South Jersey Industries, Inc. (NYSE:SJI) Shares Sold by Highlander Capital Management LLC

Highlander Capital Management LLC lowered its stake in South Jersey Industries, Inc. (NYSE:SJI) by 31.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,600 shares of the utilities provider’s stock after selling 9,400 shares during the quarter. Highlander Capital Management LLC’s holdings in South Jersey Industries were worth $534,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of SJI. Zimmer Partners LP bought a new position in South Jersey Industries during the 1st quarter worth approximately $51,011,000. Point72 Asset Management L.P. increased its position in shares of South Jersey Industries by 2,959.6% during the 1st quarter. Point72 Asset Management L.P. now owns 2,004,060 shares of the utilities provider’s stock valued at $45,252,000 after purchasing an additional 1,938,560 shares during the period. Millennium Management LLC increased its position in shares of South Jersey Industries by 3,387.4% during the 1st quarter. Millennium Management LLC now owns 1,803,396 shares of the utilities provider’s stock valued at $40,721,000 after purchasing an additional 1,751,684 shares during the period. BlackRock Inc. grew its holdings in shares of South Jersey Industries by 3.8% in the 1st quarter. BlackRock Inc. now owns 16,436,017 shares of the utilities provider’s stock worth $371,123,000 after acquiring an additional 604,340 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of South Jersey Industries by 66.7% in the 1st quarter. Nuveen Asset Management LLC now owns 930,434 shares of the utilities provider’s stock worth $21,009,000 after acquiring an additional 372,194 shares during the last quarter. Institutional investors and hedge funds own 93.65% of the company’s stock.

NYSE SJI traded down $0.38 during mid-day trading on Tuesday, reaching $23.27. 3,779 shares of the stock were exchanged, compared to its average volume of 1,473,899. South Jersey Industries, Inc. has a one year low of $18.24 and a one year high of $29.24. The stock has a 50 day simple moving average of $25.17 and a 200-day simple moving average of $25.42. The stock has a market cap of $2.62 billion, a P/E ratio of 24.13, a P/E/G ratio of 2.68 and a beta of 0.84. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.89 and a quick ratio of 0.82.

South Jersey Industries (NYSE:SJI) last posted its earnings results on Wednesday, August 4th. The utilities provider reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $311.83 million during the quarter, compared to the consensus estimate of $260.37 million. South Jersey Industries had a net margin of 5.22% and a return on equity of 10.83%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. Sell-side analysts anticipate that South Jersey Industries, Inc. will post 1.62 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 4th. Shareholders of record on Friday, September 10th will be paid a $0.303 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend is Thursday, September 9th. South Jersey Industries’s payout ratio is 72.02%.

SJI has been the subject of a number of research reports. TheStreet cut South Jersey Industries from a “b” rating to a “c+” rating in a research report on Thursday, August 5th. Morgan Stanley reduced their target price on South Jersey Industries from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 20th. Mizuho upped their price objective on South Jersey Industries from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, May 27th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Wednesday, August 11th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.50.

About South Jersey Industries

South Jersey Industries, Inc is a holding company, which engages in the provision of energy-related products and services. It operates through the following segments: SJG Utility Operations; ETG Utility Operations; ELK Utility Operations, Wholesale Energy Operations; Retail Electric Operations; Appliance Service Operations; Midstream; and Corporate & Services.

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

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