South Jersey Industries (NYSE:SJI) Issues Quarterly Earnings Results, Beats Expectations By $0.12 EPS

South Jersey Industries (NYSE:SJIGet Rating) issued its earnings results on Wednesday. The utilities provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.12, MarketWatch Earnings reports. The firm 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 firm’s revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 earnings per share.

Shares of SJI opened at $34.18 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.60 and a debt-to-equity ratio of 1.59. The firm has a market cap of $4.18 billion, a PE ratio of 19.71 and a beta of 0.71. The company’s 50 day simple moving average is $34.40 and its 200-day simple moving average is $28.03. South Jersey Industries has a 12-month low of $20.75 and a 12-month high of $35.32.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 5th. Stockholders of record on Wednesday, March 16th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, March 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.63%.

Several institutional investors and hedge funds have recently made changes to their positions in SJI. BlackRock Inc. grew its position in shares of South Jersey Industries by 11.7% during the fourth quarter. BlackRock Inc. now owns 20,005,336 shares of the utilities provider’s stock worth $522,540,000 after acquiring an additional 2,103,134 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of South Jersey Industries by 296.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,569,745 shares of the utilities provider’s stock worth $41,001,000 after acquiring an additional 1,173,695 shares during the last quarter. Millennium Management LLC grew its position in shares of South Jersey Industries by 148.8% during the fourth quarter. Millennium Management LLC now owns 807,669 shares of the utilities provider’s stock worth $21,096,000 after acquiring an additional 483,014 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in shares of South Jersey Industries by 29.8% during the fourth quarter. Parametric Portfolio Associates LLC now owns 337,757 shares of the utilities provider’s stock worth $8,822,000 after acquiring an additional 77,618 shares during the last quarter. Finally, OLD Mission Capital LLC purchased a new position in shares of South Jersey Industries during the third quarter worth approximately $892,000. Institutional investors and hedge funds own 84.30% of the company’s stock.

SJI has been the topic of several analyst reports. Guggenheim cut shares of South Jersey Industries from a “buy” rating to a “neutral” rating in a report on Thursday, January 20th. 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. 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. Finally, StockNews.com initiated coverage on shares of South Jersey Industries in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, South Jersey Industries has a consensus rating of “Hold” and a consensus price target of $28.00.

South Jersey Industries Company Profile (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.

See Also

Earnings History for South Jersey Industries (NYSE:SJI)

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