South Jersey Industries, Inc. (NYSE:SJI) Sees Large Decrease in Short Interest

Posted by on Jun 17th, 2022

South Jersey Industries, Inc. (NYSE:SJI – Get Rating) saw a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 5,090,000 shares, a decrease of 16.6% from the May 15th total of 6,100,000 shares. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is presently 3.8 days.

Several equities analysts have recently commented on SJI shares. Maxim Group lowered South Jersey Industries from a “buy” rating to a “hold” rating in a report on Friday, February 25th. StockNews.com raised South Jersey Industries from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. Finally, Bank of America lowered South Jersey Industries from a “buy” rating to a “neutral” rating and set a $25.00 target price for the company. in a report on Thursday, February 17th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.25.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. San Luis Wealth Advisors LLC acquired a new stake in South Jersey Industries in the first quarter worth approximately $26,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of South Jersey Industries during the 1st quarter valued at $42,000. Signaturefd LLC lifted its position in shares of South Jersey Industries by 49.3% during the 1st quarter. Signaturefd LLC now owns 1,302 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 430 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of South Jersey Industries during the 1st quarter valued at $63,000. Finally, KBC Group NV acquired a new stake in shares of South Jersey Industries during the 4th quarter valued at $72,000. Hedge funds and other institutional investors own 84.30% of the company’s stock.

SJI traded down $0.07 during trading on Friday, reaching $33.76. The stock had a trading volume of 19,020 shares, compared to its average volume of 825,261. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 19.53 and a beta of 0.71. The company has a quick ratio of 0.81, a current ratio of 0.84 and a debt-to-equity ratio of 1.45. South Jersey Industries has a 1-year low of $20.75 and a 1-year high of $35.32. The stock has a 50 day moving average of $34.25 and a two-hundred day moving average of $30.26.

South Jersey Industries (NYSE:SJI – Get Rating) last released its earnings results on Wednesday, May 4th. The utilities provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.07). The firm had revenue of $824.58 million during the quarter, compared to analyst estimates of $689.67 million. South Jersey Industries had a return on equity of 9.82% and a net margin of 4.14%. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the company earned $1.26 earnings per share. On average, research analysts forecast that South Jersey Industries will post 1.69 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Shareholders of record on Friday, June 10th will be given a $0.31 dividend. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $1.24 dividend on an annualized basis and a yield of 3.67%.

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.

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