Trading Report: Today, Vanguard Group Inc. invests in South Jersey Industries Inc. (SJI) Shares

Today, Vanguard Group Inc. invests in South Jersey Industries Inc. (SJI) Shares

Vanguard Group Inc. boosted its stake in shares of South Jersey Industries Inc. (NYSE:SJI) by 17.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,624,667 shares of the company’s stock after buying an additional 980,710 shares during the period. Vanguard Group Inc. owned 9.33% of South Jersey Industries worth $209,472,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its stake in South Jersey Industries by 18.1% in the second quarter. Principal Financial Group Inc. now owns 570,084 shares of the company’s stock valued at $18,027,000 after buying an additional 87,249 shares during the period. Prudential Financial Inc. boosted its stake in South Jersey Industries by 2.7% in the second quarter. Prudential Financial Inc. now owns 198,176 shares of the company’s stock valued at $6,266,000 after buying an additional 5,200 shares during the period. Teacher Retirement System of Texas boosted its stake in South Jersey Industries by 28.8% in the second quarter. Teacher Retirement System of Texas now owns 11,014 shares of the company’s stock valued at $348,000 after buying an additional 2,465 shares during the period. Wesbanco Bank Inc. acquired a new stake in South Jersey Industries during the second quarter valued at about $261,000. Finally, UBS Asset Management Americas Inc. boosted its stake in South Jersey Industries by 8.0% in the second quarter. UBS Asset Management Americas Inc. now owns 48,186 shares of the company’s stock valued at $1,524,000 after buying an additional 3,583 shares during the period. 69.65% of the stock is owned by hedge funds and other institutional investors.

South Jersey Industries Inc. (NYSE:SJI) opened at 28.34 on Monday. South Jersey Industries Inc. has a one year low of $21.24 and a one year high of $32.03. The company has a 50-day moving average price of $29.24 and a 200-day moving average price of $29.53. The firm has a market cap of $2.25 billion, a PE ratio of 20.00 and a beta of 0.70.

South Jersey Industries (NYSE:SJI) last posted its quarterly earnings results on Friday, August 5th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.02. The company earned $154.40 million during the quarter, compared to the consensus estimate of $177.83 million. South Jersey Industries had a net margin of 11.45% and a return on equity of 9.56%. During the same period in the prior year, the company posted $0.03 EPS. Equities analysts predict that South Jersey Industries Inc. will post $1.30 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Friday, September 9th were issued a $0.2638 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.06 annualized dividend and a dividend yield of 3.72%. South Jersey Industries’s dividend payout ratio is currently 72.92%.

SJI has been the topic of several analyst reports. Zacks Investment Research upgraded South Jersey Industries from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Janney Montgomery Scott cut South Jersey Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Finally, Morgan Stanley started coverage on 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $32.50.

About South Jersey Industries

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