Heartland Advisors Inc. lowered its stake in South Jersey Industries Inc. (NYSE:SJI) by 25.0% during the third quarter, Holdings Channel reports. The firm owned 150,000 shares of the company’s stock after selling 50,000 shares during the period. Heartland Advisors Inc.’s holdings in South Jersey Industries were worth $4,433,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of SJI. Public Employees Retirement System of Ohio increased its position in South Jersey Industries by 3.2% in the second quarter. Public Employees Retirement System of Ohio now owns 4,054 shares of the company’s stock valued at $128,000 after buying an additional 127 shares during the period. NEXT Financial Group Inc increased its position in South Jersey Industries by 214.9% in the third quarter. NEXT Financial Group Inc now owns 4,330 shares of the company’s stock valued at $128,000 after buying an additional 2,955 shares during the period. Integrated Investment Consultants LLC increased its position in South Jersey Industries by 21.8% in the third quarter. Integrated Investment Consultants LLC now owns 5,260 shares of the company’s stock valued at $150,000 after buying an additional 942 shares during the period. Tower Research Capital LLC TRC bought a new position in South Jersey Industries during the second quarter valued at approximately $154,000. Finally, BlackRock Japan Co. Ltd bought a new position in South Jersey Industries during the second quarter valued at approximately $159,000. Institutional investors and hedge funds own 70.04% of the company’s stock.
South Jersey Industries Inc. (NYSE:SJI) traded up 1.58% during midday trading on Monday, hitting $33.37. The stock had a trading volume of 161,257 shares. The company has a market capitalization of $2.65 billion, a PE ratio of 19.99 and a beta of 0.58. South Jersey Industries Inc. has a 52 week low of $21.24 and a 52 week high of $33.41. The company’s 50-day moving average price is $29.70 and its 200 day moving average price is $29.99.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Friday, December 9th will be given a $0.273 dividend. This is an increase from South Jersey Industries’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, December 7th. This represents a $1.09 annualized dividend and a dividend yield of 3.32%. South Jersey Industries’s dividend payout ratio is presently 60.34%.
Several equities analysts recently commented on SJI shares. Morgan Stanley started coverage on South Jersey Industries in a research report on Thursday, September 8th. They set an “equal weight” rating and a $32.00 target price for the company. Zacks Investment Research upgraded South Jersey Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, Williams Capital downgraded South Jersey Industries from a “buy” rating to a “hold” rating and lifted their price objective for the company from $33.00 to $34.00 in a research report on Wednesday, November 23rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $32.80.
About South Jersey Industries
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.