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SJIJ - South Jersey Industries: This Utility Is Awfully Risky
South Jersey Industries Inc. - 5.625% NT REDEEM 16/09/2079 USD 25
Utilities are generally favorites among more risk-averse investors due to the stability that they typically offer.
South Jersey Industries has historically seen strong customer growth, but this trend might be reversing as New Jersey is beginning to see population decline.
The company is moving into green initiatives and renewable power, which might endear it to the ESG crowd.
The company has a rather volatile operating cash flow and a consistently negative free cash flow.
Since the company cannot finance itself through its ordinary operations, it may be best to find a utility that can.