South Jersey Industries Inc (NYSE:SJI) Stock Position Reduced by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its position in shares of South Jersey Industries Inc (NYSE:SJI) by 83.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,885 shares of the utilities provider’s stock after selling 41,227 shares during the period. Oppenheimer Asset Management Inc.’s holdings in South Jersey Industries were worth $266,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC lifted its holdings in South Jersey Industries by 65.3% during the 2nd quarter. Advisory Services Network LLC now owns 1,190 shares of the utilities provider’s stock worth $40,000 after buying an additional 470 shares during the last quarter. Coastal Investment Advisors Inc. lifted its holdings in shares of South Jersey Industries by 147.1% in the 2nd 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 during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of South Jersey Industries in the 2nd quarter worth approximately $107,000. Sageworth Trust Co bought a new stake in shares of South Jersey Industries in the 2nd quarter worth approximately $135,000. Finally, NEXT Financial Group Inc bought a new stake in shares of South Jersey Industries in the 2nd quarter worth approximately $171,000. 83.22% of the stock is currently owned by institutional investors.

SJI traded up $0.33 during trading hours on Friday, hitting $33.05. The company’s stock had a trading volume of 69,619 shares, compared to its average volume of 416,643. South Jersey Industries Inc has a fifty-two week low of $26.06 and a fifty-two week high of $36.72. The company has a current ratio of 0.26, a quick ratio of 0.23 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $3.02 billion, a PE ratio of 23.95, a PEG ratio of 4.51 and a beta of 0.70. The company has a 50-day simple moving average of $32.31 and a 200 day simple moving average of $32.24.



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

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 10th will be given a $0.287 dividend. This represents a $1.15 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Monday, September 9th. South Jersey Industries’s dividend payout ratio is currently 83.33%.

Several analysts recently issued reports on SJI shares. TheStreet downgraded South Jersey Industries from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Zacks Investment Research downgraded South Jersey Industries from a “buy” rating to a “hold” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. downgraded South Jersey Industries from an “overweight” rating to a “neutral” rating and set a $32.00 price target on the stock. in a report on Monday, August 5th. Guggenheim raised South Jersey Industries from a “neutral” rating to a “buy” rating and raised their price target for the stock from $32.00 to $35.00 in a report on Thursday, June 13th. Finally, Morgan Stanley set a $30.00 price target on South Jersey Industries and gave the stock a “hold” rating in a report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $34.43.

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.

See Also: Producer Price Index (PPI)

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

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