Welcome to our dedicated page for New Jersey Res news (Ticker: NJR), a resource for investors and traders seeking the latest updates and insights on New Jersey Res stock.
New Jersey Resources Corporation reports developments across a diversified energy infrastructure and energy services business anchored by New Jersey Natural Gas. Its recurring updates cover utility operating results, customer growth, rate effects, Basic Gas Supply Service incentives, natural gas hedging, and net financial earnings guidance.
NJR news also follows Energy Services performance in physical natural gas and asset management, Storage and Transportation assets such as Leaf River, Adelphia Gateway Pipeline and Steckman Ridge, Clean Energy Ventures solar projects, Home Services offerings, quarterly dividends, board elections, leadership changes, and environmental or community initiatives tied to its New Jersey service territory.
New Jersey Resources Corporation (NJR) reported a net income of $117.9 million for fiscal 2021, down from $163.0 million in 2020. However, net financial earnings reached $207.7 million, or $2.16 per share, compared to $165.3 million, or $1.74 per share, from the prior year.
The company affirmed its fiscal 2022 earnings guidance of $2.20 to $2.30 per share and narrowed its long-term growth rate to 7-9%. NJR increased its annual dividend by 9% to $1.45 per share and received regulatory approval for a $79 million rate increase.
New Jersey Natural Gas (NJR) has received approval from the New Jersey Board of Public Utilities for a $79.269 million increase to its base rates, aimed at recovering costs associated with operational efficiencies and infrastructure investments, including a green hydrogen project. The rate base is now $2.523 billion, with a 6.84% return rate. Customers will see an average monthly bill increase of $13.23, or 11.3%, despite bills being 23.4% lower than 2008 rates. New rates are effective December 1, 2021.
The board of New Jersey Resources Corporation (NYSE:NJR) has declared a quarterly dividend of $0.3625 per share, payable on January 3, 2022, to shareholders of record as of December 15, 2021. This marks a continuation of the company's commitment to providing shareholder value, having paid dividends since 1952. NJR operates multiple subsidiaries in natural gas and clean energy sectors, including New Jersey Natural Gas and NJR Clean Energy Ventures, managing significant infrastructure and renewable projects across the region.
New Jersey Resources (NYSE: NJR) is set to host a live webcast of its fiscal 2021 year-end earnings results on November 18, 2021, at 10 a.m. ET. The presentation will be led by President and CEO Steve Westhoven and CFO Pat Migliaccio, providing insights into the company's financial and operational performance for the year. NJR operates through several subsidiaries, including New Jersey Natural Gas and NJR Clean Energy Ventures, focusing on natural gas transportation, distribution, and clean energy solutions.
New Jersey Resources (NYSE: NJR) has promoted Richard Reich to Senior Vice President and General Counsel, effective immediately. Reich will lead the company's legal department while continuing to serve as Corporate Secretary until a replacement is found. He joined NJR in 2006 and has held various positions, including Interim General Counsel since May 2021. CEO Steve Westhoven praised Reich's leadership and expertise. NJR operates multiple businesses, providing natural gas and clean energy services across New Jersey, including over 7,500 miles of gas infrastructure and renewable energy projects.
The board of directors of New Jersey Resources (NYSE: NJR) has approved a 9% increase in the quarterly dividend rate to $.3625 per share, up from $.3325. This change will be effective October 1, 2021 for shareholders on record September 20, 2021. With this increase, NJR maintains an annual dividend rate of $1.45 per share, marking the 28th dividend increase in the last 26 years, reflecting strong company performance and confidence in future outlook.
New Jersey Resources (NJR) reported a consolidated net loss of $(111.8) million for Q3 fiscal 2021, reflecting a $72.7 million impairment from the PennEast Project. In contrast, net financial earnings (NFE) fell to $(14.1) million, or $(0.15) per share, down from $2.7 million, or $0.03 per share a year earlier. Despite losses, NJR adjusted its fiscal 2021 NFE per share guidance to $2.10 - $2.20, driven by strong performance in Energy Services. Year-to-date net income was $119.0 million, compared to $130.3 million last year.
The board of directors of New Jersey Resources (NYSE: NJR) has declared a quarterly dividend of $.3325 per share. This dividend will be paid on October 1, 2021 to shareholders on record as of September 20, 2021. NJR emphasizes its commitment to delivering value through consistent dividends, having done so since 1952. NJR operates across multiple sectors including natural gas distribution, clean energy, and home services, serving over half a million customers in New Jersey.
New Jersey Resources (NYSE: NJR) will host a live webcast to discuss its fiscal 2021 third-quarter earnings on August 5, 2021, at 10 a.m. ET. CEO Steve Westhoven and CFO Pat Migliaccio will provide insights into the company’s financial and operational performance. NJR offers natural gas and clean energy services through various subsidiaries, serving over half a million customers in New Jersey. Key businesses include New Jersey Natural Gas, NJR Clean Energy Ventures, and NJR Home Services, focusing on energy efficiency and conservation programs.
New Jersey Natural Gas (NJNG), a subsidiary of New Jersey Resources (NJR), announced John Wyckoff as the new Vice President-Energy Delivery following Craig Lynch's retirement. Wyckoff, a longtime NJNG employee, will oversee nearly 700 employees and the safe operation of the gas delivery system, serving over 560,000 customers in New Jersey. Kraig Sanders was promoted to Vice President-Operations, overseeing distribution operations and customer service. The leadership transition emphasizes NJNG's commitment to operational excellence in natural gas delivery.