CIBC Asset Management Inc Buys 4,026 Shares of South Jersey Industries Inc (SJI)

CIBC Asset Management Inc increased its stake in shares of South Jersey Industries Inc (NYSE:SJI) by 57.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 11,077 shares of the utilities provider’s stock after acquiring an additional 4,026 shares during the period. CIBC Asset Management Inc’s holdings in South Jersey Industries were worth $308,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of South Jersey Industries by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 1,476,797 shares of the utilities provider’s stock worth $49,428,000 after buying an additional 53,211 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of South Jersey Industries by 2.8% in the third quarter. American Century Companies Inc. now owns 124,142 shares of the utilities provider’s stock worth $4,378,000 after buying an additional 3,340 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of South Jersey Industries by 104.5% in the third quarter. JPMorgan Chase & Co. now owns 74,357 shares of the utilities provider’s stock worth $2,623,000 after buying an additional 37,993 shares in the last quarter. Swiss National Bank lifted its stake in shares of South Jersey Industries by 7.7% in the third quarter. Swiss National Bank now owns 149,109 shares of the utilities provider’s stock worth $5,259,000 after buying an additional 10,600 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of South Jersey Industries by 12.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,413 shares of the utilities provider’s stock worth $720,000 after buying an additional 2,327 shares in the last quarter. 84.94% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, November 20th. Zacks Investment Research upgraded shares of South Jersey Industries from a “strong sell” rating to a “hold” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. South Jersey Industries currently has a consensus rating of “Hold” and a consensus price target of $33.83.

Shares of South Jersey Industries stock opened at $30.67 on Friday. The company has a market cap of $2.83 billion, a P/E ratio of 24.93, a P/E/G ratio of 4.72 and a beta of 0.76. South Jersey Industries Inc has a twelve month low of $26.06 and a twelve month high of $36.72. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.38 and a current ratio of 0.42.

South Jersey Industries (NYSE:SJI) last issued its quarterly earnings data on Wednesday, February 27th. The utilities provider reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.02). South Jersey Industries had a net margin of 1.08% and a return on equity of 10.13%. On average, research analysts anticipate that South Jersey Industries Inc will post 1.53 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 2nd. Investors of record on Monday, March 18th will be given a dividend of $0.2875 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $1.15 dividend on an annualized basis and a yield of 3.75%. South Jersey Industries’s dividend payout ratio (DPR) is 93.50%.

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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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