Principal Financial Group Inc. Increases Stake in South Jersey Industries, Inc. (NYSE:SJI)

Principal Financial Group Inc. grew its position in shares of South Jersey Industries, Inc. (NYSE:SJI) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 847,817 shares of the utilities provider’s stock after buying an additional 81,906 shares during the quarter. Principal Financial Group Inc.’s holdings in South Jersey Industries were worth $16,337,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Harbor Investment Advisory LLC raised its position in South Jersey Industries by 103.3% during the 3rd quarter. Harbor Investment Advisory LLC now owns 2,125 shares of the utilities provider’s stock worth $41,000 after buying an additional 1,080 shares during the last quarter. Prospera Financial Services Inc purchased a new position in South Jersey Industries during the 3rd quarter worth $68,000. Costello Asset Management INC raised its position in South Jersey Industries by 3,325.0% during the 3rd quarter. Costello Asset Management INC now owns 6,850 shares of the utilities provider’s stock worth $132,000 after buying an additional 6,650 shares during the last quarter. Aigen Investment Management LP purchased a new position in South Jersey Industries during the 3rd quarter worth $229,000. Finally, AlphaCrest Capital Management LLC purchased a new position in South Jersey Industries during the 2nd quarter worth $261,000. Institutional investors own 83.28% of the company’s stock.

A number of research firms have recently weighed in on SJI. Zacks Investment Research cut shares of South Jersey Industries from a “hold” rating to a “strong sell” rating in a research note on Saturday, October 17th. Maxim Group reaffirmed a “buy” rating on shares of South Jersey Industries in a research note on Tuesday, August 11th. Finally, Morgan Stanley upped their price target on shares of South Jersey Industries from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 17th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $26.00.

Shares of NYSE SJI opened at $22.69 on Friday. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 1.20 and a beta of 0.76. South Jersey Industries, Inc. has a 52 week low of $18.24 and a 52 week high of $33.43. The company’s 50-day moving average price is $20.66 and its 200 day moving average price is $23.18. The company has a current ratio of 0.46, a quick ratio of 0.41 and a debt-to-equity ratio of 1.54.

South Jersey Industries (NYSE:SJI) last issued its quarterly earnings data on Wednesday, November 4th. The utilities provider reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.17. The firm had revenue of $261.55 million for the quarter, compared to analysts’ expectations of $261.28 million. South Jersey Industries had a net margin of 6.79% and a return on equity of 7.84%. The firm’s revenue was up .1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.30) EPS. As a group, research analysts expect that South Jersey Industries, Inc. will post 1.53 earnings per share for the current year.

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 purchased directly from producers or suppliers to customers.

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

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