State of Alaska Department of Revenue Boosts Holdings in South Jersey Industries, Inc. (NYSE:SJI)

State of Alaska Department of Revenue grew its position in shares of South Jersey Industries, Inc. (NYSE:SJI) by 5.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,023 shares of the utilities provider’s stock after purchasing an additional 4,261 shares during the period. State of Alaska Department of Revenue owned approximately 0.07% of South Jersey Industries worth $1,743,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors raised its stake in shares of South Jersey Industries by 303.2% during the first quarter. Captrust Financial Advisors now owns 1,496 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 1,125 shares during the period. Bbva USA purchased a new stake in shares of South Jersey Industries during the second quarter valued at approximately $59,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of South Jersey Industries during the second quarter valued at approximately $150,000. Fifth Third Bancorp raised its stake in shares of South Jersey Industries by 462.6% during the second quarter. Fifth Third Bancorp now owns 7,876 shares of the utilities provider’s stock valued at $204,000 after purchasing an additional 6,476 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of South Jersey Industries during the second quarter valued at approximately $220,000. Institutional investors own 93.74% of the company’s stock.

Shares of NYSE SJI opened at $24.65 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.70 and a debt-to-equity ratio of 1.74. The firm’s 50-day moving average price is $22.84 and its two-hundred day moving average price is $24.73. South Jersey Industries, Inc. has a 52-week low of $20.48 and a 52-week high of $29.24. The stock has a market capitalization of $2.77 billion, a P/E ratio of 29.00, a P/E/G ratio of 2.60 and a beta of 0.90.

South Jersey Industries (NYSE:SJI) last issued its earnings results on Wednesday, November 3rd. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.02. South Jersey Industries had a net margin of 4.06% and a return on equity of 9.80%. The firm had revenue of $365.63 million for the quarter, compared to analysts’ expectations of $286.98 million. During the same quarter last year, the company posted ($0.06) earnings per share. As a group, equities research analysts expect that South Jersey Industries, Inc. will post 1.62 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 29th. Shareholders of record on Friday, December 10th will be issued a $0.31 dividend. The ex-dividend date is Thursday, December 9th. This represents a $1.24 dividend on an annualized basis and a yield of 5.03%. This is a boost from South Jersey Industries’s previous quarterly dividend of $0.30. South Jersey Industries’s dividend payout ratio (DPR) is currently 142.35%.

A number of brokerages recently issued reports on SJI. TheStreet lowered shares of South Jersey Industries from a “b” rating to a “c+” rating in a research note on Thursday, August 5th. Wells Fargo & Company upgraded shares of South Jersey Industries from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $27.00 to $24.00 in a research note on Monday, October 4th. Maxim Group restated a “buy” rating and issued a $31.00 price target on shares of South Jersey Industries in a research note on Friday, November 5th. Zacks Investment Research upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Wednesday, August 11th. Finally, Morgan Stanley dropped their price target on shares of South Jersey Industries from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Friday, September 17th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $26.50.

South Jersey Industries Company Profile

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.

Read More: What sectors are represented in the Hang Seng index?

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

Receive News & Ratings for South Jersey Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for South Jersey Industries and related companies with MarketBeat.com's FREE daily email newsletter.