ProShare Advisors LLC decreased its position in shares of South Jersey Industries, Inc. (NYSE:SJI) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 207,346 shares of the utilities provider’s stock after selling 9,866 shares during the quarter. ProShare Advisors LLC owned approximately 0.26% of South Jersey Industries worth $7,085,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in South Jersey Industries by 46,816.5% during the 1st quarter. BlackRock Inc. now owns 9,843,088 shares of the utilities provider’s stock worth $350,905,000 after buying an additional 9,822,108 shares in the last quarter. Vanguard Group Inc. lifted its holdings in South Jersey Industries by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 7,609,432 shares of the utilities provider’s stock worth $271,277,000 after buying an additional 474,868 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in South Jersey Industries by 54.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,311,983 shares of the utilities provider’s stock worth $82,422,000 after buying an additional 812,762 shares in the last quarter. State Street Corp lifted its holdings in South Jersey Industries by 6.3% during the 1st quarter. State Street Corp now owns 1,956,777 shares of the utilities provider’s stock worth $69,759,000 after buying an additional 115,667 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in South Jersey Industries by 2.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,743,278 shares of the utilities provider’s stock worth $59,568,000 after buying an additional 48,640 shares in the last quarter. 69.48% of the stock is currently owned by hedge funds and other institutional investors.

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Several research analysts have issued reports on SJI shares. BidaskClub downgraded South Jersey Industries from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Zacks Investment Research raised South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Williams Capital raised South Jersey Industries from a “hold” rating to a “buy” rating and increased their price target for the company from $34.00 to $36.00 in a research note on Monday, July 17th. Janney Montgomery Scott raised South Jersey Industries from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price target on South Jersey Industries from $38.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. South Jersey Industries presently has an average rating of “Hold” and an average price target of $39.50.

Shares of South Jersey Industries, Inc. (NYSE:SJI) opened at 35.14 on Wednesday. South Jersey Industries, Inc. has a 52 week low of $27.51 and a 52 week high of $38.40. The company’s 50-day moving average price is $35.29 and its 200 day moving average price is $35.39. The firm has a market cap of $2.79 billion, a P/E ratio of 32.63 and a beta of 0.77.

South Jersey Industries (NYSE:SJI) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $244.37 million for the quarter, compared to analyst estimates of $179.63 million. South Jersey Industries had a net margin of 7.02% and a return on equity of 7.71%. During the same quarter in the previous year, the business earned $0.12 earnings per share. On average, equities analysts anticipate that South Jersey Industries, Inc. will post $1.19 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Monday, September 11th will be issued a $0.273 dividend. The ex-dividend date is Friday, September 8th. This represents a $1.09 annualized dividend and a yield of 3.11%. South Jersey Industries’s payout ratio is 101.87%.

South Jersey Industries 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).

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

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