South Jersey Industries, Inc. Plans Dividend of $0.27 (SJI)
South Jersey Industries, Inc. (NYSE:SJI) declared a dividend on Wednesday, August 30th, NASDAQ reports. Shareholders of record on Monday, September 11th will be paid a dividend of 0.273 per share by the utilities provider on Tuesday, October 3rd. The ex-dividend date is Friday, September 8th.
South Jersey Industries has increased its dividend by an average of 5.7% annually over the last three years. South Jersey Industries has a dividend payout ratio of 90.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect South Jersey Industries to earn $1.44 per share next year, which means the company should continue to be able to cover its $1.09 annual dividend with an expected future payout ratio of 75.7%.
South Jersey Industries (NYSE SJI) opened at 35.43 on Thursday. The firm has a market capitalization of $2.81 billion, a P/E ratio of 32.90 and a beta of 0.77. The firm has a 50-day moving average price of $34.38 and a 200-day moving average price of $35.17. South Jersey Industries has a 52 week low of $27.51 and a 52 week high of $38.40.
South Jersey Industries (NYSE:SJI) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The company had revenue of $244.37 million during 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 prior year, the business earned $0.12 earnings per share. Equities analysts forecast that South Jersey Industries will post $1.19 EPS for the current year.
Several equities analysts recently weighed in on the stock. BidaskClub upgraded shares of South Jersey Industries from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded shares of South Jersey Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Morgan Stanley increased their price target on shares of South Jersey Industries from $38.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. Williams Capital upgraded shares of 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 report on Monday, July 17th. Finally, Janney Montgomery Scott upgraded shares of South Jersey Industries from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. They noted that the move was a valuation call. One investment 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 has an average rating of “Hold” and a consensus target price of $39.25.
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).
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