New Jersey Resources Corp
NJR
ISIN US6460251068 / Valor 956530
New Jersey Resources Corp
UMushroom community rating:
About company
New Jersey Resources Corp (NJR) is a Fortune 1000 company engaged in providing a wide range of natural gas and clean energy services. Its operations encompass transportation, distribution, asset management, and various home services, catering to both residential and commercial sectors across New Jersey. NJR is structured around several core business affiliates, including New Jersey Natural Gas (NJNG), which is its principal subsidiary responsible for operating and maintaining a significant natural gas transportation and distribution infrastructure. This infrastructure serves over half a million customers in several counties within New Jersey. Additionally, NJR Clean Energy Ventures (NJRCEV) focuses on investing in, owning, and operating solar projects with a capacity exceeding 365 megawatts, aiming to offer low-carbon solutions. NJR Energy Services (NJRES) manages a diversified portfolio of natural gas transportation and storage assets, providing physical natural gas services and tailored energy solutions across North America. The company also has interests in storage and transportation facilities, including the Leaf River Energy Center and the Adelphia Gateway Pipeline Project, enhancing its service offerings to a broad spectrum of customers from local distributors to wholesale marketers. Through its subsidiary, NJR Home Services, the company offers service contracts and a range of products aimed at improving indoor and outdoor comfort for residential homes throughout New Jersey.
Summarized from source with an LLMView SourceSector: EnergyLatest Results (27.12.2024):
Net Income Growth
New Jersey Resources Corp reported a consolidated net income of $289.8 million, or $2.94 per share, for the fiscal 2024 fourth quarter and year-ended September 30, 2024. This represents an increase from the previous fiscal year's net income of $264.7 million, or $2.73 per share.
Net Financial Earnings
The company achieved consolidated net financial earnings (NFE) of $290.8 million, or $2.95 per share, in fiscal 2024. This is an improvement compared to the NFE of $261.8 million, or $2.70 per share, reported in fiscal 2023.
Fourth-Quarter Performance
For the fiscal 2024 fourth quarter, New Jersey Resources Corp reported a net income of $91.1 million, or $0.92 per share. This is a significant increase from the net income of $37.0 million, or $0.38 per share, for the same period in fiscal 2023, driven by higher operating revenue at Energy Services.
Dividend Increase
New Jersey Resources Corp announced a 7.1 percent increase in its fiscal 2025 dividend, raising it to $1.80 per share. This decision reflects the company's strong financial performance and commitment to returning value to shareholders.
Fiscal 2025 Outlook
The company introduced its fiscal 2025 net financial earnings per share (NFEPS) guidance range of $3.05 to $3.20. This range is higher than the long-term NFEPS growth target due to a one-time gain from the sale of its residential solar portfolio.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
4660 M
Market cap (USD)
201,113
Daily traded volume (Shares)
46.82 / 46.52
1 day high/low (USD)
52 weeks high/low (USD)
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Ratings & reviews
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