5 New Stock Picks of Billionaire David Harding

In this article, we discuss 5 new stock picks of billionaire David Harding. If you want to see more stocks in this selection, click 10 New Stock Picks of Billionaire David Harding.

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

Number of Hedge Fund Holders: 36

South Jersey Industries, Inc. (NYSE:SJI) is a New Jersey-based provider of energy-related products and services. The company sells natural gas and offers pipeline transportation. David Harding added 158,030 shares of South Jersey Industries, Inc. (NYSE:SJI) to his portfolio in the first quarter of 2022, worth $5.46 million.

On May 4, South Jersey Industries, Inc. (NYSE:SJI) reported earnings for Q1 2022, posting an EPS of $1.25, beating analysts’ estimates by $0.10. Revenue over the period came in at $824.58 million, up 22.29% year-over-year, exceeding market estimates by about $135 million. 

According to Insider Monkey’s Q1 data, 36 hedge funds were bullish on South Jersey Industries, Inc. (NYSE:SJI), up from 13 funds in the preceding quarter. Ric Dillon’s Diamond Hill Capital is the biggest shareholder of the company, with 2.5 million shares worth $89.4 million. 

Here is what FPA Queens Road Small Cap Value Fund  has to say about South Jersey Industries, Inc. (NYSE:SJI) in its Q3 2021 investor letter:

“South Jersey Industries shares fell due in part to the cancellation of the PennEast pipeline. The pipeline, 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. The company currently pays a 5.5% dividend yield and is expected to continue its long history of slow but steady normalized earnings growth.”