Tower Research Capital LLC TRC bought a new stake in shares of South Jersey Industries Inc (NYSE:SJI) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,172 shares of the utilities provider’s stock, valued at approximately $141,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in SJI. Advisory Services Network LLC grew its stake in shares of South Jersey Industries by 65.3% during the second quarter. Advisory Services Network LLC now owns 1,190 shares of the utilities provider’s stock valued at $40,000 after buying an additional 470 shares during the last quarter. Coastal Investment Advisors Inc. grew its stake 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 valued at $99,000 after buying an additional 1,721 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of South Jersey Industries during the second quarter valued at approximately $107,000. Sageworth Trust Co bought a new position in shares of South Jersey Industries during the second quarter valued at approximately $135,000. Finally, NEXT Financial Group Inc bought a new position in shares of South Jersey Industries during the second quarter valued at approximately $171,000. 81.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE SJI traded up $0.15 during trading hours on Wednesday, reaching $32.69. The stock had a trading volume of 9,768 shares, compared to its average volume of 554,449. 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 cap of $2.99 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 4.47 and a beta of 0.70. The business’s fifty day moving average price is $32.01 and its two-hundred day moving average price is $32.38. South Jersey Industries Inc has a 52-week low of $26.06 and a 52-week high of $36.72.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 10th will be issued a $0.287 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.51%. South Jersey Industries’s payout ratio is 83.33%.
A number of research analysts have recently commented on SJI shares. Morgan Stanley set a $30.00 target price on South Jersey Industries and gave the company a “hold” rating in a research note on Friday, August 16th. TheStreet cut South Jersey Industries from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. lowered South Jersey Industries from an “overweight” rating to a “neutral” rating and set a $32.00 price target for the company. in a report on Monday, August 5th. Maxim Group set a $40.00 price target on South Jersey Industries and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Guggenheim upgraded South Jersey Industries from a “neutral” rating to a “buy” rating and boosted their price target for the company from $32.00 to $35.00 in a report on Thursday, June 13th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target 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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