Securian Asset Management Inc Has $2.64 Million Stake in South Jersey Industries Inc (NYSE:SJI)

Securian Asset Management Inc decreased its position in shares of South Jersey Industries Inc (NYSE:SJI) by 13.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,286 shares of the utilities provider’s stock after selling 12,000 shares during the period. Securian Asset Management Inc owned about 0.08% of South Jersey Industries worth $2,641,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SJI. Advisory Services Network LLC increased its holdings in shares of South Jersey Industries by 65.3% in the second quarter. Advisory Services Network LLC now owns 1,190 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 470 shares in the last quarter. Pinnacle Financial Partners Inc. bought a new position in shares of South Jersey Industries during the first quarter worth $61,000. Quadrant Capital Group LLC boosted its position in shares of South Jersey Industries by 720.2% during the first quarter. Quadrant Capital Group LLC now owns 2,116 shares of the utilities provider’s stock worth $62,000 after purchasing an additional 1,858 shares in the last quarter. Coastal Investment Advisors Inc. boosted its position in shares of South Jersey Industries by 147.1% during the second quarter. Coastal Investment Advisors Inc. now owns 2,891 shares of the utilities provider’s stock worth $99,000 after purchasing an additional 1,721 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of South Jersey Industries during the second quarter worth $107,000. 80.19% of the stock is owned by institutional investors.

Shares of NYSE SJI traded up $0.04 during midday trading on Friday, reaching $31.50. 226 shares of the stock were exchanged, compared to its average volume of 424,619. The business has a 50-day simple moving average of $32.85 and a two-hundred day simple moving average of $32.09. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 4.37 and a beta of 0.71. South Jersey Industries Inc has a 12 month low of $26.06 and a 12 month high of $36.72. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.26 and a quick ratio of 0.23.

South Jersey Industries (NYSE:SJI) last issued its quarterly earnings data on Wednesday, August 7th. The utilities provider reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.09). South Jersey Industries had a return on equity of 7.10% and a net margin of 7.97%. The company had revenue of $266.93 million for the quarter, compared to analyst estimates of $254.12 million. During the same quarter in the previous year, the business earned $0.07 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis. Equities research analysts expect that South Jersey Industries Inc will post 1.1 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 10th will be issued a dividend of $0.287 per share. The ex-dividend date is Monday, September 9th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.64%. South Jersey Industries’s payout ratio is 83.33%.

A number of equities analysts have recently weighed in on the stock. Maxim Group set a $40.00 price target on shares of South Jersey Industries and gave the stock a “buy” rating in a research report on Friday, August 9th. Zacks Investment Research cut shares of South Jersey Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Guggenheim raised shares of South Jersey Industries from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $32.00 to $35.00 in a research report on Thursday, June 13th. Morgan Stanley set a $30.00 price target on shares of South Jersey Industries and gave the stock a “hold” rating in a research report on Friday, August 16th. Finally, ValuEngine raised shares of South Jersey Industries from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $34.43.

South Jersey Industries Company Profile

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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