OLD Republic International Corp maintained its position in shares of South Jersey Industries Inc. (NYSE:SJI) during the second quarter, Holdings Channel reports. The fund owned 485,000 shares of the company’s stock at the end of the second quarter. OLD Republic International Corp’s holdings in South Jersey Industries were worth $15,336,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SJI. Duff & Phelps Investment Management Co. purchased a new position in shares of South Jersey Industries during the second quarter valued at approximately $49,327,000. Deprince Race & Zollo Inc. purchased a new position in shares of South Jersey Industries during the second quarter valued at approximately $20,293,000. New Amsterdam Partners LLC NY purchased a new position in shares of South Jersey Industries during the second quarter valued at approximately $4,881,000. Renaissance Technologies LLC increased its position in shares of South Jersey Industries by 41.6% in the first quarter. Renaissance Technologies LLC now owns 429,800 shares of the company’s stock valued at $12,228,000 after buying an additional 126,300 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of South Jersey Industries by 20.6% in the first quarter. Wellington Management Group LLP now owns 644,689 shares of the company’s stock valued at $18,342,000 after buying an additional 110,018 shares during the period. Hedge funds and other institutional investors own 69.65% of the company’s stock.
South Jersey Industries Inc. (NYSE:SJI) traded down 0.07% during mid-day trading on Friday, reaching $28.83. 171,823 shares of the company’s stock traded hands. South Jersey Industries Inc. has a 1-year low of $21.24 and a 1-year high of $32.03. The firm has a 50 day moving average of $28.91 and a 200 day moving average of $29.58. The firm has a market cap of $2.29 billion, a PE ratio of 20.35 and a beta of 0.70.
South Jersey Industries (NYSE:SJI) last announced its earnings results on Friday, August 5th. The company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. South Jersey Industries had a return on equity of 9.56% and a net margin of 11.45%. The business had revenue of $154.40 million for the quarter, compared to analyst estimates of $177.83 million. During the same quarter in the previous year, the company posted $0.03 EPS. Analysts forecast that South Jersey Industries Inc. will post $1.30 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Friday, September 9th were issued a dividend of $0.2638 per share. This represents a $1.06 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Wednesday, September 7th. South Jersey Industries’s payout ratio is 72.92%.
SJI has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of South Jersey Industries from a “hold” rating to a “sell” rating in a report on Wednesday, October 12th. Morgan Stanley initiated coverage on shares of South Jersey Industries in a report on Thursday, September 8th. They issued an “equal weight” rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $32.50.
South Jersey Industries Company Profile
South Jersey Industries, Inc (SJI) is an energy services holding company. The Company provides a range of energy-related products and services, primarily through its subsidiaries. Its subsidiaries include South Jersey Gas Company (SJG), South Jersey Energy Company (SJE), South Jersey Resources Group, LLC (SJRG), South Jersey Exploration, LLC (SJEX), Marina Energy, LLC (Marina), South Jersey Energy Service Plus, LLC (SJESP) and SJI Midstream, LLC.