Welcome to our dedicated page for SJI news (Ticker: SJI), a resource for investors and traders seeking the latest updates and insights on SJI stock.
SJI is a prominent energy services holding company based in Folsom, New Jersey, dedicated to delivering essential energy services through its three primary subsidiaries. SJI Utilities, the regulated natural gas utility arm of the company, ensures the provision of safe, reliable, and affordable natural gas to approximately 700,000 customers in New Jersey through South Jersey Gas and Elizabethtown Gas.
Beyond its utility operations, SJI's non-utility businesses, grouped under South Jersey Energy Solutions, focus on promoting efficiency, clean technology, and renewable energy. This includes customized wholesale commodity marketing, fuel management services, and the development, ownership, and operation of on-site energy production facilities. SJI Midstream manages the company's interests in the PennEast Pipeline Project, further enhancing its strategic infrastructure capabilities.
With a clear commitment to advancing clean energy, SJI has embarked on several innovative projects. A notable recent achievement is the partnership with Captona and RNG Energy Solutions to develop the Linden Renewable Energy Project, one of the largest food waste-to-renewable natural gas (RNG) projects in the United States. This project aims to convert organic waste into pipeline-quality RNG, thereby contributing significantly to New Jersey's decarbonization goals and providing a sustainable energy source for Elizabethtown Gas customers.
The Linden project, expected to be completed by Q1 2026, will process up to 1,475 tons of waste daily, producing energy equivalent to 30,200 gallons of gasoline per day. This effort not only supports waste management but also aligns with stringent organic waste diversion regulations in the NYC and NJ regions.
SJI continues to collaborate with top-tier partners like Phoenix Power Group and prominent waste haulers to ensure the project's success. The City of Linden, NJ, has shown strong support, anticipating economic benefits and hundreds of new construction jobs.
Overall, SJI's dedication to clean energy and sustainability positions it as a significant player in the energy sector, continually driving forward with innovative solutions and robust partnerships.
On January 26, 2023, it was announced that Northern Oil and Gas (NYSE: NOG) will replace South Jersey Industries (NYSE: SJI) in the S&P SmallCap 600 index, effective before the market opens on February 2, 2023. This change comes as Infrastructure Investments Fund is acquiring South Jersey Industries, with the deal expected to finalize shortly, pending conditions. The addition of NOG to the index highlights its growing prominence in the energy sector.
On January 25, 2023, South Jersey Industries (SJI) announced that the New Jersey Board of Public Utilities approved the Infrastructure Investments Fund's acquisition of the company. This transaction, set to close on February 1, 2023, includes commitments of $75 million in customer benefits for Elizabethtown Gas and South Jersey Gas customers, $5 million for community support, and $2.5 million for New Jersey's low-income customers. Post-acquisition, SJI's shares will cease trading on the NYSE, and a 'stub period' dividend of $0.1499 per share is expected to be declared before closing. The deal represents significant investment in local communities.
SJI (NYSE:SJI) has announced that NJBIZ has named Donna Schempp, President and COO of SJI Renewable Energy Ventures, as its 2022 Executive of the Year. This recognition highlights her leadership in advancing SJI's clean energy initiatives, particularly their sustainability plan aiming for carbon-neutral operations by 2040. Under her guidance, SJI REV oversees the development of renewable natural gas facilities on up to 40 dairy farms, expected to produce enough RNG to offset nearly 25 million gallons of gasoline annually, equivalent to the consumption of about 50,000 vehicles.
SJI has announced a quarterly dividend of $0.3100 per share for Q4 2022, marking its 71st consecutive year of dividend payments. This dividend is payable on December 27, 2022, to shareholders on record as of December 19, 2022. The company, based in Folsom, NJ, operates through two main subsidiaries: SJI Utilities and SJI Energy Enterprises, providing energy services to over 700,000 customers in New Jersey, focusing on both utility and clean energy operations.
SJI reported its Q3 2022 results, showing GAAP earnings of $(0.31) per diluted share, down from $(0.23) in 2021. Economic earnings were $(0.18) per share, slightly up from $(0.17) in 2021. YTD 2022 GAAP earnings rose to $0.59 per share from $0.06 in 2021, driven by increased profitability across operations. The acquisition by IIF is proceeding on track, pending regulatory approvals. Key highlights include customer growth, infrastructure investment programs totaling $200 million, and ongoing regulatory initiatives.
SJI (NYSE:SJI) announced that Marissa Travaline, Vice President of Customer Experience, has been honored as one of the 2022 “Best 50 Women in Business” by NJBIZ. This recognition highlights her significant impact on the business landscape in New Jersey, where she leads customer experience operations across SJI's subsidiaries, serving over 700,000 customers. Travaline's career at SJI has spanned various roles since 2005, showcasing her leadership in enhancing customer relations and community involvement.
SJI reported its Q2 2022 earnings, with GAAP losses of $(18.7) million, improving from $(96.7) million year-over-year. Economic earnings increased to $6.3 million from $2.0 million. YTD GAAP earnings rose to $110.7 million from $32.1 million in 2021, driven by utility growth and successful financing. The acquisition by Infrastructure Investment Fund remains on track for Q4 2022. Regulatory initiatives, including a $200 million Infrastructure Investment Program, are advancing. The Board declared a $0.3100 quarterly dividend for shareholders, marking 71 consecutive years of dividends.
Captona and South Jersey Industries (NYSE: SJI) have expanded their Catamaran Renewables joint venture with the acquisition of a 5.66 MW Solar and 5.2 MWh Storage facility in Agawam, Massachusetts. This strategic acquisition enhances Catamaran's commitment to decarbonization and bolsters its portfolio, which previously included Solar and Fuel Cell assets. The facility qualifies for the Massachusetts SMART program, ensuring a solid return on investment. This move aligns with their goals to provide clean energy to local communities while supporting renewable energy targets in the region.
SJI reported Q1 2022 results, showing GAAP earnings of $129.4 million or $1.08 per diluted share, down from $128.8 million or $1.26 in 2021. Economic earnings were $149.5 million, slightly up from $128.9 million. The company noted successful operations in its Utility and Non-Utility segments, despite financing impacts. The acquisition by IIF is proceeding as planned, with shareholder voting slated for May 10. Regulatory initiatives, including rate increases and infrastructure investments, are advancing, reflecting SJI's commitment to clean energy and service reliability.
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