5 Utilities Stocks with Over 3% Dividend Yield

2. South Jersey Industries, Inc. (NYSE: SJI)

Number of Hedge Fund Holders: 32
Dividend Yield: 4.8%

South Jersey Industries, Inc. (NYSE: SJI) is a provider of energy-related products and services through its subsidiaries and ranks 2nd on our list of utilities stocks with over 3% yield. The company purchases, transmits, and sells natural gas.

This May, Stephen Byrd, an analyst at Morgan Stanley, upgraded shares of South Jersey Industries, Inc. (NYSE: SJI) from Underweight to Equal Weight. At the same time, Byrd also raised his price target on South Jersey Industries, Inc. (NYSE: SJI) shares from $23 to $26.

In the second quarter of 2021, South Jersey Industries, Inc. (NYSE: SJI) had an EPS of $0.02, beating estimates by $0.03. The company’s revenue was $311.83 million, up 19.95% year over year and beating estimates by $51.46 million. South Jersey Industries, Inc. (NYSE: SJI) has gained 8.49% in the past 6 months and 20.63% year to date.

By the end of the first quarter of 2021, 32 hedge funds out of the 866 tracked by Insider Monkey held stakes in South Jersey Industries, Inc. (NYSE: SJI) worth roughly $482 million. This is compared to 12 hedge funds in the previous quarter with a total stake value of approximately $78.2 million.