Metropolitan Life Insurance Co NY lifted its holdings in South Jersey Industries Inc (NYSE:SJI) by 5.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,006 shares of the utilities provider’s stock after purchasing an additional 1,386 shares during the period. Metropolitan Life Insurance Co NY’s holdings in South Jersey Industries were worth $930,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in SJI. Metropolitan Life Insurance Co. NY lifted its stake in South Jersey Industries by 356.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 27,620 shares of the utilities provider’s stock worth $768,000 after acquiring an additional 21,571 shares during the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in South Jersey Industries in the fourth quarter worth approximately $687,000. Principal Financial Group Inc. lifted its stake in South Jersey Industries by 6.7% in the first quarter. Principal Financial Group Inc. now owns 748,550 shares of the utilities provider’s stock worth $24,006,000 after acquiring an additional 46,736 shares during the last quarter. First Trust Advisors LP lifted its stake in South Jersey Industries by 33.3% in the fourth quarter. First Trust Advisors LP now owns 950,529 shares of the utilities provider’s stock worth $26,425,000 after acquiring an additional 237,685 shares during the last quarter. Finally, Pennsylvania Trust Co purchased a new position in South Jersey Industries in the first quarter worth approximately $1,361,000. Hedge funds and other institutional investors own 82.94% of the company’s stock.
Shares of NYSE:SJI traded up $0.40 on Thursday, reaching $33.48. 271,267 shares of the company were exchanged, compared to its average volume of 612,709. The company has a current ratio of 0.43, a quick ratio of 0.41 and a debt-to-equity ratio of 1.40. South Jersey Industries Inc has a 1-year low of $26.06 and a 1-year high of $36.72. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 4.19 and a beta of 0.75. The stock’s 50-day simple moving average is $33.12.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Tuesday, September 10th will be given a $0.287 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.15 annualized dividend and a dividend yield of 3.43%. South Jersey Industries’s dividend payout ratio is presently 83.33%.
A number of research analysts recently issued reports on the stock. Maxim Group assumed coverage on shares of South Jersey Industries in a research note on Tuesday, April 16th. They issued a “buy” rating and a $40.00 price target for the company. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Monday, May 13th. TheStreet upgraded shares of South Jersey Industries from a “c+” rating to a “b-” rating in a research report on Tuesday, July 9th. Morgan Stanley set a $100.00 price objective on shares of Cimarex Energy and gave the stock a “buy” rating in a research report on Thursday, May 16th. Finally, Guggenheim upgraded shares of South Jersey Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $32.00 to $35.00 in a research report on Thursday, June 13th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $34.50.
South Jersey Industries Company Profile
South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company engages in the purchase, transmission, and sale of natural gas. It also sells natural gas and pipeline transportation capacity on a wholesale basis to residential, commercial, and industrial customers on the interstate pipeline system, as well as transports natural gas, which is purchased directly from producers or suppliers to their customers.
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