South Jersey Industries, Inc. (NYSE:SJI) declared a quarterly dividend on Tuesday, November 21st, Wall Street Journal reports. Stockholders of record on Monday, December 11th will be given a dividend of 0.28 per share by the utilities provider on Wednesday, December 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Friday, December 8th. This is an increase from South Jersey Industries’s previous quarterly dividend of $0.27.
South Jersey Industries has raised its dividend by an average of 5.7% per year over the last three years. South Jersey Industries has a payout ratio of 94.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect South Jersey Industries to earn $1.46 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 76.7%.
Shares of South Jersey Industries (NYSE:SJI) opened at $33.25 on Thursday. The stock has a market cap of $2,648.19, a PE ratio of 28.95, a P/E/G ratio of 3.75 and a beta of 0.71. The company has a current ratio of 0.47, a quick ratio of 0.38 and a debt-to-equity ratio of 0.97. South Jersey Industries has a 1 year low of $31.39 and a 1 year high of $38.40.
South Jersey Industries (NYSE:SJI) last issued its quarterly earnings results on Thursday, November 2nd. The utilities provider reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.04). South Jersey Industries had a return on equity of 7.16% and a net margin of 3.13%. The business had revenue of $227.13 million for the quarter, compared to analyst estimates of $222.92 million. analysts expect that South Jersey Industries will post 1.18 earnings per share for the current fiscal year.
Several research firms recently weighed in on SJI. Janney Montgomery Scott reissued a “buy” rating on shares of South Jersey Industries in a research note on Tuesday, October 17th. BidaskClub raised shares of South Jersey Industries from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th. Morgan Stanley lifted their price objective on shares of South Jersey Industries from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Williams Capital lowered shares of South Jersey Industries from a “buy” rating to a “hold” rating and set a $36.00 price objective on the stock. in a research note on Monday, September 18th. Finally, Zacks Investment Research raised shares of South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $38.00.
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About South Jersey Industries
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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