Rhumbline Advisers increased its position in South Jersey Industries Inc (NYSE:SJI) by 4.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 337,616 shares of the utilities provider’s stock after buying an additional 13,941 shares during the quarter. Rhumbline Advisers owned 0.37% of South Jersey Industries worth $8,440,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SJI. Diamond Hill Capital Management Inc. boosted its holdings in shares of South Jersey Industries by 65.1% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,837,457 shares of the utilities provider’s stock valued at $60,599,000 after buying an additional 724,775 shares in the last quarter. Norges Bank bought a new stake in shares of South Jersey Industries during the 4th quarter valued at $20,639,000. Macquarie Group Ltd. boosted its holdings in shares of South Jersey Industries by 13.0% during the 4th quarter. Macquarie Group Ltd. now owns 5,437,820 shares of the utilities provider’s stock valued at $179,339,000 after buying an additional 625,614 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of South Jersey Industries by 21.3% during the 4th quarter. First Trust Advisors LP now owns 1,502,658 shares of the utilities provider’s stock valued at $49,558,000 after buying an additional 263,870 shares in the last quarter. Finally, Reaves W H & Co. Inc. boosted its holdings in shares of South Jersey Industries by 20.3% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,288,996 shares of the utilities provider’s stock valued at $42,511,000 after buying an additional 217,676 shares in the last quarter. Institutional investors and hedge funds own 88.72% of the company’s stock.

In other South Jersey Industries news, Director Sheila Hartnett-Devlin sold 7,200 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.13, for a total value of $195,336.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.67% of the stock is currently owned by insiders.

A number of brokerages have recently commented on SJI. Maxim Group dropped their target price on shares of South Jersey Industries from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Zacks Investment Research raised South Jersey Industries from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Tuesday. Morgan Stanley lowered their price target on South Jersey Industries from $25.00 to $24.00 and set an “underweight” rating for the company in a research report on Friday, May 15th. Finally, Wells Fargo & Co lowered their price target on South Jersey Industries from $29.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. South Jersey Industries currently has a consensus rating of “Hold” and a consensus price target of $29.83.

Shares of NYSE:SJI opened at $27.04 on Friday. South Jersey Industries Inc has a fifty-two week low of $19.62 and a fifty-two week high of $34.48. The business has a 50-day simple moving average of $26.30 and a two-hundred day simple moving average of $29.28. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.27 and a current ratio of 0.30. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 1.78 and a beta of 0.80.

South Jersey Industries (NYSE:SJI) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.03. South Jersey Industries had a return on equity of 7.31% and a net margin of 6.05%. The business had revenue of $534.11 million during the quarter, compared to analyst estimates of $598.28 million. During the same quarter in the previous year, the firm earned $1.09 EPS. South Jersey Industries’s revenue was down 16.2% on a year-over-year basis. As a group, research analysts predict that South Jersey Industries Inc will post 1.51 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Tuesday, June 9th. South Jersey Industries’s dividend payout ratio (DPR) is 105.36%.

About South Jersey Industries

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, which is purchased directly from producers or suppliers to their customers.

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

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