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Steven Scruggs Comments on South Jersey Industries

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Nov 17, 2021
  • A top detractor.
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South Jersey Industries (

SJI, Financial) shares fell due in part to the cancellation of the PennEast pipeline. Thepipeline, which SJI was to be a partner in, was slated to deliver 1.1 billion cubic feet per day of natural gas from the Marcellus shale region to New Jersey and Pennsylvania. While the regulatory environment in New Jersey has historically been favorable, the state’s role in preventing the PennEast pipeline’s construction is causing us to reassess the regulatory environment there.10 The company currently pays a 5.5% dividend yield and is expected to continue its long history of slow but steady normalized earnings growth.


Steven Scruggs (Trades, Portfolio)' FPA Queens Road Small Cap Value Fund third-quarter 2021 letter.

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