South Jersey Industries Inc Announces Quarterly Dividend of $0.29 (SJI)

South Jersey Industries Inc (NYSE:SJI) announced a quarterly dividend on Tuesday, February 19th, RTT News reports. Investors of record on Monday, March 18th will be given a dividend of 0.2875 per share by the utilities provider on Tuesday, April 2nd. This represents a $1.15 annualized dividend and a dividend yield of 3.72%.

South Jersey Industries has increased its dividend payment by an average of 3.5% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. South Jersey Industries has a dividend payout ratio of 71.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect South Jersey Industries to earn $1.33 per share next year, which means the company should continue to be able to cover its $1.15 annual dividend with an expected future payout ratio of 86.5%.

South Jersey Industries stock opened at $30.90 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $2.64 billion, a P/E ratio of 25.12, a P/E/G ratio of 2.09 and a beta of 0.80. South Jersey Industries has a twelve month low of $25.96 and a twelve month high of $36.72.

In other news, CEO Michael J. Renna purchased 3,270 shares of the stock in a transaction dated Wednesday, December 12th. The shares were purchased at an average cost of $30.55 per share, with a total value of $99,898.50. Following the acquisition, the chief executive officer now directly owns 61,233 shares of the company’s stock, valued at $1,870,668.15. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Walter M. Higgins purchased 4,546 shares of the stock in a transaction dated Friday, December 14th. The shares were purchased at an average cost of $30.21 per share, for a total transaction of $137,334.66. Following the completion of the acquisition, the chairman now directly owns 37,783 shares in the company, valued at $1,141,424.43. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 8,216 shares of company stock worth $248,733. Company insiders own 0.64% of the company’s stock.

Several analysts recently weighed in on the company. Zacks Investment Research downgraded South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. Wells Fargo & Co reiterated a “market perform” rating and set a $31.00 target price on shares of South Jersey Industries in a research note on Tuesday, October 30th. Williams Capital cut their target price on South Jersey Industries from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, October 29th. ValuEngine downgraded South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Friday, November 30th. Finally, Morgan Stanley cut their target price on South Jersey Industries from $36.00 to $33.00 and set a “hold” rating on the stock in a research note on Tuesday, October 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. South Jersey Industries presently has a consensus rating of “Hold” and a consensus target price of $33.83.

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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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Dividend History for South Jersey Industries (NYSE:SJI)

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