Company Reports

New Jersey Resources reported adjusted earnings per share of $3.48 through its first three fiscal quarters, up from $3.13 in the same year-ago period. Results are on track to meet our and management's full-year outlooks.

New Jersey Resources is one of the few US utilities that has committed to maintaining and growing a diverse set of businesses, including rate-regulated natural gas distribution, gas midstream assets, and renewable energy investments. Management's investments across all of its companies have paid off nicely for investors so far.

New Jersey Resources reported $2.20 per share adjusted earnings for the second fiscal quarter of 2026, and management raised its full-year EPS guidance by $0.20, or 6%, to reflect better-than-expected performance at the energy services business.

New Jersey Resources reported $1.17 per share adjusted earnings for the first fiscal quarter of 2026, and management raised its full-year EPS guidance by $0.25, or 8%, to reflect better-than-expected performance in January at the energy services business.

New Jersey Resources is one of the few US utilities that has committed to maintaining and growing a diverse set of businesses, including rate-regulated natural gas distribution, gas midstream assets, and renewable energy investments. Management's investments across all of its companies have paid off nicely for investors so far.

New Jersey Resources is one of the few US utilities that has committed to maintaining and growing a diverse set of businesses, including rate-regulated natural gas distribution, gas midstream assets, and renewable energy investments. Management's investments across all of its companies have paid off nicely for investors so far.

New Jersey Resources reported $3.29 per share adjusted earnings for fiscal-year 2025. This is up from $2.95 in fiscal-year 2024, topping our expectations and management's initial fiscal-year guidance.

New Jersey Resources reported $0.06 per-share adjusted earnings during the third fiscal quarter of 2025, up from a $0.09 loss in the third quarter of fiscal 2024. Year-to-date earnings are on track to meet our full-year outlook.

New Jersey Resources is one of the few US utilities that has committed to maintaining and growing a diverse set of businesses, including rate-regulated natural gas distribution, gas midstream assets, and renewable energy investments. Management's investments across all of its companies have paid off nicely for investors so far.

New Jersey Resources reported $1.78 per share adjusted earnings during the second fiscal quarter of 2025, up from $1.41 in the second quarter of the 2024 fiscal year. Earnings are tracking ahead of our full-year outlook because of outperformance at the energy services business.

Utilities have limited direct exposure to tariffs announced by the Donald Trump administration, but falling energy demand or regulatory pushback to utilities' investment plans could slow earnings growth if economic conditions deteriorate.

New Jersey Resources reported $1.29 per share adjusted earnings in the first fiscal quarter of 2025, up from $0.74 last year primarily due to a gain on the previously announced sale of its residential solar portfolio. Earnings are on track to meet our full-year outlook.

New Jersey Resources, or NJR, is one of the few US utilities that has committed to maintaining and growing a diverse set of businesses from rate-regulated natural gas distribution to renewable energy investments. Management's investments across all of its businesses have paid off nicely for investors so far.

New Jersey Resources, or NJR, is one of the few US utilities that has committed to maintaining and growing a diverse set of businesses from rate-regulated natural gas distribution to renewable energy investments. Management's investments across all of its businesses are paying off nicely for investors so far.

New Jersey Resources closed fiscal-year 2024 with $2.95 per share of adjusted earnings for the full year, up from $2.70 in fiscal-year 2023 and near the high end of management's guidance range. Results are in line with our expectations.

New Jersey Resources, or NJR, is one of the few U.S. utilities that has committed to maintaining and growing a diverse set of businesses from rate-regulated natural gas distribution to renewable energy investments. Management's investments across all of its businesses are paying off nicely for investors so far.

We reaffirm our $46 fair value estimate and narrow moat rating for New Jersey Resources after the firm reported a $0.09 per share loss on an adjusted basis in the third fiscal quarter.

We reaffirm our $46 fair value estimate and narrow moat rating for New Jersey Resources after the firm reported $1.41 per share of adjusted earnings in its second fiscal quarter.

New Jersey Resources, or NJR, is one of the few U.S. utilities that has committed to maintaining and growing a diverse set of businesses from rate-regulated natural gas distribution to renewable energy investments. Management's investments across all of its businesses are paying off nicely for investors so far.

We reaffirm our $46 fair value estimate and narrow moat rating for New Jersey Resources after the firm reported $0.74 per share of adjusted earnings in its first fiscal quarter.