New Jersey Resources Corp

NJR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$33.00	Rnfgvm	Cpjxddnr

New Jersey Resources Earnings: Core Growth Trending Toward Top of Utilities Sector

Travis Miller

Nov 21, 2023

We are reaffirming our $45 fair value estimate for New Jersey Resources after the firm reported earning $2.70 per share on an adjusted basis during fiscal year 2023, up 8% from fiscal year 2022. We reaffirm our narrow moat rating.

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