South Jersey Industries Inc (NYSE:SJI) Increases Dividend to $0.30 Per Share

South Jersey Industries Inc (NYSE:SJI) announced a quarterly dividend on Tuesday, November 26th, Zacks reports. Stockholders of record on Tuesday, December 10th will be paid a dividend of 0.295 per share by the utilities provider on Friday, December 27th. This represents a $1.18 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Monday, December 9th. This is a boost from South Jersey Industries’s previous quarterly dividend of $0.29.

South Jersey Industries stock opened at $30.99 on Friday. The stock’s 50 day moving average is $31.18 and its 200 day moving average is $32.31. South Jersey Industries has a one year low of $26.06 and a one year high of $34.48. The firm has a market cap of $2.86 billion, a P/E ratio of 22.46, a P/E/G ratio of 3.36 and a beta of 0.65. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.25 and a quick ratio of 0.21.

South Jersey Industries (NYSE:SJI) last released its earnings results on Wednesday, November 6th. The utilities provider reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). The firm had revenue of $261.20 million for the quarter, compared to analyst estimates of $253.87 million. South Jersey Industries had a net margin of 8.81% and a return on equity of 6.56%. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.27) EPS. Equities analysts anticipate that South Jersey Industries will post 1.09 earnings per share for the current fiscal year.

Several research firms recently issued reports on SJI. ValuEngine lowered shares of South Jersey Industries from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. TheStreet downgraded South Jersey Industries from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Maxim Group reissued a “buy” rating and issued a $40.00 price objective on shares of South Jersey Industries in a research report on Friday, November 8th. Finally, Morgan Stanley lowered their price objective on South Jersey Industries from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, November 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. South Jersey Industries has a consensus rating of “Hold” and an average target price of $35.00.

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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