South Jersey Industries, Inc. (NYSE:SJI) Brief Interest Update
South Jersey Industries, Inc. (NYSE: SJI – Get a rating) saw strong growth in short-term interest in May. As of May 15, there were short interests totaling 6,100,000 shares, a growth of 26.8% from the total of 4,810,000 shares as of April 30. Based on an average daily trading volume of 1,770,000 shares, the day-to-cover ratio is currently 3.4 days.
South Jersey Industries Stock traded at $0.25 during midday trading on Tuesday, reaching $34.85. 810,795 shares were traded, against an average volume of 1,510,619. The company’s fifty-day moving average is $34.28 and its 200-day moving average is $29.48. The company has a debt ratio of 1.45, a quick ratio of 0.81 and a current ratio of 0.84. South Jersey Industries has a 52-week low of $20.75 and a 52-week high of $35.32.
South Jersey Industries (NYSE: SJI – Get a rating) last released its quarterly results on Wednesday, May 4. The utility provider reported EPS of $1.08 for the quarter, missing analyst consensus estimates of $1.15 per ($0.07). The company posted revenue of $824.58 million in the quarter, versus a consensus estimate of $689.67 million. South Jersey Industries had a return on equity of 9.82% and a net margin of 4.14%. South Jersey Industries quarterly revenue increased 22.3% year over year. During the same period of the previous year, the company achieved EPS of $1.26. As a group, analysts expect South Jersey Industries to post earnings per share of 1.69 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 5. Shareholders of record on Friday, June 10 will receive a dividend of $0.31. This represents a dividend of $1.24 on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Thursday, June 9.
A number of brokerages have recently commented on SJI. Zacks Investment Research cut shares of South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Saturday. The Maxim Group cut shares of South Jersey Industries from a “buy” rating to a “hold” rating in a Friday, Feb. 25 research note. StockNews.com moved shares of South Jersey Industries from a “sell” rating to a “hold” rating in a Thursday, May 12, report. Finally, Bank of America downgraded shares of South Jersey Industries from a “buy” rating to a “neutral” rating and set a target price of $25.00 for the stock. in a report on Thursday, February 17. Seven equity research analysts gave the stock a hold rating. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $28.80.
Several large investors have recently changed their stake in the company. San Luis Wealth Advisors LLC bought a new stock position in South Jersey Industries during Q1 worth $26,000. CM Bidwell & Associates Ltd. bought a new stock position in South Jersey Industries during Q1 worth $42,000. Signaturefd LLC increased its holdings of South Jersey Industries stock by 49.3% in Q1. Signaturefd LLC now owns 1,302 shares of the utility provider valued at $45,000 after buying an additional 430 shares in the last quarter. Meeder Asset Management Inc. bought a new stock position in South Jersey Industries during Q1 worth $63,000. Finally, KBC Group NV bought a new position in shares of South Jersey Industries during the 4th quarter for a value of $72,000. 84.30% of the shares are currently held by hedge funds and other institutional investors.
About South Jersey Industries (Get a rating)
South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company is involved in the purchase, transport and sale of natural gas. It also sells wholesale natural gas and pipeline capacity to residential, commercial and industrial customers on the interstate pipeline system, as well as transports purchased natural gas directly from producers or suppliers to customers.
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