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New Jersey Resources Corp NJR

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Morningstar’s Analysis

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Economic Moat




NJR's Distribution Utility Makes Up for Weakness At Nonutility Businesses

Travis Miller Strategist

Analyst Note

| Travis Miller |

We are reaffirming our $37 per share fair value estimate and narrow moat and stable moat trend ratings for New Jersey Resources after it reported $1.12 per share net financial profit in the second fiscal quarter of 2020, down from $1.27 in the second quarter of fiscal 2019.

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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 550,000 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.

1415 Wyckoff Road
Wall, NJ, 07719
T +1 732 938-1480
Sector Utilities
Industry Utilities - Regulated Gas
Most Recent Earnings Mar 31, 2020
Fiscal Year End Sep 30, 2020
Stock Type High Yield
Employees 1,108