Balyasny Asset Management LLC bought a new position in shares of South Jersey Industries, Inc. (NYSE:SJI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 32,739 shares of the utilities provider’s stock, valued at approximately $1,119,000.

Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of South Jersey Industries by 9.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,025 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 262 shares in the last quarter. First Mercantile Trust Co. lifted its position in shares of South Jersey Industries by 2.0% during the second quarter. First Mercantile Trust Co. now owns 3,060 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 60 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of South Jersey Industries during the second quarter worth approximately $129,000. Riverhead Capital Management LLC lifted its position in shares of South Jersey Industries by 81.6% during the second quarter. Riverhead Capital Management LLC now owns 5,992 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 2,692 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of South Jersey Industries by 2.4% during the second quarter. Teacher Retirement System of Texas now owns 6,349 shares of the utilities provider’s stock worth $217,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 69.48% of the company’s stock.

South Jersey Industries, Inc. (NYSE:SJI) opened at 35.29 on Friday. The company has a 50-day moving average of $35.31 and a 200 day moving average of $35.49. South Jersey Industries, Inc. has a one year low of $28.04 and a one year high of $38.40. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 32.77 and a beta of 0.75.

South Jersey Industries (NYSE:SJI) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. South Jersey Industries had a net margin of 7.02% and a return on equity of 7.71%. The business had revenue of $244.37 million for the quarter, compared to the consensus estimate of $179.63 million. During the same period last year, the company earned $0.12 EPS. On average, analysts anticipate that South Jersey Industries, Inc. will post $1.19 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Monday, September 11th were given a dividend of $0.273 per share. The ex-dividend date was Friday, September 8th. This represents a $1.09 annualized dividend and a yield of 3.09%. South Jersey Industries’s dividend payout ratio is presently 101.87%.

SJI has been the topic of a number of research reports. BidaskClub lowered shares of South Jersey Industries from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded shares of South Jersey Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Williams Capital upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and upped their target price for the stock from $34.00 to $36.00 in a research report on Monday, July 17th. Janney Montgomery Scott upgraded shares of South Jersey Industries from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 8th. They noted that the move was a valuation call. Finally, Morgan Stanley upped their target price on shares of South Jersey Industries from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. South Jersey Industries has an average rating of “Hold” and a consensus price target of $37.75.

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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 (Midstream).

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

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