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New Jersey Resources Corp NJR

Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

New Jersey Resources on Track With Full-Year Outlook and Growth Plan

Travis Miller Strategist

Analyst Note

| Travis Miller |

We are reaffirming our $39 fair value estimate for New Jersey Resources after the company reported a $0.15 per share adjusted net financial loss in its fiscal third quarter. Losses are typical in the third quarter because of low gas demand, and earnings remain on track to meet our full-year outlook. 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
Sector Utilities
Industry Utilities - Regulated Gas
Most Recent Earnings Jun 30, 2021
Fiscal Year End Sep 30, 2021
Stock Type High Yield
Employees 1,156

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