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.
New Jersey Resources (NYSE: NJR) is set to broadcast its fiscal 2023 second quarter financial results via a live webcast on May 4, 2023, at 10 a.m. ET. The presentation will be led by President and CEO Steve Westhoven, along with Senior VP and CFO Roberto Bel. NJR provides essential natural gas and clean energy services across its five subsidiaries, with the core being New Jersey Natural Gas, which serves over 570,000 customers through more than 7,700 miles of infrastructure. The company is committed to energy conservation and efficiency through initiatives like Conserve to Preserve®.
For further details, interested parties can visit www.njresources.com.
The Board of Directors of New Jersey Resources (NYSE: NJR) has declared a quarterly dividend of
New Jersey Resources (NJR) announced a reduction in the Basic Gas Supply Service (BGSS) rate, effective March 1, 2023, resulting in an 8.1% savings for typical customers. This translates to approximately $129.48 in annual savings for customers using 1,000 therms per year. A one-time bill credit of $34.6 million will also be applied during March 2023. The BGSS rate will decrease by $0.0616 per therm, saving customers an additional $61.60 annually. The reductions stem from lower wholesale natural gas prices and effective supply management strategies, with NJNG emphasizing ongoing support for customers facing payment difficulties.
New Jersey Resources Corporation (NYSE: NJR) reported robust results for Q1 fiscal 2023, achieving consolidated net income of $115.9 million, up from $111.3 million year-over-year. Net financial earnings (NFE) rose significantly to $110.3 million or $1.14 per share, compared to $65.8 million or $0.69 per share for the prior year. The company raised its NFE per share guidance for fiscal 2023 to between $2.62 and $2.72, an increase of $0.20, driven by exceptional performance during Winter Storm Elliott. The long-term projected NFEPS growth remains at 7 to 9 percent.
New Jersey Resources (NJR) held its 70th Annual Shareowners Meeting, where shareowners elected Michael A. O'Sullivan for a two-year term and re-elected Jane M. Kenny, Sharon C. Taylor, and Stephen D. Westhoven for three-year terms. Two directors, Robert B. Evans and David A. Trice, retired. The company emphasized the importance of good governance for long-term performance. Shareowners approved a non-binding advisory resolution on executive compensation and ratified Deloitte & Touche LLP as the accounting firm for the fiscal year ending September 30, 2023. NJR is dedicated to providing reliable natural gas and clean energy services in New Jersey.
The board of directors of New Jersey Resources Corporation (NYSE: NJR) has declared a quarterly dividend of
New Jersey Resources (NJR) announced its 70th Annual Shareowners Meeting and released its fiscal 2022 Corporate Sustainability Report. The report highlights significant achievements, including a 59% reduction in operational emissions since 2006, on track to meet a 60% reduction goal by 2030. NJR eliminated unprotected bare steel and cast iron from its gas distribution system, leading to fewer leaks. The company invested over $53 million in energy-efficiency initiatives, contributing to New Jersey's 2050 carbon reduction targets. Additionally, NJR established a $20 million endowment for philanthropic efforts, focusing on environmental stewardship and community impact.
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