New Jersey Resources Corp (NJR) Quote - XNYS | Morningstar

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1-Star Price

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Economic Moat

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Capital Allocation

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New Jersey Resources' Strong 2021 Performance Sets Up Attractive Growth Outlook

Strategist Travis Miller

Travis Miller Strategist

Analyst Note

| Travis Miller | Nov 18, 2021

We are reaffirming our $39 fair value estimate for New Jersey Resources after the company reported $2.16 per share of adjusted earnings in fiscal-year 2021. This is in line with our forecast and management's most recent guidance, both of which reflected large gains from NJR's energy services business last winter. We are reaffirming our narrow moat and stable moat trend ratings.

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Company Profile

Business Description

New Jersey Resources is an energy services holding company with regulated and nonregulated operations. Its regulated utility, New Jersey Natural Gas, delivers natural gas to 560,000 customers in the state. NJR's nonregulated businesses include retail gas supply and solar investments primarily in New Jersey. NJR also is an equity investor and owner in several large midstream gas projects.

Contact

1415 Wyckoff Road
Wall, NJ, 07719

T +1 732 938-1000

www.njresources.com

Sector Utilities

Industry Utilities - Regulated Gas

Most Recent Earnings Sep 30, 2021

Fiscal Year End Sep 30, 2021

Stock Type High Yield

Employees 1,251

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