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 Corporation (NJR) reported a consolidated net income of $96.0 million for Q2 fiscal 2022, down from $149.8 million in Q2 fiscal 2021. The net financial earnings (NFE) were $130.2 million, or $1.36 per share, compared to $170.6 million, or $1.77 per share, in the prior year. The company raised its fiscal 2022 NFEPS guidance to a range of $2.30 to $2.40, up from $2.20 to $2.30. Key performance metrics show a decline in earnings, yet improved performance from Energy Services supports the positive guidance.
The board of directors of New Jersey Resources Corporation (NYSE: NJR) has declared a quarterly dividend of
New Jersey Resources (NYSE: NJR) will host a live webcast to discuss its fiscal 2022 second-quarter earnings on May 5, 2022, at 10 a.m. ET. President and CEO Steve Westhoven alongside CFO Roberto Bel will present the company's financial and operational performance for the quarter ending March 31, 2022. NJR provides essential natural gas and clean energy services through its subsidiaries, including New Jersey Natural Gas, which serves over half a million customers across several counties.
New Jersey Resources Corporation (NYSE: NJR) reported a robust first-quarter for fiscal 2022, achieving net income of $111.3 million, up from $81.0 million year-over-year. Consolidated net financial earnings (NFE) stood at $65.8 million or $0.69 per share, significantly higher than $44.7 million or $0.46 per share in the prior year. The company re-affirmed its fiscal 2022 NFE per share guidance of $2.20 to $2.30. Additionally, the New Jersey Natural Gas received approval for a $79.3 million rate increase, and its hydrogen project began production.
New Jersey Resources (NYSE: NJR) held its 69th Annual Shareowners Meeting virtually due to COVID-19, re-electing Gregory E. Aliff, Robert B. Evans, and Thomas C. O’Connor to the board for three-year terms. The meeting also saw Dr. M. William Howard, Jr. retire after 16 years of service. Shareowners approved an advisory resolution on executive compensation and ratified Deloitte & Touche LLP as the independent accounting firm for the fiscal year ending September 30, 2022. NJR continues its commitment to clean energy through its subsidiaries, serving over half a million customers.
The board of directors of New Jersey Resources Corporation (NYSE: NJR) has declared a quarterly dividend of
New Jersey Resources (NYSE: NJR) will host a live webcast to discuss its fiscal Q1 2022 earnings on February 3, 2022, at 10 a.m. ET. CEO Steve Westhoven and CFO Roberto Bel will present key financial and operational results. NJR provides essential natural gas and clean energy services, operating through five primary subsidiaries, including New Jersey Natural Gas and NJR Clean Energy Ventures. The webcast can be accessed via the investor relations section of their website.
New Jersey Resources (NYSE: NJR) announces executive leadership promotions effective January 1, 2022, to bolster its growth and sustainability strategies. Key appointments include Patrick Migliaccio as Senior Vice President and Chief Operating Officer of NJ Natural Gas, and Roberto Bel as Senior Vice President and Chief Financial Officer. The leadership team aims to enhance operational efficiency, advance decarbonization efforts, and manage approximately $1.5 billion in infrastructure investments. These changes are designed to strengthen NJR's position as a leader in clean energy and secure its future growth.
New Jersey Natural Gas (NJR) has filed a request for a 5% increase in Basic Gas Supply Service (BGSS) rates, effective December 1, 2021, due to an 80% rise in wholesale natural gas prices since May 2021. This adjustment will raise the average residential bill by approximately $5.93 monthly, adding to a recent base rate increase of $13.23. NJR emphasizes that these costs are solely for recovering commodity prices, with no profit margin involved. They previously returned $20.6 million to customers through bill credits, demonstrating their commitment to managing supply and minimizing price volatility.
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