Pinebridge Investments L.P. decreased its stake in shares of South Jersey Industries, Inc. (NYSE:SJI) by 78.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 9,863 shares of the utilities provider’s stock after selling 35,677 shares during the period. Pinebridge Investments L.P.’s holdings in South Jersey Industries were worth $340,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of South Jersey Industries by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,025 shares of the utilities provider’s stock valued at $103,000 after acquiring an additional 262 shares during the last quarter. First Mercantile Trust Co. increased its holdings in shares of South Jersey Industries by 2.0% during the 2nd quarter. First Mercantile Trust Co. now owns 3,060 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 60 shares during the last quarter. WFG Advisors LP increased its holdings in shares of South Jersey Industries by 8.0% during the 2nd quarter. WFG Advisors LP now owns 3,153 shares of the utilities provider’s stock valued at $108,000 after acquiring an additional 234 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new position in shares of South Jersey Industries during the 3rd quarter valued at about $110,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of South Jersey Industries by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,585 shares of the utilities provider’s stock valued at $122,000 after acquiring an additional 29 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

South Jersey Industries, Inc. (SJI) remained flat at $$32.99 on Tuesday. 285,800 shares of the company were exchanged, compared to its average volume of 333,459. The stock has a market cap of $2,620.00, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 3.72 and a beta of 0.70. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 0.97. South Jersey Industries, Inc. has a twelve month low of $31.39 and a twelve month high of $38.40.

South Jersey Industries (NYSE:SJI) last released its earnings results on Thursday, November 2nd. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.04). The business had revenue of $227.13 million during the quarter, compared to analyst estimates of $222.92 million. South Jersey Industries had a net margin of 3.13% and a return on equity of 7.16%. sell-side analysts forecast that South Jersey Industries, Inc. will post 1.18 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Monday, December 11th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $1.12 dividend on an annualized basis and a yield of 3.39%. This is a positive change from South Jersey Industries’s previous quarterly dividend of $0.27. South Jersey Industries’s dividend payout ratio (DPR) is 233.33%.

A number of analysts have issued reports on the company. Janney Montgomery Scott reaffirmed a “buy” rating on shares of South Jersey Industries in a report on Tuesday, October 17th. Williams Capital lowered South Jersey Industries from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Monday, September 18th. Morgan Stanley raised their target price on South Jersey Industries from $39.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, September 8th. Zacks Investment Research raised South Jersey Industries from a “sell” rating to a “hold” rating in a report on Friday, November 17th. Finally, BidaskClub lowered South Jersey Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $38.00.

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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 (Midstream).

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

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