New Jersey Resources Corp - NJR STOCK NEWS

New Jersey Resources (NYSE: NJR) appointed Tejal K. Mehta as Corporate Secretary and Assistant General Counsel effective June 6, 2022. Ms. Mehta brings nearly 15 years of legal experience, previously serving at TD Bank Group and Ballard Spahr LLP, focusing on regulatory compliance and corporate governance. Her leadership is expected to bolster NJR's corporate legal function and board oversight.

Richard Reich, NJR's general counsel, praised her proven skills, highlighting their potential positive impact on the company and its customers.

New Jersey Natural Gas (NJNG), a subsidiary of New Jersey Resources (NYSE: NJR), filed for BGSS rate adjustments due to rising wholesale gas prices. The request includes a 12.5% increase for residential heating customers, affecting typical users of 100 therms per month. Factors for price hikes are attributed to geopolitical issues and supply-demand imbalances. While NJNG hedges 80% of its winter supply, the overall proposed increase is 15.9%, pending approval from the New Jersey Board of Public Utilities, effective October 1, 2022.

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 $0.3625 per share. This dividend will be payable on July 1, 2022, to shareholders of record on June 15, 2022. NJR has consistently paid dividends since 1952, emphasizing its commitment to providing returns to shareholders. The company operates various energy-related businesses, including New Jersey Natural Gas, which serves over half a million customers, and Clean Energy Ventures, which focuses on solar projects.

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.