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New Jersey Resources Corp - NJR STOCK NEWS

Welcome to our dedicated page for New Jersey Resources news (Ticker: NJR), a resource for investors and traders seeking the latest updates and insights on New Jersey Resources stock.

New Jersey Resources Corp (NJR) is a diversified energy services holding company that operates both regulated and nonregulated businesses. As a Fortune 1000 company, NJR is dedicated to providing reliable energy and natural gas services, including transportation, distribution, and asset management across several regions in the United States and Canada.

NJR’s regulated utility, New Jersey Natural Gas, delivers natural gas to nearly 600,000 customers in New Jersey. The company also operates an extensive infrastructure network, maintaining 6,700 miles of natural gas transportation and distribution pipelines to ensure safe and reliable service. Additionally, it offers appliance installation, repair, and contract services to approximately 150,000 homes and businesses.

On the nonregulated front, NJR invests heavily in renewable energy through its subsidiary, NJR Clean Energy Ventures (CEV). CEV owns and operates solar projects and provides low-carbon solutions to residential and commercial customers. With over $1.2 billion invested in solar projects and approximately 470 MW of installed capacity, CEV is a significant player in the renewable energy sector.

NJR also engages in midstream asset investments through equity partnerships in projects like Steckman Ridge and Iroquois. The company manages a diverse portfolio that includes 777,000 Dth/d of transportation capacity and 52 Bcf of storage capacity.

Recently, NJR Clean Energy Ventures formed a partnership with CI Renewables to develop commercial and industrial solar projects in the Mid-Atlantic region. This collaboration aims to expand their geographic reach and enhance their portfolio of innovative solar energy solutions.

With annual revenues exceeding $2.5 billion, NJR continues to focus on growth and sustainability. The company’s Conserve to Preserve® initiative helps customers save energy and reduce their environmental impact, underscoring NJR’s commitment to a sustainable future.

News

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

Rhea-AI Summary
New Jersey Natural Gas (NYSE: NJR) partners with Neste MY Renewable Diesel™ to reduce fleet emissions, becoming the first East Coast natural gas utility to do so. The renewable diesel can cut up to 75% of greenhouse gas emissions and is used in 70 trucks, reducing emissions by an estimated 550 tons annually. Neste's high-quality product is compatible with all diesel engines and performs well in cold conditions, demonstrating NJNG's commitment to sustainability and innovation.
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New Jersey Resources Board of Directors Declares Quarterly Dividend

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New Jersey Resources (NJR) declares a quarterly dividend of $0.42 per share, showcasing its commitment to providing value to shareholders. The dividend will be payable on July 1, 2024, to shareholders of record as of June 12, 2024.
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New Jersey Resources Schedules Fiscal 2024 Second Quarter Earnings Call

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New Jersey Resources (NJR) will host a live webcast of its fiscal 2024 second quarter financial results on May 7, 2024, at 10 a.m. ET. President and CEO Steve Westhoven and CFO Roberto Bel will discuss NJR's financial and operational performance.
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CI RENEWABLES LLC AND NJR CLEAN ENERGY VENTURES FORM SOLAR DEVELOPMENT PARTNERSHIP

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CI Renewables LLC partners with NJR Clean Energy Ventures to develop commercial and industrial solar projects in the mid-Atlantic region, aiming to expand clean energy offerings.
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New Jersey Resources Reports Fiscal 2024 First-Quarter Results; Increases Net Financial Earnings Guidance for Fiscal 2024

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New Jersey Resources Corporation (NYSE: NJR) reported results for the first quarter of fiscal 2024, with consolidated net income of $89.4 million, compared to $115.9 million in the first quarter of fiscal 2023. The company's net financial earnings (NFE) decreased to $72.4 million, or $0.74 per share, from $110.3 million, or $1.14 per share, in the first quarter of fiscal 2023. NJR increased its fiscal 2024 net financial earnings per share (NFEPS) guidance range to $2.85 to $3.00, from $2.70 to $2.85, and maintains a long-term projected NFEPS growth rate of 7 to 9 percent.
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New Jersey Natural Gas Files Base Rate Case With the New Jersey Board of Public Utilities

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New Jersey Natural Gas (NJNG) has filed a petition with the New Jersey Board of Public Utilities (BPU) requesting a $222.6 million increase to its base rates. The company has invested approximately $850 million in enhancing the safety, reliability, security, and environmental benefits of its delivery system and operations. The proposed rate adjustment is necessary to recover costs associated with these critical infrastructure investments and ensure responsible operation of NJNG’s business. If approved, the typical NJNG residential heating customer using 81 therms a month will see an increase of $29.01 in their natural gas bill.
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New Jersey Resources Board of Directors Declares Quarterly Dividend

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New Jersey Resources Corporation (NJR) has declared a quarterly dividend of $0.42 per share on its common stock. The dividend will be payable on April 1, 2024, to shareowners of record as of March 13, 2024. NJR has a long history of paying quarterly dividends since its inception in 1952, demonstrating its commitment to providing value to its shareholders.
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New Jersey Resources Hosts 71st Annual Meeting

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New Jersey Resources (NYSE: NJR) hosted its 71st Annual Shareowners Meeting, electing four directors for a three-year term. Shareowners also approved a non-binding advisory resolution on executive compensation and ratified the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending September 30, 2024.
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New Jersey Resources Expands Coastal Climate Initiative, Environmental Stewardship Efforts With Milestone Funding Announcement

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New Jersey Resources (NJR) announced a five-year funding commitment of $560,000 to support environmental improvements in partnership with New Jersey Audubon. The funding will help preserve and enhance habitats, improve resiliency, and support recreational opportunities in the Pinelands National Reserve. NJR also released its fiscal 2023 Corporate Sustainability Report, highlighting significant achievements in emission reduction, renewable energy, and community service.
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New Jersey Resources Schedules Fiscal 2024 First Quarter Earnings Call

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New Jersey Resources (NJR) to Host Live Webcast of Fiscal 2024 First Quarter Financial Results
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FAQ

What is the current stock price of New Jersey Resources (NJR)?

The current stock price of New Jersey Resources (NJR) is $48.79 as of November 20, 2024.

What is the market cap of New Jersey Resources (NJR)?

The market cap of New Jersey Resources (NJR) is approximately 4.2B.

What services does New Jersey Resources Corp provide?

NJR offers natural gas transportation, distribution, and asset management, along with renewable energy solutions through its subsidiary NJR Clean Energy Ventures.

Who are the customers of New Jersey Natural Gas?

New Jersey Natural Gas serves nearly 600,000 customers in the state of New Jersey.

What is NJR Clean Energy Ventures?

NJR Clean Energy Ventures is the renewable energy subsidiary of NJR, investing in, owning, and operating solar projects.

How much solar capacity does NJR Clean Energy Ventures have?

NJR Clean Energy Ventures maintains a portfolio of approximately 470 MW of installed solar capacity.

What recent partnerships has NJR entered into?

NJR recently partnered with CI Renewables to develop commercial and industrial solar projects in the Mid-Atlantic region.

How extensive is NJR's natural gas infrastructure?

NJR operates and maintains 6,700 miles of natural gas transportation and distribution infrastructure.

What is the Conserve to Preserve® initiative?

Conserve to Preserve® is NJR's initiative to help customers save energy and reduce their environmental impact.

What is NJR’s annual revenue?

NJR has annual revenues exceeding $2.5 billion.

What types of investments does NJR have in midstream assets?

NJR holds investments in midstream assets through equity partnerships in projects like Steckman Ridge and Iroquois.

How many homes and businesses benefit from NJR’s appliance services?

NJR provides appliance installation, repair, and contract services to approximately 150,000 homes and businesses.

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New Jersey Resources Corp

NYSE:NJR

NJR Rankings

#1414 Ranked by Market Cap
#828 Ranked by Dividends

NJR Stock Data

4.18B
98.67M
0.47%
75.49%
1.61%
Utilities - Regulated Gas
Natural Gas Distribution
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United States of America
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