Latest news for New Jersey Resources (NYSE:NJR) Stock

New Jersey Resources

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 nearly 600,000 customers in the state. NJR's nonregulated businesses include solar investments primarily in New Jersey and investments in several large midstream natural gas projects.

News

Federal Reserve

Markets

Trading Ideas

Natural gas distribution companies offer services to transport natural gas from the region of production to millions of consumers across the United States. The utilities under the Zacks Utility Gas Distribution industry control miles of underground pipeline network to provide natural gas services to customers.

3 Gas Distribution Stocks to Buy From a Flourishing Industry

Earnings

Analyst Ratings

Atmos Energy Corporation&#39;s (NYSE: ATO) continuous capital investments to increase the safety and reliability of its natural gas pipelines help enhance its performance. The company&#39;s expansion into renewable natural gas will boost its performance even further.

Reasons to Add Atmos Energy to Your Portfolio Now

New Jersey Resources (NYSE: NJR) continues to benefit from its infrastructure upgrades that help serve its expanding customer base more efficiently. Given its earnings growth opportunities and strong return on equity (ROE), NJR makes for a solid investment option in the utility sector.


Reasons to Add New Jersey Resources to Your Portfolio Now

NewJersey Resources Corporation Common Stock

New Jersey Resources Corp

Mizuho analyst Gabriel Moreen maintains New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) with a Neutral and raises the price target from $45 to $47.

Price Target

Mizuho Maintains Neutral on New Jersey Resources, Raises Price Target to $47

JP Morgan analyst Richard Sunderland maintains New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) with a Neutral and raises the price target from $48 to $49.

JP Morgan Maintains Neutral on New Jersey Resources, Raises Price Target to $49

Guidance

New Jersey Resources Affirms FY2024 Adj EPS Guidance $2.85-$3.00 vs $2.94 Est

New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) reported quarterly losses of $(0.09) per share which missed the analyst consensus estimate of $(0.02) by 350 percent. The company reported quarterly sales of $275.636 million which missed the analyst consensus estimate of $284.000 million by 2.95 percent. This is a 4.38 percent increase over sales of $264.075 million the same period last year.

Earnings Misses

New Jersey Resources Q3 2024 Adj. EPS $(0.09) Misses $(0.02) Estimate, Sales $275.636M Miss $284.000M Estimate

Natural gas distribution companies offer services to transport natural gas from the region of production to millions of consumers across the United States. The utilities under the Zacks Utility Gas Distribution industry control miles of underground pipeline network to provide natural gas services to customers. The rising demand for clean, burning natural gas will create more opportunities for natural gas distribution companies.
Atmos Energy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ato#NYSE">ATO</a>), with its widespread transmission and distribution lines, interstate pipelines, and significant investments in infrastructure development projects, is poised to benefit as natural gas production volumes are expected to increase in 2024-2025. Steady investments and expanding infrastructure in crucial production regions should drive the performance of&nbsp;National Fuel Gas Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nfg#NYSE">NFG</a>) and New Jersey Resources Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/njr#NYSE">NJR</a>).
About The Industry
The shale revolution has substantially increased natural gas production. Its clean-burning nature has steadily boosted the demand for natural gas from all customer groups. Natural gas distribution pipelines are vital in delivering natural gas from intrastate and interstate transmission pipelines to consumers through small-diameter pipelines. United States has 3,353 trillion cubic feet of natural gas and a natural gas pipeline network of 2.6 million miles is utilized to distribute gas to customers. Major concerns for the industry are aging infrastructure and rising investment costs required to upgrade and maintain the vast network of pipelines due to the hike in interest rates. Competition from other clean energy sources can lower the demand for natural gas and, consequently, for pipelines.
Factors Shaping the Future of the Gas Distribution Industry
Production &amp; Export Volumes of Gas to Increase: The short-term energy outlook released by the U.S. Energy Information Administration indicates that domestic dry natural gas production will remain similar to the 2023 levels in 2024 and increase 1.6% year over year to 105.2 billion cubic feet per day (Bcf/d) in 2025. EIA also forecasts gas consumption to increase 0.3% year over year to 89.4 Bcf/d in 2024. Export volumes are expected to increase in 2024 and 2025, providing relief to natural gas transporters. EIA expects U.S. liquefied natural gas&nbsp;export volumes to increase 2% year over year to 12.2 Bcf/d in 2024 and exports to increase 18% to 14.3 Bcf/d in 2025. This indicates the need for more pipelines to send LNG to export terminals.
Fresh Investments Create Opportunities: The clean-burning nature and wide availability of natural gas across the United States are driving demand. At present, 187 million Americans use natural gas. The distribution network will continue to transport natural gas to all parts of the United States. With five new LNG export terminals being developed in the United States, there should be increased demand for natural gas pipeline services to transfer the gas from production areas to these terminals. Per EIA, once completed, the five new LNG projects will increase the combined export capacity by 9.7 Bcf/d by 2025. Per the American Gas Association report, one residential customer signs up for natural gas service every minute and 80 businesses add natural gas service each day. As production and demand for natural gas increase, more pipelines will be required to safely transfer the commodity to end-users. Per the report, natural gas utilities are investing $33 billion each year to increase the reliability of natural gas distribution and transmission systems, indicating the long-term growth potential of this space.
Likely Drop in Interest Rate to Act as a Tailwind: In order to maintain, upgrade and expand operations, utilities approach capital markets for loans. Utilities have been enjoying near-zero interest rates for the past few years. However, multiple rate hikes by the Federal Reserve took the benchmark rate to 5.25-5.50%, which impacted utility operators. However, in its last few meetings, the Fed did not increase the benchmark rate. In the recently concluded Fed meeting, interest rates were unchanged. Fed officials indicated that they would probably reduce the interest rates in September if the positive development continues. The likely drop in interest rates would be a positive for utility operators planning large investments in infrastructure upgrades and the addition of renewable sources of energy to produce electricity.
<a href="https://www.zacks.com/commentary/2308008/3-gas-distribution-stocks-to-buy-from-a-flourishing-industry?cid=CS-BENZ-FT-industry_outlook-2308008">To read this article on Zacks.com click here.</a>

Stephen D Westhoven, President &amp; CEO at New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>), reported an insider sell on July 16, according to a new SEC filing. 
What Happened: After conducting a thorough analysis, Westhoven sold 30,000 shares of New Jersey Resources. This information was disclosed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000356309/000035630924000040//Archives/edgar/data/356309/000035630924000040/0000356309-24-000040-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday. The total transaction value is $1,351,545.
Tracking the Wednesday's morning session, New Jersey Resources shares are trading at $45.62, showing a down of 0.0%.
<h3>All You Need to Know About New Jersey Resources</h3>
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 nearly 600,000 customers in the state. NJR's nonregulated businesses include solar investments primarily in New Jersey and investments in several large midstream natural gas projects.
<h3>Understanding the Numbers: New Jersey Resources's Finances</h3>
Revenue Growth: Over the 3 months period, New Jersey Resources showcased positive performance, achieving a revenue growth rate of 2.16% as of 31 March, 2024. This reflects a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Utilities sector.
Key Profitability Indicators:
<ul>
<li>
Gross Margin: The company issues a cost efficiency warning with a low gross margin of 36.41%, indicating potential difficulties in maintaining profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): New Jersey Resources's EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 1.23.
</li>
</ul>
Debt Management: New Jersey Resources's debt-to-equity ratio is notably higher than the industry average. With a ratio of 1.48, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: A higher-than-average P/E ratio of 18.1 suggests caution, as the stock may be overvalued in the eyes of investors.
</li>
<li>
Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 2.61 as compared to the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Boasting an EV/EBITDA ratio of 13.51, New Jersey Resources demonstrates a robust market valuation, outperforming industry benchmarks.
</li>
</ul>
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Navigating the Impact of Insider Transactions on Investments</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In the realm of legality, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities under Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are required to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Notably, when a company insider makes a new purchase, it is considered an indicator of their positive expectations for the stock.
Conversely, insider sells may not necessarily signal a bearish stance on the stock and can be motivated by various factors.
<h3>Important Transaction Codes</h3>
When it comes to transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> tend to focus on those in the open market, detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S indicates a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000356309">Check Out The Full List Of New Jersey Resources's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

Stephen D Westhoven Implements A Sell Strategy: Offloads $1.35M In New Jersey Resources Stock

Atmos Energy Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ato#NYSE">ATO</a>) continuous capital investments to increase the safety and reliability of its natural gas pipelines help enhance its performance. The company&#39;s expansion into renewable natural gas will boost its performance even further.
Currently, the company carries a Zacks Rank #2 (Buy). Let&#39;s look at the factors that are driving the stock.
<h3>Growth Projections</h3>
The Zacks Consensus Estimate for ATO&#39;s fiscal 2024 and 2025 earnings per share increased 1.82% and 0.99%, respectively, in the last 60 days.
The consensus estimate for 2024 and 2025 sales indicates year-over-year growth of 9.39% and 11.32%, respectively.
The long-term (three to five years) earnings growth of the company is pinned at 7%.
<h3>Surprise History &amp; Dividend Details</h3>
Atmos Energy has a positive earnings surprise history. Its trailing four-quarter earnings surprise is 3.3%, on average.
The company has been rewarding its shareholders through consistent increases in annual dividend rates for 40 consecutive years. It has consistently paid shareholders a cash dividend on its common stock since 1995. The current dividend yield of the company is 2.8%, which is better than the Zacks S&amp;P 500 Composite&#39;s yield of 1.61%.
<h3>Leverage</h3>
Atmos Energy&#39;s debt to capital at the end of second-quarter fiscal 2024 was 39.31%, which compared favorably with its industry average of 44.91%. The reduced leverage signifies that the interest costs are lower and the company is using a smaller percentage of borrowed capital than its peers to run its operation.
<h3>Liquidity</h3>
ATO&#39;s current ratio is 1.36, better than the industry average of 0.69. The current ratio, being greater than one, indicates the company has enough short-term assets to meet its short-term obligations.
<h3>Investments &amp; Customer Additions</h3>
The company plans to invest $3.1 billion during fiscal 2024 and approximately $17 billion till fiscal 2028, majorly to increase its safety and reliability. It aims to replace miles of old transmission and distribution lines over the next five years to make its systems more reliable and reduce methane emissions by 50% by 2035 from the 2017 levels. These investments will help deliver natural gas to consumers safely, improve customers&#39; experience, and provide environmental and operational benefits to the company.
Atmos Energy&#39;s regulated and reliable operations generate a relatively stable and growing income. The company expects strong industrial and commercial customer growth. Commercial customer growth remained solid with more than 2,000 commercial customers connecting to the system during the first half of the fiscal 2024.
<h3>Price Performance</h3>
Shares of Atmos Energy have gained 0.1% in the past month against the industry&#39;s 1.9% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/c2/70322.jpg?v=1815180337" />
Image Source: Zacks Investment Research
<h3>Other Stocks to Consider</h3>
Some other top-ranked stocks in the industry are NewJersey Resources Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/njr#NYSE">NJR</a>), UGI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ugi#NYSE">UGI</a>), and Fortis Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fts#NYSE">FTS</a>). Each of these stocks currently carries a Zacks Rank of 2.
NewJersey Resources has delivered an average earnings surprise of 107.41% in the last four quarters. The Zacks Consensus Estimate for earnings for fiscal 2024 indicates year-over-year growth of 9.7%.
UGI has delivered an average earnings surprise of 19.13% in the last four quarters. The consensus estimate for earnings for 2024 and 2025 has gone up 0.69% and 0.32%, respectively, in the last 90 days.
Fortis has delivered an average earnings surprise of 4.17% in the last four quarters. The Zacks Consensus Estimate for earnings for 2024 and 2025 indicates year-over-year growth of 2.19% and 2.66%, respectively.
<a href="https://www.zacks.com/stock/news/2296961/reasons-to-add-atmos-energy-ato-to-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2296961">To read this article on Zacks.com click here.</a>

New Jersey Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/njr#NYSE">NJR</a>) continues to benefit from its infrastructure upgrades that help serve its expanding customer base more efficiently. Given its earnings growth opportunities and strong return on equity (ROE), NJR makes for a solid investment option in the utility sector. 
Let&#39;s focus on the factors that make this Zacks Rank #2 (Buy) company a strong investment pick at the moment.
<h3>Growth Projections &amp; Surprise History</h3>
The Zacks Consensus Estimate for fiscal 2024 earnings per share has moved up 1.7% in the past 90 days to $2.94. 
New Jersey Resources delivered an average earnings surprise of 107.4% in the last four quarters.
<h3>Return on Equity</h3>
ROE indicates how efficiently a company has been utilizing the funds to generate higher returns. Currently, New Jersey Resources&#39; ROE is 12.16%, higher than the industry&#39;s average of 9.7%. This indicates that the company has been utilizing the funds more constructively than its peers in the utility gas distribution industry.
<h3>Dividend Growth</h3>
NJR has been increasing shareholders&#39; value by paying dividends. Currently, its quarterly dividend is 42 cents per share, resulting in an annualized dividend of $1.68 per share, up 7.7% from the previous figure of $1.56. The company&#39;s current dividend yield is 3.99%, better than the Zacks S&amp;P 500 composite&#39;s 1.29%.&nbsp;
<h3>Systematic Investments &amp; Customer Growth</h3>
New Jersey Resources makes consistent investments to upgrade and maintain its existing infrastructure. The idea is to provide reliable services to its customers around the clock. The company expects capital investments to be in the range of $619-$754 million and $578-$742 million for fiscal 2024 and fiscal 2025, respectively. 
The company added 4,058 new customers during the first six months of fiscal 2024, compared with 4,064 in the same period of fiscal 2023. It expects these new customers to contribute nearly $3.4 million of incremental utility gross margin on an annualized basis.
<h3>Price Performance</h3>
In the past three months, shares of the company have risen 2% compared with the sector&#39;s 1.4% growth.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/77/68951.jpg?v=1395337783" /> 
Image Source: Zacks Investment Research
<h3>Other Stocks to Consider</h3>
A few other top-ranked stocks from the same industry are Atmos Energy&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ato#NYSE">ATO</a>), MDU Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mdu#NYSE">MDU</a>) and UGI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ugi#NYSE">UGI</a>), each holding a Zacks Rank #2 at present. 
ATO&#39;s long-term (three to five years) earnings growth rate is 7%. The Zacks Consensus Estimate for ATO&#39;s fiscal 2024 EPS indicates year-over-year growth of 10.2%. 
MDU&#39;s long-term earnings growth rate is 6%. The Zacks Consensus Estimate for MDU&#39;s 2024 EPS indicates a year-over-year increase of 3.3%. 
The Zacks Consensus Estimate for UGI&#39;s fiscal 2024 EPS indicates a year-over-year improvement of 2.8%. The company delivered an average earnings surprise of 19.1% in the last four quarters.
<a href="https://www.zacks.com/stock/news/2288953/reasons-to-add-new-jersey-resources-njr-to-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2288953">To read this article on Zacks.com click here.</a>

New Jersey Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/njr#NYSE">NJR</a>) announced that its unit, New Jersey Natural Gas (&quot;NJNG&quot;), has filed for a rate revision with New Jersey Board of Public Utilities (&quot;BPU&quot;). If the rates are approved without any change, it should increase the utility bill of a typical residential customer using 100 therms a month by 0.5% or 71 cents per month. NJNG expects the rate adjustment to take effect from Oct 1, 2024, subject to the approval of BPU. 
In this rate revision filing, NJNG has asked for a reduction in its annual Basic Gas Supply Service (BGSS) rate, which is offset by an equal increase to its Balancing Charge. Winter weather remained warmer-than-normal year over year, resulting in a minimal decrease of 0.1% related to the Conservation Incentive Program (&quot;CIP&quot;). In its energy-efficiency recovery filing, NJNG seeks a 0.6% increase to recover costs associated with the investment in its SAVEGREEN programs. 
BGSS and Balancing Charge recover the cost of natural gas supplied to customers and balance deliveries with customer usage. CIP helps normalize year-to-year fluctuation from changing weather and usage patterns on both customers&#39; bills and NJNG&#39;s financial margins.
<h3>Investments to Strengthen Operation</h3>
New Jersey Resources makes consistent investments to upgrade and maintain its existing infrastructure. The company expects capital investments to be in the range of $619-$754 million and $578-$742 million for fiscal 2024 and 2025, respectively.&nbsp; The planned capital expenditure should support and expand the infrastructure of the company and allow it to serve its expanding customer base. Systematic capital expenditure is likely to support long-term earnings growth target of 7-9%.
<h3>Price Performance and Zacks Rank</h3>
New Jersey Resources currently has&nbsp;a Zacks Rank #3 (Hold). In the past three months, shares of the company rose 2.9% compared with its industry&#39;s growth of 6.8%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ca/68009.jpg?v=209497495" /> 
Image Source: Zacks Investment Research
<h3>Demand for Clean Source of Energy to Rise</h3>
The clean-burning nature, wide availability of natural gas across the United States and rising awareness against emission are increasing the demand for natural gas. Per the American Gas Association report, one residential customer signs up for natural gas service every minute and 80 businesses add natural gas service each day.
The rising demand and usage of natural gas should create growth opportunities for Atmos Energy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ato#NYSE">ATO</a>), MDU Resources (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mdu#NYSE">MDU</a>) and UGI Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ugi#NYSE">UGI</a>), each carrying a Zacks Rank #2 (Buy) at present.&nbsp;You can see the complete list of today&#39;s Zacks #1 Rank (Strong Buy) stocks here. 
The current dividend yield of Atmos Energy, MDU Resources and UGI is 2.78%, 1.98% and 5.89%, respectively, better than the Zacks S&amp;P 500 composite&#39;s 1.57%. 
The Zacks Consensus Estimate for ATO, MDU and UGI fiscal 2024 earnings per share has moved up 0.9%, 1.3% and 2.1%, respectively, in the past 60 days.
<a href="https://www.zacks.com/stock/news/2282823/new-jersey-resources-njr-unit-files-for-gas-rate-revision?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2282823">To read this article on Zacks.com click here.</a>

New Jersey Resources' Unit Files for Gas Rate Revision

iscal 2024 NFE Guidance:
NJR re-affirmed its fiscal 2024 NFEPS guidance range of $2.85 to $3.00, which was increased by $0.15 in February 2024, subject to the risks and uncertainties identified below under &quot;Forward-Looking Statements.&quot;
In fiscal 2024, NJR expects Energy Services will represent a higher percentage of NFEPS than in prior years due to contributions from the Asset Management Agreements signed in 2020&#x2A;. The following chart represents NJR&#39;s current expected contributions from its business segments for fiscal 2024:
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
Company
</td>
<td colspan="1" rowspan="1">
Expected Fiscal 2024 
			Net Financial Earnings
			Contribution
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
New Jersey Natural Gas
</td>
<td colspan="1" rowspan="1">
40 to 45 percent
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Clean Energy Ventures
</td>
<td colspan="1" rowspan="1">
12 to 17 percent
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Storage and Transportation
</td>
<td colspan="1" rowspan="1">
3 to 7 percent
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Energy Services
</td>
<td colspan="1" rowspan="1">
38 to 43 percent&#x2A;
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Home Services and Other
</td>
<td colspan="1" rowspan="1">
0 to 1 percent
</td>
</tr>
</tbody>
</table>
&nbsp;

New Jersey Resources Affirms FY2024 Adj EPS Guidance $2.85-3.00 vs $2.93 Est

New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) reported quarterly earnings of $1.41 per share which beat the analyst consensus estimate of $1.33 by 6.02 percent. This is a 21.55 percent increase over earnings of $1.16 per share from the same period last year. The company reported quarterly sales of $657.913 million which missed the analyst consensus estimate of $670.000 million by 1.80 percent. This is a 2.16 percent increase over sales of $644.027 million the same period last year.

Earnings Beats

New Jersey Resources Q2 2024 Adj EPS $1.41 Beats $1.33 Estimate, Sales $657.913M Miss $670.000M Estimate

Fiscal 2024 NFE&nbsp;Guidance:
NJR is raising its fiscal 2024 NFEPS&nbsp;guidance&nbsp;range by&nbsp;$0.15&nbsp;to a range of&nbsp;$2.85&nbsp;to&nbsp;$3.00, subject to the risks and uncertainties identified below under &quot;Forward-Looking Statements.&quot;
In fiscal 2024, NJR expects Energy Services will represent a higher percentage of NFEPS than in prior years due to contributions from the Asset Management Agreements signed in 2020. The following chart represents NJR&#39;s current expected contributions from its business segments for fiscal 2024:
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
Company
</td>
<td colspan="1" rowspan="1">
Expected Fiscal 2024&nbsp;Net Financial Earnings Contribution
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
New Jersey Natural Gas
</td>
<td colspan="1" rowspan="1">
40 to&nbsp;45 percent
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Clean Energy Ventures
</td>
<td colspan="1" rowspan="1">
12 to&nbsp;17 percent
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Storage and Transportation
</td>
<td colspan="1" rowspan="1">
3 to&nbsp;7 percent
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Energy Services
</td>
<td colspan="1" rowspan="1">
38 to&nbsp;43 percent
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Home Services and Other
</td>
<td colspan="1" rowspan="1">
0 to&nbsp;1 percent
</td>
</tr>
</tbody>
</table>

New Jersey Resources Raises Its FY24 Guidance, Now Sees Net Financial Earnings Per Share Of $2.85-$3.00 (Prior $2.70 - $2.85)

New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) reported quarterly earnings of $0.74 per share which missed the analyst consensus estimate of $0.75 by 1.33 percent. This is a 35.09 percent decrease over earnings of $1.14 per share from the same period last year. The company reported $467.21 million in sales this quarter. This is a 35.43 percent decrease over sales of $723.57 million the same period last year.

New Jersey Resources Q1 EPS $0.74 Misses $0.75 Estimate, Sales $467.21M Down From $723.57M YoY

AEIS

AGCO

AMCR

AMGN

AMRK

AOSL

ARCB

ARMK

ARWR

ASTL

ATEN

ATHM

AUDC

AVNW

AZEK

AZPN

CARR

CEIX

CHKP

CINF

CRNC

CRUS

CTSH

DCPH

DIOD

ENPH

EXEL

FRSH

FTNT

GAIN

GEHC

GILD

HIMX

HLNE

ICHR

INGR

INNV

INSP

INTA

JKHY

KREF

KTCC

LPTV

LSAK

LUMN

MODN

MRCY

MSGS

MSTR

PLUS

QGEN

Earnings Scheduled For February 6, 2024

Mizuho analyst Gabriel Moreen maintains New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) with a Neutral and lowers the price target from $47 to $45.

Mizuho Maintains Neutral on New Jersey Resources, Lowers Price Target to $45-Report Released on  4 February 2024

Monday marks the last chance for investors to receive the next dividend payout from New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>). 
<h3>What's Happening</h3>
The company announced on Thursday that it would pay shareholders a quarterly dividend of 42 cents per share. On Tuesday, New Jersey Resources will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 42 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Tuesday. Shareholders who own NJR as of the end of Monday's session are eligible to receive the 42 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on January 02, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/NJR">Track real-time stock fluctuations for New Jersey Resources on Benzinga.</a>

Dividends

Monday Is Your Last Chance To Buy New Jersey Resources Before The Dividend Payout

<h3>Companies Reporting Before The Bell</h3>
&bull; Golden Ocean Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGL#NASDAQ">GOGL</a>) is likely to report quarterly earnings at $0.11 per share on revenue of $149.42 million.
&bull; Singing Machine Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MICS#NASDAQ">MICS</a>) is likely to report earnings for its second quarter.
&bull; Yiren Digital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YRD#NYSE">YRD</a>) is projected to report earnings for its third quarter.
&bull; Arqit Quantum (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARQQ#NASDAQ">ARQQ</a>) is expected to report earnings for its Fiscal Year 2023.
&bull; Northern Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTIC#NASDAQ">NTIC</a>) is estimated to report quarterly earnings at $0.18 per share on revenue of $21.40 million.
&bull; MediWound (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDWD#NASDAQ">MDWD</a>) is likely to report quarterly loss at $0.44 per share on revenue of $4.74 million.
&bull; Dycom Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>) is projected to report earnings for its third quarter.
&bull; Yatsen Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YSG#NYSE">YSG</a>) is expected to report earnings for its third quarter.
&bull; Tuniu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOUR#NASDAQ">TOUR</a>) is projected to report earnings for its third quarter.
&bull; Burlington Stores (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURL#NYSE">BURL</a>) is likely to report earnings for its third quarter.
&bull; Caleres (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAL#NYSE">CAL</a>) is expected to report earnings for its third quarter.
&bull; Tsakos Energy Navigation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNP#NYSE">TNP</a>) is expected to report earnings for its third quarter.
&bull; Kingsoft Cloud Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) is likely to report earnings for its third quarter.
&bull; Jacobs Solutions (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/J#NYSE">J</a>) is estimated to report quarterly earnings at $1.89 per share on revenue of $4.16 billion.
&bull; American Eagle Outfitters (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEO#NYSE">AEO</a>) is projected to report earnings for its third quarter.
&bull; Dick&#39;s Sporting Goods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DKS#NYSE">DKS</a>) is estimated to report earnings for its third quarter.
&bull; Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) is expected to report earnings for its third quarter.
&bull; Freightos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRGO#NASDAQ">CRGO</a>) is expected to report quarterly loss at $0.13 per share on revenue of $5.07 million.
&bull; Kohl&#39;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) is estimated to report quarterly earnings at $0.33 per share on revenue of $4.11 billion.
&bull; Abercrombie &amp; Fitch (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANF#NYSE">ANF</a>) is likely to report earnings for its third quarter.
&bull; New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) is expected to report quarterly earnings at $0.32 per share on revenue of $760.00 million.
&bull; Analog Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) is expected to report quarterly earnings at $2.00 per share on revenue of $2.70 billion.
&bull; Best Buy Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>) is projected to report quarterly earnings at $1.19 per share on revenue of $9.91 billion.
&bull; iQIYI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IQ#NASDAQ">IQ</a>) is expected to report quarterly earnings at $0.06 per share on revenue of $1.10 billion.
&bull; Medtronic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MDT#NYSE">MDT</a>) is projected to report quarterly earnings at $1.18 per share on revenue of $7.92 billion.
&bull; Hibbett (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIBB#NASDAQ">HIBB</a>) is estimated to report earnings for its third quarter.
&bull; Embecta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>) is likely to report earnings for its fourth quarter.
&bull; Golar LNG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLNG#NASDAQ">GLNG</a>) is estimated to report quarterly earnings at $0.44 per share on revenue of $73.81 million.
&bull; Lowe&#39;s Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) is expected to report earnings for its third quarter.
<h3>Companies Reporting After The Bell</h3>
&bull; Guess (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GES#NYSE">GES</a>) is projected to report earnings for its third quarter.
&bull; Agora (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/API#NASDAQ">API</a>) is estimated to report quarterly loss at $0.10 per share on revenue of $40.17 million.
&bull; TDCX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDCX#NYSE">TDCX</a>) is projected to report earnings for its third quarter.
&bull; Emeren Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOL#NYSE">SOL</a>) is projected to report earnings for its third quarter.
&bull; Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) is likely to report earnings for its third quarter.
&bull; Nordstrom (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JWN#NYSE">JWN</a>) is likely to report earnings for its third quarter.
&bull; DLocal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLO#NASDAQ">DLO</a>) is likely to report quarterly earnings at $0.15 per share on revenue of $168.51 million.
&bull; HP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) is likely to report earnings for its fourth quarter.
&bull; NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is expected to report quarterly earnings at $3.16 per share on revenue of $15.19 billion.
&bull; Jack In The Box (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JACK#NASDAQ">JACK</a>) is estimated to report quarterly earnings at $1.15 per share on revenue of $372.44 million.
&bull; Banco BBVA Argentina (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBAR#NYSE">BBAR</a>) is estimated to report earnings for its third quarter.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

ADSK

ARQQ

BBAR

BIDU

BURL

CRGO

EMBC

GLNG

GOGL

HIBB

JACK

MDWD

MICS

NTIC

NVDA

TDCX

TOUR

Earnings Scheduled For November 21, 2023

New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) reported its Q4 earnings results on Tuesday, November 21, 2023 at 07:00 AM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
New Jersey Resources missed estimated earnings by 6.25%, reporting an EPS of $0.3 versus an estimate of $0.32.
Revenue was down $434.16 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.13 which was followed by a 0.59% increase in the share price the next day.
Here's a look at New Jersey Resources's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.03</td>
<td>1.21</td>
<td>0.72</td>
<td>0.43</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.10</td>
<td>1.16</td>
<td>1.14</td>
<td>0.50</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>547.71M</td>
<td>997.50M</td>
<td>578.66M</td>
<td>428.91M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>264.07M</td>
<td>644.03M</td>
<td>723.57M</td>
<td>765.49M</td>
</tr>
</tbody>
</table>

To track all earnings releases for New Jersey Resources <a href="https://www.benzinga.com/quote/NJR/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: New Jersey Resources Q4 Earnings

New Jersey Resources Sees FY254 Net Financial Earnings Per Share (NFEPS) Of $2.70 - $2.85

New Jersey Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NJR#NYSE">NJR</a>) reported quarterly adjusted earnings of $0.30 per share which missed the analyst consensus estimate of $0.32 by 6.25 percent. This is a 40 percent decrease over earnings of $0.50 per share from the same period last year. The company reported quarterly sales of $331.32 million which missed the analyst consensus estimate of $760.00 million by 56.40 percent. This is a 56.72 percent decrease over sales of $765.49 million the same period last year.

New Jersey Resources Q4 Adj EPS $0.30 Misses $0.32 Estimate, Sales $331.32M Miss $760.00M Estimate

In a report released on July 18, Richard Sunderland from J.P. Morgan maintained a Hold rating on New Jersey Resources (NJR – Research Report), with...

J.P. Morgan Reaffirms Their Hold Rating on New Jersey Resources (NJR)

New Jersey Resources Q3 2024 Earnings Preview

New Jersey Resources misses Q3 estimates

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
New Jersey Resources (NYSE:<a href="https://investorplace.com/stock-quotes/njr-stock-quote/">NJR</a>) just reported results for the third quarter of 2024.<ul><li>New Jersey Resources reported earnings per share of -9 cents. This was below the analyst estimate for EPS of -1 cent.</li><li>The company reported revenue of $275.64 million.</li><li>This was 2.60% worse than the analyst estimate for revenue of $283.00 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget AI... THIS Technology Is the Future&rdquo;</a>
					</li>
									</ul>The post <a href="https://investorplace.com/earning-results/2024/08/njr-stock-earnings-new-jersey-resources-for-q3-of-2024/">NJR Stock Earnings: New Jersey Resources Misses EPS, Misses Revenue for Q3 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

NJR Stock Earnings: New Jersey Resources Misses EPS, Misses Revenue for Q3 2024

New Jersey Resources Corporation (NJR) Q3 2024 Earnings Call Transcript

Interest rate-sensitive sectors like utilities would be some of the biggest beneficiaries of lower rates.

How To Profit Off The Fed's Next Interest Rate Move

Microsoft, McDonald's Among 13 Companies To Reward Investors With Increased Dividends In September

New Jersey Resources raises dividend by 7.1% to $0.45

Dividend Champion, Contender, And Challenger Highlights: Week Of September 15

4 Upcoming Dividend Increases

ALLE

AMAT

AMSF

APLO

AVGO

BANF

BSVN

CBOE

CBSH

CCBG

CTVA

EQIX

EVRG

EXPO

FITB

FLIC

FRME

GOLF

INTU

JJSF

LAND

LOGI

LRCX

MBWM

MGEE

MOFG

MSFT

NDSN

ODFL

OTEX

PRGO

RBCAA

SAMG

SBAC

SBUX

SCHD

SLGN

SWBI

TCBK

UNTY

UTMD

VICI

Press Releases

New Jersey Resources Board of Directors Declares Quarterly Dividend

New Jersey Natural Gas to Reduce Fleet Emissions with Neste MY Renewable Diesel

New Jersey Resources Celebrates Earth Day With Pledge to Support Coastal Resilience and Healthy Ecosystems Through Monmouth University's Urban Coast Institute

New Jersey Resources Reports Fiscal 2024 Second-Quarter Results

New Jersey Natural Gas Announces Installation of State's First CarbinX Carbon Capture Units

New Jersey Natural Gas Files Annual Rate Adjustments With the New Jersey Board of Public Utilities

New Jersey Resources Announces $500,000 Funding Commitment to Restore and Transform Scudder Preserve in Monmouth County

New Jersey Resources Schedules Fiscal 2024 Third Quarter Earnings Call

New Jersey Resources Reports Fiscal 2024 Third-Quarter Results

New Jersey Resources Board of Directors Increases Dividend by 7.1% to $0.45 Per Share

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

New Jersey Resources

News

Latest news for New Jersey Resources (NYSE:NJR) Stock

People Also Watch