Connable Office Inc. lowered its position in South Jersey Industries, Inc. (NYSE:SJI) by 7.0% during the second quarter, Holdings Channel reports. The institutional investor owned 8,496 shares of the utilities provider’s stock after selling 639 shares during the period. Connable Office Inc.’s holdings in South Jersey Industries were worth $290,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. First Mercantile Trust Co. raised its position in South Jersey Industries by 2.7% in the first quarter. First Mercantile Trust Co. now owns 3,000 shares of the utilities provider’s stock worth $107,000 after buying an additional 80 shares in the last quarter. Bank of Montreal Can raised its position in South Jersey Industries by 180.8% in the first quarter. Bank of Montreal Can now owns 3,370 shares of the utilities provider’s stock worth $120,000 after buying an additional 2,170 shares in the last quarter. LS Investment Advisors LLC raised its position in South Jersey Industries by 52.3% in the first quarter. LS Investment Advisors LLC now owns 4,548 shares of the utilities provider’s stock worth $162,000 after buying an additional 1,561 shares in the last quarter. Everence Capital Management Inc. bought a new position in South Jersey Industries during the first quarter worth about $226,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in South Jersey Industries during the first quarter worth about $228,000. 69.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of South Jersey Industries, Inc. (NYSE SJI) opened at 36.15 on Friday. The company has a 50-day moving average of $34.10 and a 200-day moving average of $34.96. The firm has a market cap of $2.87 billion, a P/E ratio of 33.57 and a beta of 0.77. South Jersey Industries, Inc. has a 12 month low of $27.51 and a 12 month high of $38.40.

South Jersey Industries (NYSE:SJI) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. South Jersey Industries had a net margin of 7.02% and a return on equity of 7.71%. The firm had revenue of $244.37 million during the quarter, compared to analysts’ expectations of $179.63 million. During the same quarter in the prior year, the firm earned $0.12 EPS. Equities analysts forecast that South Jersey Industries, Inc. will post $1.19 EPS for the current fiscal year.

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SJI has been the topic of a number of research reports. Janney Montgomery Scott raised South Jersey Industries from a “neutral” rating to a “buy” rating in a report on Tuesday. They noted that the move was a valuation call. Williams Capital raised South Jersey Industries from a “hold” rating to a “buy” rating and raised their price target for the stock from $34.00 to $36.00 in a report on Monday, July 17th. Zacks Investment Research raised South Jersey Industries from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a report on Tuesday, May 2nd. Morgan Stanley raised their price target on South Jersey Industries from $38.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, BidaskClub downgraded shares of South Jersey Industries from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $39.25.

South Jersey Industries Company Profile

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 (Midstream).

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Institutional Ownership by Quarter for South Jersey Industries (NYSE:SJI)

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