State of Alaska Department of Revenue grew its stake in South Jersey Industries Inc (NYSE:SJI) by 126.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,247 shares of the utilities provider’s stock after buying an additional 39,796 shares during the period. State of Alaska Department of Revenue owned approximately 0.08% of South Jersey Industries worth $2,344,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SJI. BlackRock Inc. lifted its position in shares of South Jersey Industries by 1.0% during the 2nd quarter. BlackRock Inc. now owns 13,913,601 shares of the utilities provider’s stock worth $469,305,000 after purchasing an additional 140,843 shares during the last quarter. Vanguard Group Inc. increased its stake in South Jersey Industries by 0.8% during the second quarter. Vanguard Group Inc. now owns 10,297,391 shares of the utilities provider’s stock valued at $347,331,000 after acquiring an additional 85,198 shares during the period. FMR LLC increased its stake in South Jersey Industries by 28.4% during the first quarter. FMR LLC now owns 4,543,958 shares of the utilities provider’s stock valued at $145,724,000 after acquiring an additional 1,003,949 shares during the period. Macquarie Group Ltd. increased its stake in South Jersey Industries by 6.3% during the second quarter. Macquarie Group Ltd. now owns 3,100,798 shares of the utilities provider’s stock valued at $104,590,000 after acquiring an additional 183,830 shares during the period. Finally, Invesco Ltd. increased its stake in South Jersey Industries by 107.0% during the second quarter. Invesco Ltd. now owns 2,498,685 shares of the utilities provider’s stock valued at $84,280,000 after acquiring an additional 1,291,495 shares during the period. 81.88% of the stock is owned by institutional investors.

Shares of SJI stock traded up $0.04 during trading hours on Wednesday, hitting $32.35. The company had a trading volume of 3,447 shares, compared to its average volume of 574,752. South Jersey Industries Inc has a 12 month low of $26.06 and a 12 month high of $36.72. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 3.46 and a beta of 0.69. The firm’s fifty day moving average is $32.30 and its 200 day moving average is $32.49. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.23 and a current ratio of 0.26.

South Jersey Industries (NYSE:SJI) last announced its earnings results on Wednesday, August 7th. The utilities provider reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.09). The business had revenue of $266.93 million during the quarter, compared to analyst estimates of $254.12 million. South Jersey Industries had a return on equity of 7.10% and a net margin of 7.97%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. On average, sell-side analysts expect that South Jersey Industries Inc will post 1.1 EPS for the current fiscal year.

Several equities analysts recently issued reports on the company. Maxim Group set a $40.00 price target on South Jersey Industries and gave the company a “buy” rating in a research note on Friday, September 13th. Guggenheim upgraded South Jersey Industries from a “neutral” rating to a “buy” rating and boosted their price target for the company from $32.00 to $35.00 in a research note on Thursday, June 13th. Morgan Stanley set a $30.00 price target on South Jersey Industries and gave the company a “hold” rating in a research note on Friday, August 16th. Zacks Investment Research lowered South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lowered South Jersey Industries from an “overweight” rating to a “neutral” rating and set a $32.00 price target on the stock. in a research note on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $34.43.

About South Jersey Industries

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

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