Credit Suisse AG Sells 19,671 Shares of South Jersey Industries, Inc. (SJI)

Credit Suisse AG cut its position in shares of South Jersey Industries, Inc. (NYSE:SJI) by 23.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,681 shares of the utilities provider’s stock after selling 19,671 shares during the period. Credit Suisse AG owned approximately 0.08% of South Jersey Industries worth $2,306,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. First Mercantile Trust Co. increased its stake in South Jersey Industries by 2.7% in the first quarter. First Mercantile Trust Co. now owns 3,000 shares of the utilities provider’s stock worth $107,000 after buying an additional 80 shares during the last quarter. Bank of Montreal Can increased its stake in South Jersey Industries by 180.8% in the first quarter. Bank of Montreal Can now owns 3,370 shares of the utilities provider’s stock worth $120,000 after buying an additional 2,170 shares during the last quarter. LS Investment Advisors LLC increased its stake in South Jersey Industries by 52.3% in the first quarter. LS Investment Advisors LLC now owns 4,548 shares of the utilities provider’s stock worth $162,000 after buying an additional 1,561 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in South Jersey Industries during the first quarter worth approximately $226,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in South Jersey Industries during the first quarter worth approximately $228,000. Institutional investors own 69.51% of the company’s stock.

South Jersey Industries, Inc. (NYSE SJI) traded down 0.394% during mid-day trading on Monday, hitting $34.155. 23,918 shares of the stock traded hands. The firm’s 50-day moving average is $34.37 and its 200-day moving average is $34.89. South Jersey Industries, Inc. has a 12-month low of $27.51 and a 12-month high of $38.40. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 30.306 and a beta of 0.77.

South Jersey Industries (NYSE:SJI) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $244.37 million during the quarter, compared to analyst estimates of $179.63 million. South Jersey Industries had a net margin of 7.02% and a return on equity of 7.70%. During the same quarter in the previous year, the business posted $0.12 earnings per share. Equities research analysts expect that South Jersey Industries, Inc. will post $1.19 EPS for the current year.

A number of analysts have commented on SJI shares. Williams Capital upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and increased their price objective for the company from $34.00 to $36.00 in a report on Monday, July 17th. Zacks Investment Research upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Tuesday, May 2nd. Finally, BidaskClub downgraded shares of South Jersey Industries from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.50.

South Jersey Industries Company Profile

South Jersey Industries, Inc (SJI) is an energy services holding company. The Company provides a range of energy-related products and services, primarily through its subsidiaries. Its subsidiaries include South Jersey Gas Company (SJG), South Jersey Energy Company (SJE), South Jersey Resources Group, LLC (SJRG), South Jersey Exploration, LLC (SJEX), Marina Energy, LLC (Marina), South Jersey Energy Service Plus, LLC (SJESP) and SJI Midstream, LLC (Midstream).