South Jersey Industries, Inc. (NYSE:SJI) announced a quarterly dividend on Tuesday, November 21st, Wall Street Journal reports. Stockholders of record on Monday, December 11th will be paid 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 3.31%. The ex-dividend date of this dividend is Friday, December 8th. This is a positive change from South Jersey Industries’s previous quarterly dividend of $0.27.
South Jersey Industries has increased its dividend payment by an average of 5.7% annually 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 decline. 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 (SJI) opened at $33.82 on Friday. South Jersey Industries has a twelve month low of $31.39 and a twelve month high of $38.40. The stock has a market capitalization of $2,690.35, a PE ratio of 29.41, a P/E/G ratio of 3.81 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.
Several research firms recently issued reports on SJI. BidaskClub upgraded South Jersey Industries from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. Morgan Stanley upped their target price on South Jersey Industries from $38.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Janney Montgomery Scott upgraded South Jersey Industries from a “neutral” rating to a “buy” rating in a report on Tuesday, August 8th. They noted that the move was a valuation call. Zacks Investment Research lowered South Jersey Industries from a “hold” rating to a “sell” rating in a report on Wednesday, November 8th. Finally, J P Morgan Chase & Co upped their target price on South Jersey Industries from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $38.00.
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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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