Prospera Financial Services Inc purchased a new stake in South Jersey Industries, Inc. (NYSE:SJI – Get Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,716 shares of the utilities provider’s stock, valued at approximately $197,000.
A number of other institutional investors and hedge funds have also made changes to their positions in SJI. Geode Capital Management LLC increased its position in shares of South Jersey Industries by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 1,836,199 shares of the utilities provider’s stock worth $47,961,000 after purchasing an additional 13,854 shares in the last quarter. Westwood Holdings Group Inc. increased its position in shares of South Jersey Industries by 49.1% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,578,656 shares of the utilities provider’s stock worth $41,234,000 after purchasing an additional 519,649 shares in the last quarter. American Century Companies Inc. increased its position in shares of South Jersey Industries by 15.5% during the fourth quarter. American Century Companies Inc. now owns 1,574,853 shares of the utilities provider’s stock worth $41,135,000 after purchasing an additional 211,127 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in South Jersey Industries by 296.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,569,745 shares of the utilities provider’s stock valued at $41,001,000 after buying an additional 1,173,695 shares in the last quarter. Finally, Segantii Capital Management Ltd purchased a new stake in South Jersey Industries in the 1st quarter valued at $50,098,000. 84.30% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, StockNews.com upgraded South Jersey Industries from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.25.
South Jersey Industries Stock Performance
South Jersey Industries (NYSE:SJI – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The utilities provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.07). South Jersey Industries had a net margin of 4.14% and a return on equity of 9.82%. The business had revenue of $824.58 million during the quarter, compared to analyst estimates of $689.67 million. During the same period last year, the company earned $1.26 EPS. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. Equities analysts forecast that South Jersey Industries, Inc. will post 1.7 earnings per share for the current year.
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 purchased directly from producers or suppliers to customers.
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