Recent Buy – SJI

A little late, but finally received notification of my purchase on February 29th.  This was purchased through the company sponsored DRIP as they currently offer a discounted price on reinvested dividends.  I debated last month when I purchased NJR so I figured a decision that difficult probably ought to be both.  SJI is a gas utility serving southern New Jersey.  A dividend contender, they are undergoing the permitting process for two natural gas pipelines – one a direct access to an electric company and the other a 20% stake in the PennEast pipeline.  Until approved, I would consider them a slightly higher risk than NJR.  New Jersey, as is most of New England, is currently highly dependent on heating oil which is why I consider their pipeline exposure a decent asset.

 

sjr

Ticker: SJI

Acquired: 2/29/2016

Cost basis: $26.0053 (YOC 4%)

Current Portfolio Status: Hold

Dividend Reinvestment: Y

Dividends paid quarterly in Jan, Apr, Jul, Oct

Shares held on account at Broadridge

South Jersey Industries, Inc., through its subsidiaries, provides energy related products and services. It engages in the purchase, transmission, and sale of natural gas. The company also sells natural gas and pipeline transportation capacity on a wholesale basis to residential, commercial, and industrial customers on the interstate pipeline system, as well as transports natural gas purchased directly from producers or suppliers to their customers. As of December 31, 2014, it had approximately 122.7 miles of mains in the transmission system and 6,339 miles of mains in the distribution system; and served 366,854 residential, commercial, and industrial customers in southern New Jersey. In addition, the company develops, owns, and operates energy projects, such as thermal facilities, combined heat and power facilities, landfill gas-fired electric production facilities, and solar projects that provide cooling, heating, and emergency power. Further, it markets natural gas storage, commodity, and transportation assets on a wholesale basis for energy marketers, electric and gas utilities, power plants, and natural gas producers in the mid-Atlantic, Appalachian, and southern regions of the United States. Additionally, the company acquires, transports, and markets natural gas and electricity to approximately 5,900 commercial and industrial customers, as well as markets total energy management services; owns oil, gas, and mineral rights in the Marcellus Shale region of Pennsylvania; and services residential and small commercial HVAC systems, and installs small commercial HVAC systems, as well as provides plumbing services and services appliances. South Jersey Industries, Inc. was founded in 1910 and is based in Folsom, New Jersey.

Reason for holding: 20% stake in PennEast pipeline (proposed), BL England pipeline (proposed)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s