South Jersey Industries Inc (NYSE:SJI) declared a quarterly dividend on Tuesday, January 23rd, Wall Street Journal reports. Stockholders of record on Monday, March 19th will be paid a dividend of 0.28 per share by the utilities provider on Tuesday, April 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Friday, March 16th.
South Jersey Industries has increased its dividend by an average of 4.6% annually over the last three years. South Jersey Industries has a dividend payout ratio of 96.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect South Jersey Industries to earn $1.68 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 66.7%.
Shares of NYSE:SJI traded down $0.35 during midday trading on Monday, reaching $27.81. 458,482 shares of the company’s stock traded hands, compared to its average volume of 571,297. South Jersey Industries has a 1 year low of $25.96 and a 1 year high of $38.40. The firm has a market capitalization of $2,241.40, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 1.79 and a beta of 0.59. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.50 and a quick ratio of 0.44.
South Jersey Industries (NYSE:SJI) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.08. South Jersey Industries had a positive return on equity of 7.84% and a negative net margin of 0.28%. The firm had revenue of $345.74 million for the quarter, compared to analyst estimates of $336.19 million. During the same quarter last year, the firm posted $0.42 EPS. sell-side analysts expect that South Jersey Industries will post 1.57 earnings per share for the current year.
SJI has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on South Jersey Industries from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 13th. Guggenheim restated a “hold” rating and issued a $32.00 price objective on shares of South Jersey Industries in a report on Wednesday, January 3rd. Sidoti lowered South Jersey Industries from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a report on Monday, January 8th. TheStreet lowered South Jersey Industries from a “b-” rating to a “c+” rating in a report on Wednesday, January 10th. Finally, Hilliard Lyons lowered South Jersey Industries from a “buy” rating to a “hold” rating in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $32.33.
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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).
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