South Jersey Industries, Inc. (NYSE:SJI) Announces Quarterly Dividend of $0.31

South Jersey Industries, Inc. (NYSE:SJIGet Rating) announced a quarterly dividend on Wednesday, May 4th, Zacks reports. Stockholders of record on Friday, June 10th will be paid a dividend of 0.31 per share by the utilities provider on Tuesday, July 5th. This represents a $1.24 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Thursday, June 9th.

South Jersey Industries has raised its dividend by an average of 2.6% annually over the last three years and has increased its dividend annually for the last 23 consecutive years. South Jersey Industries has a dividend payout ratio of 68.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect South Jersey Industries to earn $1.79 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 69.3%.

Shares of SJI opened at $34.18 on Friday. The stock has a market capitalization of $4.18 billion, a PE ratio of 19.71 and a beta of 0.71. South Jersey Industries has a 1 year low of $20.75 and a 1 year high of $35.32. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.60 and a current ratio of 0.67. The company’s 50-day simple moving average is $34.40 and its 200-day simple moving average is $28.03.

South Jersey Industries (NYSE:SJIGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.12. The business had revenue of $824.58 million for the quarter, compared to analysts’ expectations of $689.67 million. South Jersey Industries had a net margin of 4.42% and a return on equity of 10.39%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. On average, sell-side analysts predict that South Jersey Industries will post 1.69 earnings per share for the current year.

SJI has been the topic of several analyst reports. StockNews.com initiated coverage on shares of South Jersey Industries in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Maxim Group lowered shares of South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Friday, February 25th. Bank of America lowered shares of South Jersey Industries from a “buy” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Thursday, February 17th. Zacks Investment Research upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Thursday, March 24th. Finally, Guggenheim lowered shares of South Jersey Industries from a “buy” rating to a “neutral” rating in a research note on Thursday, January 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.00.

Several institutional investors and hedge funds have recently made changes to their positions in SJI. OLD Mission Capital LLC purchased a new position in shares of South Jersey Industries during the third quarter worth approximately $892,000. Royal Bank of Canada grew its position in South Jersey Industries by 109.6% in the 3rd quarter. Royal Bank of Canada now owns 28,192 shares of the utilities provider’s stock valued at $598,000 after buying an additional 14,741 shares during the last quarter. LPL Financial LLC grew its position in South Jersey Industries by 24.4% in the 3rd quarter. LPL Financial LLC now owns 19,705 shares of the utilities provider’s stock valued at $419,000 after buying an additional 3,863 shares during the last quarter. Janus Henderson Group PLC purchased a new position in South Jersey Industries in the 3rd quarter valued at $217,000. Finally, Alliancebernstein L.P. grew its position in South Jersey Industries by 13.6% in the 4th quarter. Alliancebernstein L.P. now owns 152,306 shares of the utilities provider’s stock valued at $3,978,000 after buying an additional 18,249 shares during the last quarter. Institutional investors and hedge funds own 84.30% of the company’s stock.

About South Jersey Industries (Get Rating)

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 purchased directly from producers or suppliers to customers.

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Dividend History for South Jersey Industries (NYSE:SJI)

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