New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 558,000 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets. The Clean Energy Ventures segment invests in, owns, and operates commercial and residential solar projects located in New Jersey, Connecticut, and Rhode Island. The Energy Services segment provides unregulated wholesale energy management services to other energy companies and natural gas producers, as well as maintains and transacts a portfolio of physical assets consisting of natural gas storage and transportation contracts in the United States and Canada. The Storage and Transportation segment invests in natural gas transportation and storage facilities. The company offers heating, ventilation, and cooling services; holds commercial real estate properties; and provides solar equipment installation, and plumbing repair and installation services, as well as engages in the water appliance sale, installation, and servicing activities. New Jersey Resources Corporation was incorporated in 1981 and is based in Wall, New Jersey.
IPO Year:
Exchange: NYSE
Website: njresources.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/12/2024 | $52.00 → $54.00 | Neutral → Overweight | Analyst |
| 9/21/2023 | $44.00 → $46.00 | Underweight → Neutral | JP Morgan |
| 9/9/2022 | $47.00 → $46.00 | Neutral → Underweight | JP Morgan |
| 1/5/2022 | $42.00 | Buy → Neutral | Mizuho |
| 6/25/2021 | $39.00 | Neutral → Underperform | BofA Securities |
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Shareowners Elect Four Directors New Jersey Resources (NYSE:NJR), today hosted its 71st Annual Shareowners Meeting. At the virtual meeting, shareowners elected Donald L. Correll, James H. DeGraffenreidt Jr., M. Susan Hardwick and Peter C. Harvey to NJR's board of directors each for a three-year term that will expire in 2027. "I appreciate our shareowners' overwhelming support for our directors and confidence in our company," said Steve Westhoven, President and CEO of New Jersey Resources. "With the strong expertise of our board, we remain committed to executing on our growth strategy and delivering long-term value for our shareowners." Also at the meeting, NJR's longest serving indepe
New Jersey Natural Gas, (NJNG), a regulated subsidiary of New Jersey Resources (NYSE:NJR), announced the appointment of Marissa Travaline as Vice President, Customer Service, Marketing and Energy Efficiency effective today. In this role, Ms. Travaline will be responsible for overseeing a diverse team of employees and developing, implementing and executing NJNG's customer experience strategy, customer service and call center operations, residential and commercial growth objectives and energy-efficiency programs. "Marissa brings nearly two decades of strong strategic and operational leadership to New Jersey Natural Gas, skills that will serve our customers and our company well as we lead th
Mr. Eckert to succeed Ginger Richman upon her retirement on December 31, 2023 New Jersey Resources (NYSE:NJR) today announced the appointment of James Eckert as Vice President, Storage and Transportation, NJR Midstream Company (S&T), a wholly-owned subsidiary of NJR, effective August 1, 2023. Mr. Eckert will succeed Vice President Ginger Richman. Ms. Richman will remain with the company to facilitate the leadership transition until her scheduled retirement on December 31, 2023. "With more than three decades of natural gas marketing and operational experience, James is a respected leader and welcome addition to our executive team," said Steve Westhoven, President and CEO of New Jersey Re
Casey to succeed current Home Services President Thomas J. Massaro New Jersey Resources (NYSE:NJR) today announced the appointment of Frank Casey as President of NJR Home Services, the company's appliance service and home comfort business, effective July 1, 2023. Mr. Casey will succeed Senior Vice President of NJR Retail and NJR Home Services President Thomas J. Massaro, who will be retiring on September 30, 2023. "Frank is a talented and well-respected leader with extensive experience in the energy and appliance service field, and we are fortunate to have him join our leadership team," said Steve Westhoven, President and CEO of New Jersey Resources. "I have every confidence that he wil
New Jersey Resources (NYSE:NJR) today hosted its 70th Annual Shareowners Meeting. At the virtual meeting, shareowners elected to NJR's board of directors Michael A. O'Sullivan for a two-year term that will expire in 2025 and re-elected Jane M. Kenny, Sharon C. Taylor and Stephen D. Westhoven for three-year terms that will expire in 2026. "Good governance is critical to ensuring effective business operations and consistent long-term performance," said Steve Westhoven, President and CEO of New Jersey Resources. "I appreciate shareowners' overwhelming support for our directors and confidence in our company. NJR has an exceptional board whose diverse and broad expertise serves our customers, c
New Jersey Resources (NYSE:NJR) today announced the appointment of Lori DelGiudice to the position of Senior Vice President of Human Resources (HR) effective November 7, 2022. Ms. DelGiudice, a career HR professional with more than 20 years of experience, will be responsible for designing, implementing and overseeing NJR's human capital management strategies and programs to maximize the potential and effectiveness of a diverse and growing workforce. Her responsibilities will include labor and employee relations, professional development and training, strategic workforce planning and compensation and benefits initiatives. "As a premier energy infrastructure company with nearly 1,300 employe
Richman to succeed current VP John Bremner following October retirement New Jersey Resources (NYSE:NJR) today announced the appointment of Ginger Richman as Vice President of Storage and Transportation for NJR Midstream Company, a wholly-owned subsidiary that owns and operates high-quality natural gas infrastructure assets around the country. The appointment will be effective next month, following the retirement of current Vice President John Bremner. "Ginger is a talented leader who leverages her vast experience and expertise to drive value at our company every day," said Steve Westhoven, President and CEO of New Jersey Resources. "She is well respected throughout our organization and ac
New Jersey Resources (NYSE:NJR) today announced the appointment of Tejal K. Mehta as Corporate Secretary and Assistant General Counsel effective June 6, 2022. In this role, Ms. Mehta will serve as the secretary to the board of directors of NJR and its subsidiaries, act as the company's registered agent and keeper of records, provide oversight of the company's corporate governance and support NJR's overall corporate legal function. "Tejal Mehta is an accomplished lawyer whose proven skills and experience will serve our company, board and customers well," said Richard Reich, senior vice president and general counsel of New Jersey Resources. "With nearly 15 years of legal experience and a pro
New Jersey Resources (NYSE:NJR), today hosted its 69th Annual Shareowners Meeting. Due to the ongoing COVID-19 pandemic, the meeting was held virtually. By an overwhelming majority, shareowners re-elected Gregory E. Aliff, Robert B. Evans and Thomas C. O'Connor to the board of directors for three-year terms that will expire in 2025. "We have an exceptional board of directors whose expertise continues to serve our customers, company and shareowners well," said Steve Westhoven, president and CEO of New Jersey Resources. "With the strong leadership of our board and dedication of our team, NJR is well positioned to reward the confidence our shareowners have placed in New Jersey Resources, exec
New Jersey Resources (NYSE:NJR) today announced Interim General Counsel and Corporate Secretary Richard Reich has been promoted to Senior Vice President and General Counsel. In this position, Mr. Reich is responsible for leading NJR's legal department, developing and directing the corporate legal function and overseeing corporate compliance. He will also continue to serve in the Corporate Secretary role until a replacement is selected. "Rich is an exceptional corporate attorney, who will serve our company well as Senior Vice President and General Counsel," said Steve Westhoven, President and CEO of New Jersey Resources. "Throughout his tenure at NJR, he's proven himself to be a strong and
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New Jersey Resources (NYSE:NJR) invites investors, customers, members of the financial community and other interested parties to listen to a live webcast of its fiscal 2025 first quarter financial results on Tuesday, February 4, 2025, at 10 a.m. ET. New Jersey Resources will release these results on Monday, February 3, 2025, after the close of the stock market. A few minutes prior to the webcast, visit www.njresources.com and select "Investor Relations." Scroll down and click the webcast link under "Latest Events" on the right side of the page. About New Jersey Resources New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliabl
Today, New Jersey Resources Corporation (NYSE:NJR) reported results for the fiscal 2024 fourth quarter and year-ended September 30, 2024. Financial highlights include: Fiscal 2024 consolidated net income of $289.8 million, or $2.94 per share, compared with net income of $264.7 million, or $2.73 per share, in fiscal 2023 Consolidated net financial earnings (NFE), a non-GAAP financial measure, of $290.8 million, or $2.95 per share, in fiscal 2024, compared to NFE of $261.8 million, or $2.70 per share, in fiscal 2023 Achieved higher end of fiscal 2024 net financial earnings per share (NFEPS) guidance range of $2.85 to $3.00, which was increased in February 2024 Fiscal 2024 fourth-q
-Deal Grows Spruce's Home Solar Assets and Contracts by ~13% to ~85,000- -Accelerates Operating Efficiencies to Enhance Customer Experience and Shareholder Value- Spruce Power Holding Corporation (NYSE:SPRU) ("Spruce" or the "Company") today announced the acquisition of a residential solar portfolio from NJR Clean Energy Ventures ("CEV"), a subsidiary of New Jersey Resources Corporation (NYSE:NJR), for $132.5 million. The acquisition closed on November 22, 2024. The acquired assets ("Spruce Power 5 Portfolio" or the "Portfolio") consist of approximately 9,800 solar systems in New Jersey that were installed under a CEV residential solar program between 2010 to 2024. Solar systems under
NJR Clean Energy Ventures (CEV), a clean energy subsidiary of New Jersey Resources (NYSE:NJR), today announced the sale of its 91 megawatt (MW) residential solar portfolio, to Spruce Power Holding Corporation (NYSE:SPRU) for a total of $132.5 million. NJR expects to record a gain on sale in fiscal 2025, and will use the proceeds to pay down corporate debt and for general working capital purposes. "Renewable energy investments are an integral part of our business and will continue to be a key driver of NJR's long-term growth strategy," said Steve Westhoven, President and CEO of New Jersey Resources. "Following this transaction, Clean Energy Ventures will have a sharpened focus on the str
New Jersey Natural Gas (NJNG) today received approval from the New Jersey Board of Public Utilities on the settlement of its base rate case resulting in a $157 million increase to its base rates. NJNG requested the increase to recover costs associated with the company's infrastructure investments, system enhancements and the overall operation of its business. "This is a reasonable, fair settlement that recognizes the value of the approximately $850 million of investments New Jersey Natural Gas has made in its operations and system since 2021," said Steve Westhoven, President and CEO of New Jersey Natural Gas. "These investments have significantly enhanced the reliability of our delivery s
The board of directors (the "Board") of New Jersey Resources Corporation (NYSE:NJR) unanimously declared a quarterly dividend on its common stock of $0.45 per share. The dividend will be payable on January 2, 2025, to shareowners of record as of December 11, 2024. NJR has paid quarterly dividends continuously since its inception in 1952, and has raised the dividend every year for the last 29 years. About New Jersey Resources New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary bus
Energy-efficiency solutions include innovative technologies and enhanced opportunities for residential and commercial customers to achieve emissions reduction. New Jersey Natural Gas (NJNG), the principal subsidiary of New Jersey Resources (NYSE:NJR), today received approval from the New Jersey Board of Public Utilities (BPU) for the next generation of its SAVEGREEN® program. The expanded solutions underscore NJNG's commitment to advancing energy-efficiency opportunities and pursuing new, cleaner energy technologies to help customers reduce their energy usage and lower their energy bills. This program cycle is scheduled to go into effect January 1, 2025, and continue through June 30, 2027,
New Jersey Resources (NYSE:NJR) invites investors, customers, members of the financial community and other interested parties to listen to a live webcast of its fiscal 2024 fourth quarter and year-end financial results on Tuesday, November 26, 2024, at 10 a.m. ET. New Jersey Resources will release these results on Monday, November 25, 2024, after the close of the stock market. A few minutes prior to the webcast, visit www.njresources.com and select "Investor Relations." Scroll down and click the webcast link under "Latest Events" on the right side of the page. About New Jersey Resources New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides saf
The board of directors (the "Board") of New Jersey Resources Corporation (NYSE:NJR) unanimously approved a 7.1 percent increase in the quarterly dividend rate to $0.45 per share from $0.42 per share. The new quarterly rate will be effective with the dividend payable October 1, 2024 to shareowners of record on September 23, 2024. The new annual dividend rate will be $1.80 per share. NJR has paid quarterly dividends continuously since its inception in 1952, and has raised the dividend every year for the last 29 years. Steve Westhoven, President and CEO of NJR, stated, "This dividend increase underscores the Board's belief in our strong financial health and confidence in our long-term growth
Today, New Jersey Resources Corporation (NYSE:NJR) reported results for the third quarter of fiscal 2024. Highlights include: Consolidated net loss of $(11.6) million, compared with net income of $1.5 million in the third quarter of fiscal 2023 Consolidated net financial loss, a non-GAAP financial measure, of $(8.9) million, or $(0.09) per share, compared to net financial earnings (NFE), a non-GAAP financial measure, of $9.7 million, or $0.10 per share, in the third quarter of fiscal 2023 Re-affirmed fiscal 2024 net financial earnings per share (NFEPS) guidance range of $2.85 to $3.00, which was increased by $0.15 in February 2024 as a result of strong performance from Energy Servi
Analyst upgraded NJ Resources from Neutral to Overweight and set a new price target of $54.00 from $52.00 previously
JP Morgan upgraded NJ Resources from Underweight to Neutral and set a new price target of $46.00 from $44.00 previously
JP Morgan downgraded NJ Resources from Neutral to Underweight and set a new price target of $46.00 from $47.00 previously
Mizuho downgraded New Jersey Resources from Buy to Neutral and set a new price target of $42.00
BofA Securities downgraded NJ Resources from Neutral to Underperform and set a new price target of $39.00
JP Morgan initiated coverage of NJ Resources with a rating of Neutral and set a new price target of $43.00
Mizuho reiterated coverage of New Jersey Resources with a rating of Buy and set a new price target of $40.00 from $38.00 previously
Today, New Jersey Resources Corporation (NYSE:NJR) reported results for the fiscal 2024 fourth quarter and year-ended September 30, 2024. Financial highlights include: Fiscal 2024 consolidated net income of $289.8 million, or $2.94 per share, compared with net income of $264.7 million, or $2.73 per share, in fiscal 2023 Consolidated net financial earnings (NFE), a non-GAAP financial measure, of $290.8 million, or $2.95 per share, in fiscal 2024, compared to NFE of $261.8 million, or $2.70 per share, in fiscal 2023 Achieved higher end of fiscal 2024 net financial earnings per share (NFEPS) guidance range of $2.85 to $3.00, which was increased in February 2024 Fiscal 2024 fourth-q
-Deal Grows Spruce's Home Solar Assets and Contracts by ~13% to ~85,000- -Accelerates Operating Efficiencies to Enhance Customer Experience and Shareholder Value- Spruce Power Holding Corporation (NYSE:SPRU) ("Spruce" or the "Company") today announced the acquisition of a residential solar portfolio from NJR Clean Energy Ventures ("CEV"), a subsidiary of New Jersey Resources Corporation (NYSE:NJR), for $132.5 million. The acquisition closed on November 22, 2024. The acquired assets ("Spruce Power 5 Portfolio" or the "Portfolio") consist of approximately 9,800 solar systems in New Jersey that were installed under a CEV residential solar program between 2010 to 2024. Solar systems under
The board of directors (the "Board") of New Jersey Resources Corporation (NYSE:NJR) unanimously declared a quarterly dividend on its common stock of $0.45 per share. The dividend will be payable on January 2, 2025, to shareowners of record as of December 11, 2024. NJR has paid quarterly dividends continuously since its inception in 1952, and has raised the dividend every year for the last 29 years. About New Jersey Resources New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is composed of five primary bus
The board of directors (the "Board") of New Jersey Resources Corporation (NYSE:NJR) unanimously approved a 7.1 percent increase in the quarterly dividend rate to $0.45 per share from $0.42 per share. The new quarterly rate will be effective with the dividend payable October 1, 2024 to shareowners of record on September 23, 2024. The new annual dividend rate will be $1.80 per share. NJR has paid quarterly dividends continuously since its inception in 1952, and has raised the dividend every year for the last 29 years. Steve Westhoven, President and CEO of NJR, stated, "This dividend increase underscores the Board's belief in our strong financial health and confidence in our long-term growth
The board of directors (the "Board") of New Jersey Resources Corporation (NYSE:NJR) unanimously declared a quarterly dividend on its common stock of $0.42 per share. The dividend will be payable on July 1, 2024, to shareowners of record as of June 12, 2024. The Company is committed to providing value to its shareowners with a competitive return and has paid quarterly dividends continuously since its inception in 1952. About New Jersey Resources New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is compo
The board of directors (the "Board") of New Jersey Resources Corporation (NYSE:NJR) unanimously declared a quarterly dividend on its common stock of $0.42 per share. The dividend will be payable on April 1, 2024, to shareowners of record as of March 13, 2024. The Company is committed to providing value to its shareowners with a competitive return and has paid quarterly dividends continuously since its inception in 1952. About New Jersey Resources New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR is com
Introduces Fiscal 2024 Guidance and Maintains its Long-term Projected Growth Rate Today, New Jersey Resources Corporation (NYSE:NJR) reported results for the fourth quarter and year ended fiscal 2023. Highlights include: Consolidated net income of $264.7 million for fiscal 2023, compared with net income of $274.9 million in fiscal 2022 Consolidated net financial earnings (NFE), a non-GAAP financial measure, of $261.8 million, or $2.70 per share, compared to NFE of $240.3 million, or $2.50 per share, in fiscal 2022 Increased fiscal 2024 dividend by 7.7% to $1.68 per share Outlook for Fiscal 2024 Introduces fiscal 2024 net financial earnings per share (NFEPS) guidance range o
The board of directors (the "Board") of New Jersey Resources Corporation (NYSE:NJR) unanimously declared a quarterly dividend on its common stock of $0.42 per share. The dividend will be payable on January 2, 2024, to shareowners of record as of December 13, 2023. The Company is committed to providing value to its shareowners with a competitive return and has paid quarterly dividends continuously since its inception in 1952. About New Jersey Resources New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR i
The board of directors (the "Board") of New Jersey Resources Corporation (NYSE:NJR) unanimously approved a 7.7 percent increase in the quarterly dividend rate to $0.42 per share from $0.39 per share. The new quarterly rate will be effective with the dividend payable October 2, 2023 to shareowners of record on September 20, 2023. This dividend replaces the previously announced dividend of $0.39 per share approved on July 12, 2023 for shareowners of record on September 20, 2023. The new annual dividend rate will be $1.68 per share. NJR has paid quarterly dividends continuously since its inception in 1952, and has raised the dividend every year for the last 28 years. Steve Westhoven, Presi
The board of directors (the "Board") of New Jersey Resources Corporation (NYSE:NJR) unanimously declared a quarterly dividend on its common stock of $0.39 per share. The dividend will be payable on October 2, 2023, to shareowners of record as of September 20, 2023. The Company is committed to providing value to its shareowners with a competitive return and has paid quarterly dividends continuously since its inception in 1952. About New Jersey Resources: New Jersey Resources (NYSE:NJR) is a Fortune 1000 company that, through its subsidiaries, provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. NJR