $319,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of South Jersey Industries during the fourth quarter worth approximately $11,830,000. Moody Aldrich Partners LLC purchased a new stake in shares of South Jersey Industries during the first quarter worth approximately $535,000. Glenmede Trust Co. NA raised its stake in shares of South Jersey Industries by 7.6% in the first quarter. Glenmede Trust Co. NA now owns 20,492 shares of the company’s stock worth $582,000 after buying an additional 1,439 shares during the period. Aperio Group LLC raised its stake in shares of South Jersey Industries by 7.6% in the first quarter. Aperio Group LLC now owns 22,796 shares of the company’s stock worth $649,000 after buying an additional 1,618 shares during the period. Finally, Nisa Investment Advisors L.L.C. raised its stake in shares of South Jersey Industries by 18.1% in the first quarter. Nisa Investment Advisors L.L.C. now owns 57,400 shares of the company’s stock worth $1,633,000 after buying an additional 8,800 shares during the period. Institutional investors own 69.68% of the company’s stock.

South Jersey Industries Inc. (NYSE:SJI) opened at 30.07 on Thursday. South Jersey Industries Inc. has a 12 month low of $21.24 and a 12 month high of $32.03. The firm has a market cap of $2.38 billion, a P/E ratio of 21.22 and a beta of 0.67. The firm’s 50-day moving average price is $30.11 and its 200-day moving average price is $29.33.

South Jersey Industries (NYSE:SJI) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.02. South Jersey Industries had a return on equity of 9.56% and a net margin of 11.45%. The business had revenue of $154.40 million for the quarter, compared to analyst estimates of $177.83 million. During the same quarter in the previous year, the business posted $0.03 earnings per share. On average, equities research analysts expect that South Jersey Industries Inc. will post $1.31 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Friday, September 9th will be issued a dividend of $0.2638 per share. The ex-dividend date is Wednesday, September 7th. This represents a $1.06 dividend on an annualized basis and a yield of 3.51%. South Jersey Industries’s payout ratio is currently 72.92%.

SJI has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on South Jersey Industries in a report on Tuesday, June 14th. They issued a “neutral” rating and a $31.00 price target on the stock. Janney Montgomery Scott lowered South Jersey Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Zacks Investment Research upgraded South Jersey Industries from a “strong sell” rating to a “hold” rating in a report on Thursday, July 7th. Finally, Morgan Stanley assumed coverage on South Jersey Industries in a report on Thursday, September 8th. They set an “equal weight” rating and a $32.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $32.50.

About South Jersey Industries

South Jersey Industries, Inc (SJI) is an energy services holding company. The Company provides a range of energy-related products and services, primarily through its subsidiaries. Its subsidiaries include South Jersey Gas Company (SJG), South Jersey Energy Company (SJE), South Jersey Resources Group, LLC (SJRG), South Jersey Exploration, LLC (SJEX), Marina Energy, LLC (Marina), South Jersey Energy Service Plus, LLC (SJESP) and SJI Midstream, LLC.

5 Day Chart for NYSE:SJI

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